Imports of bigeye tuna by Japan followed a similar trend, with a 29 percent fall for frozen bigeye when comparing August numbers for 2012 and 2013. Fresh bigeye imports also took a hit, declining 27 percent from 2,117 tons to 1,525 tons.
A 12.3 percent fall in Japan’s seafood imports as a whole from August 2012 to August 2013 are thought to be fueled by the drastic decline in the imports of these two tuna species.
Yellowfin and bigeye tuna are important products for the lucrative Japanese sushi market. The tuna is often hyper-frozen instantly to temperatures as low as -16 degrees Celsius to preserve the freshness of the tuna. In August 2012 alone, Japan imported as much as 14,774 tons of frozen bigeye. This figure dropped to 10,487 tons in August this year.
Concerns surrounding the stock status of both bigeye and yellowfin have grown due to high by-catch numbers of juvenile tuna caught from fishing on Fish Aggregating Devices (FADs). The Western and Central Pacific Fisheries Commission (WCPFC) has made strong efforts to reduce the amount of fishing on FADs by tuna fleets fishing in the Pacific Ocean.
A whole 50 percent of the world’s canned tuna is caught using FADs by vessels catching skipjack. The by-catch of juvenile bigeye tuna from this activity in the Western and Central Pacific Ocean was just less than 80,000 tons in 2010, and has risen severely from around 3,000 tons before the beginning of the FAD boom in 1980.
Declining stock levels of these tuna species can affect the ability for tuna fleets to catch adult yellowfin and bigeye, leaving less catch available for global exportation.
(seafood.vasep.com.vn) On the afternoon of November 6th, Vietnam time, U.S. media announced the preliminary vote count showing that Donald Trump won the 2024 U.S. presidential election. His victory is expected to bring significant changes in taxes, trade, investment, and more. As a result, Vietnam's tuna exports will also be affected.
(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%.
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