The trend of exporting Pangasius to the Mexican market in the first month of this year signaled a better situation in export activities in this market. Among four major importers with high potential (Mexico, Brazil, Colombia and the UAE), Mexico was the only market that has achieved positive growth so far.
According to statistics, in January 2019, there were about 15 Pangasius enterprises exporting to Mexico market, of which Dong Thap and An Giang were the two localities with the largest export value. At the same time, the two main types of products for export were frozen fillets Pangasius(HS 030462) and frozen slice/steaks Pangasius and Basa (HS 030324) to Mexico. Frozen Pangasius and Basa with higher average export prices ranging from US$1.25 - 3.95/kg; Steak Pangasius products cost from US$1.12 to US$2.25 /kg.
According to ITC statistics, in 2018, import of white fish to Mexico increased by 5% in volume and 18% in value compared to 2017, in which China and Vietnam were the two major suppliers of white fish to Mexico. However, in 2017, while imported white meat to Mexico increased by 34% in volume and 37% in value, imported Pangasius to Mexico from Vietnam decreased by 26% in volume and 7% in value compare to 2016. During this period, Chinese tilapia were subjected to high tariffs in the US-China trade war, so Chinese tilapia businesses pushed up export of tilapia to the Mexico.
So far, Mexico is still a large importer and the potential of Vietnamese Pangasius and Basa. Compared to other large markets, the average import prices in Mexico is not high, but it is still a remarkable market in 2019.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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