In the period from 2019 to 2022, Vietnamese shrimp exports to the Middle East ranged from 41.5 million USD to 49.8 million USD. Shrimp exports to this market block tend to grow continuously from 2020 to 2022. In 2023, the unstable world economy poses many challenges for seafood exports in general and shrimp in particular. Therefore, Vietnamese shrimp exports to the Middle East certainly face a decline, but the decline is somewhat lighter than in other markets. The largest single import markets of Vietnamese shrimp in the Middle East region are Israel, Saudi Arabia, the UAE, Qatar, Lebanon, Turkey, Iran, Kuwait, etc. In the first 10 months of 2023, Vietnamese shrimp exports to some markets in the Middle East region recorded an increase compared to the same period last year, such as Saudi Arabia recording a 42-fold increase (reaching 7.6 million USD) and Iran recording an 8-fold increase (reaching 1.7 million USD), to Kuwait and Lebanon recorded double-digit growth; exports to Oman increased 16 times, and exports to Qatar increased 4 times.
The Middle East market area is considered potential because this area is not strong in fish farming and processing, so it depends heavily on food supply from imports. Natural conditions such as weather and soil are not favorable or suitable for agricultural production. To meet domestic demand, the Middle East must import up to 80% of food and foodstuffs, equivalent to 40 billion VND per year. Demand for seafood, including shrimp, is growing strongly, especially in markets such as Saudi Arabia, the UAE, etc. The Middle East market area has high requirements for imported food products, such as requiring Halal certification. Suppliers are required to process and package appropriately to meet this standard. This is a potential market for Vietnamese seafood, where the purchasing power is on par with the ASEAN market, and the potential can increase three times if it’s focused on development. There needs to be more information channels about the needs and requirements of this market area, along with support from state programs on market promotion, so that businesses have more development channels and increase export space here.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's tuna exports in October reached nearly $93 million, marking a 22% increase compared to the same period in 2023. In the first ten months of 2024, the total export value exceeded $821 million, up 18% compared to the same period last year.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports to the EU reached USD 7 million in the first half of October 2024, marking a 27% year-on-year increase. As of October 15, 2024, cumulative exports to the EU totaled over USD 134 million, reflecting a slight 0.01% decrease compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius export revenue in October 2024 reached nearly $202 million, a 17% increase compared to October 2023. The cumulative export value for the first ten months of the year totaled $1.7 billion, marking a 9% year-on-year increase.
(seafood.vasep.com.vn) Vietnam's exports of crabs and other crustaceans continued to see high growth in September 2024, with a 54% increase compared to the same period in 2023. In the first nine months of the year, exports of crabs and other crustaceans reached over USD 228 million, a 67% increase year-over-year.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached $394 million in October 2024, up 24%. In the first ten months of this year, shrimp exports brought in $3.2 billion, up 13% compared to the same period last year. Exports to all major markets recorded double-digit growth in October.
International Development and Investment Corporation (IDI), a key member of the Sao Mai Group, has consistently ranked among the largest seafood producers and exporters in Vietnam.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
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