Speaking at a seminar on "Product quality – foundation for sustainable development of the pangasius industry" in Can Tho last week, VPA Chairman Duong Nghia Quoc said the association would continue to boost production, develop consumer markets, promote sustainable growth, and actively integrate into the world market.
It would strictly enforce the regulations on fishing and traceability of seafood products and work towards getting the European Union to soon remove its ‘yellow card’ warning for Vietnamese aquatic product exports.
The pangasius processing and export industry has made a breakthrough in all aspects last year, with farming area, output and export revenues all reaching their highest figures ever.
Its export revenues had topped 2.1 billion USD last year, with the US being the largest market followed by China and the EU.
Raw fish output had topped 1.3 million tonnes and they had fetched 30,000-35,000 VND per kilogramme, enabling farmers to earn profits of nearly 50 percent, and many expanded their farming areas.
Vo Hung Dung, permanent deputy chairman of the association, said: "I do not have official statistics for the farming area but it is very large, with many farming up to several hundred hectares." He warned that prices could fall this year.
The industry would face increasing competition from regional countries that had conditions to develop pangasius farming in future.
To develop the industry in a sustainable manner, it was necessary to restrict the mass development of farming areas.
Quoc said farmers had to ensure quality, reasonable prices and environment protection.
Promoting pangasius quality would be done through improving broodstock quality.
The industry would enhance the use of technology to improve product quality and reduce costs.
Dung said the US Department of Agriculture’s Food Safety and Inspection Service had recommended that the Office of the Federal Register should amend the catfish inspection regulations and list Vietnam as a country eligible to export catfish and catfish products to the US.
“This has had a positive impact on the industry.”
VNS/VNA
(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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