<div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">If the Island nations that form the nucleus of this fishery do not take action to reduce the pressure on the resource, stocks of bigeye and yellowfin tuna, the mainstay of the Japanese sashimi trade, will be severely damaged.</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">At the OPRT seminar on February 10 Jiro Suzuki - the Pelagic Fish Section Chief of the National Research Institute of Far Seas Fisheries -announced the results of a recent study. The tuna fishing industry is rapidly escalating in strength, with the increasing fish-catching ability of small to mid-size long-liners leading the growth. Considering this fish-harvesting potential Mr. Suzuki stressed the need to look closely at how the existing regulations are working, and to strengthen them to protect the fishery. </span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">The backdrop for this change is the combination of the smaller, cheaper fishing vessel and refrigerated shipping containers. This combination has become an internationally competitive new business model with a worrying effect on the operation of Japanese fishing vessels. </span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">The impetus for this study was a declaration the OPRT received last year from the PITIA (Pacific Islands Tuna Industry Association) of the following points;</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">-In the South Pacific the catch of albacore and the number of fishing vessels has increased dramatically. </span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">-The use of refrigerated containers maintaining -60°C and small long-line vessels equipped with super-refrigerated storage capacity is a prominent trend.</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">-Depletion of bigeye and yellowfin tuna resources, taken as by-catch is of very serious concern.</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">On receipt of this declaration the OPRTs Professor Suzuki instigated an urgent study by consulting experts in the various RFMOs.</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">The results of Professor Suzuki’s investigation announced at the OPRT Seminar are as follows;</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">- Statistics provided by the worlds RFMOs are utterly inadequate, with the one exception being the IOTC. According to their figures there are 1500 vessels under 24 meters and 600 vessels over 24 meters. Referring to Japanese foreign trade estimations of unloading statistics from Chinese, Taiwanese, Micronesian and other countries’ vessels – small fishing vessels are on the increase, and albacore are being landed in increasing numbers.</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">-Small long-line vessels (50-150ton class) equipped with on-board super-refrigeration capacity are being built in the shipyards of Taiwan and Fiji.</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">-At the fishing ports in the area traditional refrigerated carriers are increasingly being replaced by super-refrigerated containers. Such containers are versatile and well suited to handling and delivering small consignments.</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">-With operating costs of refrigerated containers becoming increasingly economical and the increasing fish catching ability of small long-liners; these vessels are now operating throughout the WCPFC area. Increasing pressure on big-eye and yellowfin tuna resources is also very worrying with these species, taken as by-catch, representing 8-10% of the total catch of these vessels.<br /> -It is necessary that fishing industry committee members understand the operations of different types of fishing vessels. In the past the small long-liner has been regarded as a minor player and largely ignored, however it is now clear that they have developed fish catching abilities equivalent to large vessels. Measures are required to prevent over-fishing and Mr. Suzuki appealed to the Japanese government to show initiative in this area.</span></div> <div style="text-align: justify; line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-size: 10pt">After Professor Suzuki’s presentation, members of the audience voiced their concern over the worsening economics of operating large long-liners, compared to the competing smaller vessels, in combination with refrigerated containers. Increasing oil costs serve to exacerbate this problem, according to many in the audience. </span></div>
(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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