According to US Department of Commerce statistics, in the first 5 months of 2019, US catfish imports decreased in all suppliers (Vietnam, China, Thailand and Guyana). However, this country imported more pangasius from 2 new suppliers (Spain and Taiwan) compared to the previous quarter. In particular, Vietnam still accounted for 91.6 - 96% of total US imports of pangasius.
According to the International Trade Center (ITC), the US imported frozen tilapia fillets worth US $ 417 million from China in 2018. The second largest supplier was Indonesia, having the import value of around US $ US$41 million. However, since May 10, 2019, when the US officially raised the tax rate on imported seafood products from China from 10% to 25%, the shock of Chinese tilapia exports has slowed down the speed of China.
Tilapia is also the largest competitive product with Vietnam pangasius in the US market. According to statistics of the US Department of Commerce, by the end of June 2019, imports of frozen tilapia (Oreochromis Spp) from China fell by 13% in volume and 16% in value over the same period in 2018; Import of frozen NSPF tilapia from China also dropped by 28% in volume and 27% in value over the same period in 2018.
Businesses hope that the decrease in Chinese tilapia market share in the US shall create opportunities for Vietnam pangasius in this market. Having said that, in QII/2019, the export value of Vietnamese pangasius to the US dropped sharply by nearly 42% over the same period in 2018.
Moreover, according to ITC statistics, in the first 5 months of 2019, the US reduced imports of white meat, which not only Chinese tilapia but also pangasius products from Vietnam. In contrast, this country rose imports of white fish from Norway; Iceland; Canada, Chile, even climbed imports from Russia.
In QII/2019, Vietnamese enterprises exported mainly frozen pangasius fillets and frozen pangasius well trimmed to the US with prices ranging from US$1.01 - US$5.54/kg.
With the current export situation, it is predicted that in the last two quarters, pangasius export to the US market will be likely continue to decline.
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn