Agriculture Secretary Proceso J. Alcala said the target is 6.48 percent higher than the original fisheries output target for 2012. “Fisheries production for next year will be lead by aquaculture with a production target of 2.98 MMT,” said Alcala in a report he presented before the House of Representatives recently.
The fisheries subsector, which has buoyed farm growth in previous years, registered slower growth from January to June. For the first half of the year, total fisheries output declined by 3.33 percent, according to figures released by the Bureau of Agricultural Statistics (BAS).
The BAS said the decline in output was mainly due to the lower production of commercial and municipal fisheries. The lower catch of commercial fishermen was attributed to the closure of a portion of the high seas in the Pacific Ocean for tuna fishing while typhoons prevented small fishermen from going out to sea.
Bureau of Fisheries and Aquatic Resources (BFAR) Director Asis Perez expressed confidence that despite the decline in fisheries output for the first half, the fisheries subsector would still be able to post a growth of 1 percent for the rest of 2012.
The Philippine government is banking on the re-opening of a portion of the high seas in the Pacific Ocean for tuna fishing in September to prop up commercial fisheries for the rest of the year.
The BFAR is also hopeful the restrictions it has put in place such as the banning of sardine fishing in Zamboanga last year would allow fish species to regenerate and consequently increase the catch of fishermen.
Last year the fisheries subsector posted a 4.07-percent drop in output owing to the decline in the production of commercial and municipal fisheries. Fisheries production for 2011 settled at 4.98 MMT, with aquaculture accounting for most or 2.6 MMT of total output.
The BAS said the continuous increases in the prices of fuel and oil was cited as a major factor behind the decline in commercial fisheries output. Also, the BAS said typhoons and high-operating costs reduced the fishing activities of small fishermen last year.
(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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