But ready-prepared seafood, fresh salmon and pre-packed portions offer clear opportunities for seafood players.
In general, sales of fresh fish are tipping slightly downward, but due to the French consumer's enduring appetite for fresh salmon, in the last 12 months up until the end August, sales of fresh fish rose by 3 percent. Fresh salmon now represents about a quarter of all fresh fish sales in
Salmon sales helped to bring fish sales ahead of other competing proteins. Fresh meat sales fell by 2 percent, and poultry consumption stabilized with the year-ending in August, according to FranceAgriMer.
But in terms of value, the average price of all fresh fish actually fell by 2 percent due to the significant 16 percent fall in the price of fresh salmon. The fall in salmon value negated the overall rise in price for all other fish species.
While whole fish sales continue to fall, pre-packed and filleted fish are an increasingly popular choice for French consumers. In 2012, a considerable 68 percent of all fresh fish was sold in pre-packed portions, compared to 63 percent in 2003.
Increased fresh seafood prices are “playing a role in the slowing down of consumption,” according to France AgriMer. Fresh bivalve sales fell by 2 percent, 9 percent for scallops and cephalopods, and 11 percent for crustaceans.
Deli products, by comparison, have suffered less, with only a light 1 percent fall in consumption over the past year.
Ready-prepared seafood recorded a healthy 4 percent hike in volume sales. A further bright spot is frozen breaded fish, which saw sales rising by 3 percent.
By contrast, frozen and canned seafood witnessed a downturn in consumption.
"We continue to note that the consumer is increasingly moving toward processed products," writes the government food agency.
Between 2003 and 2011, the deli slice of the market rose by nearly 10 percent, moving from 18 percent to 27 percent. This growth has largely to the detriment of fresh seafood, whose share has shrunk from 40 percent to 35 percent.
French exports of aquatic products (not including tuna, feed and oils) fell 2 percent in volume in the last 12 months to September. The average export price rose by 5 percent for the majority of products, equating to a 3 percent rise in value for exports.
And in the 12 months up until the end of August this year, imports of aquatic products (not including tuna, feed and oils) fell by 2 percent in volume. However the average price of products rose by 2 percent, enabling the total value of imports to remain stable.
(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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