<p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">Out of Visakhapatnam's 600 mechanised boats, a whopping half is tied up in port because fishers cannot afford the increasing operational costs. Of the regular operators, 60 to 70 have resorted to long liners to catch tuna, The Hindu reports. A fisher must invest about INR 300,000 (USD 6,058) for tuna long-lining.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">Boat owners say tuna availability is very high in deep waters and that initial responses are already encouraging.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">For a 15-day voyage, boat operators say they need 2,500 to 3,000 l of diesel. Subsidies are being granted but only for boats registered up to 31 March 2002.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">The subsidy has not been reviewed despite increasing fuel costs in the last two years.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">Burgeoning demand for tuna has prompted mechanised boat operators to venture northward to Kalingapatnam, Puri and Paradip. But the success of tuna fishers largely depends on winds, as heavy breezes get in the way of catches.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">On average, the boats get 50 to 70 pieces of tuna weighing from 25 to 60 kg when they embark on a two-week long fishing trip. Agents then purchase the tuna at the Visakhapatnam fishing harbour and later airlift it to Chennai for export.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">Infrastructure, necessary for making a big centre for tuna exports out of Visakhapatnam, is still lacking despite the efforts of the National Fisheries Development Board (NFDB) and Marine Product Export Development Authority (MPEDA) to promote tuna as part of sustainable fishing.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">“Existing facilities are woefully-inadequate. For trained manpower and world-class infrastructure, we are ready to offer joint collaborations”, Australia's Trade Commissioner Michael Carter said.</span></p>
(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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