By the end of the first quarter, the US still accounted for the highest proportion in the total shrimp exports of Vietnam with over 20%, reaching 134.6 million USD, up 16.5% over the same period last year. Japan ranked second with 126 million USD, accounting for 19%, but compared to the same period in 2020, it decreased 4%, due to a sharp decline in the first 2 months of the year, although exports to this market in March were equivalent to the same period last year.
Shrimp exports to the EU increased by 8% to 95 million USD, accounting for 14.5% of which exports to the main markets of the Netherlands, Germany and Belgium all grew 2 digits (up 10%, 16% and 10% respectively). These markets also increased strongly Vietnam shrimp imports in March: up 15%, 33% and 38% respectively. These three markets account for over 70% of Vietnam's shrimp exports to the EU.
The two markets Australia and the UK are accounting for a remarkable proportion in the total shrimp exports of Vietnam in the first 3 months of this year with 6.2% and 6.1%, worth $40.9 million and $40.4 million, increase 46% and 11.5% respectively over the same period in 2020.
In addition to the UK, shrimp consumption in Russia also increased sharply, making shrimp imports from Vietnam up 102% in the first quarter, reaching $11.2 million.
In the first quarter of 2021, whiteleg shrimp is still the most popular in the markets. In the context of the Covid epidemic, the consumption trend focuses on retail channels and supermarkets, so small shrimp suitable for home processing has more demand than large, high priced shrimp. Vannamei exports in the first quarter reached $ 507 million, up 15% over the same period last year, accounting for nearly 77% of shrimp export turnover. In which, processed whiteleg shrimp (HS code 16) gained a higher proportion with 263 million USD, up 22%, while frozen shrimp (HS 03 code) reached 243 million USD, up by 8%.
Meanwhile, black tiger shrimp exports continued to decline by 26%, reaching nearly 92 million USD and only accounting for 14% of shrimp exports. Japan, China and the US - the three largest markets, all sharply reduced the import of black tiger shrimp from Vietnam, down 24%, 30% and 41% respectively over the same period last year.
Export of marine shrimp accounted for 9.5% of the total export of shrimp, reaching US$ 62.7 million, down 3% over the same period last year. In which, the export of processed shrimp and frozen shrimp decreased by 8.7% and 10%, respectively. Meanwhile, the export of dried shrimp increased sharply by double compared to the same period 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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