According to statistics from Vietnam Customs, pangasius exports to South Korea reached nearly US$3 million between January and June 2013, up 32 percent against the same half of 2012. This period, Korean imported about 495,350 MT of seafood products (HS code 03) valued at US$1.509 billion, compared to 508,536 MT and US$1.598 billion in the first six months of 2012, according to International Trade Center (ITC). In the second quarter of 2013, there were 251,193 MT of fish products introduced into the market, up 2.88 percent on that of the first quarter. Vietnam was Korea’s third supplier after China and Russia, with 23,160 MT of seafood products, up 10.9 percent from Q.I/2013.
With a rise in pangasius exports, Vietnam has passed China to be the leading partner of South Korea in frozen fish fillets segment since 2010. The ITC stated that Korea purchased 46,170 MT of frozen fish fillets from Vietnam. The figure soared to 68,051 MT in 2012. China ranked second with 46,068 MT in 2010, but the volume fell to 21,391 MT in 2012.
Vietnam, China, Russia and the U.S. were the four leading suppliers of frozen fish fillets to South Korea. In 2012, Vietnam ranked first with 116,865 million, madding up the 30.6 percent of Korean total imports of this kind of product. The U.S. with 11.5 percent of share followed it. Both Russia and China made up 10.5 percent of the total. Though being the second provider in terms of volume, China just ranked fourth in terms of value.
Koreans consume different fish products and in different form: live, fresh, salted or frozen fish in order of preference. They assume that live and fresh fish taste better than frozen ones after cooking. Accordingly, fresh or chilled fish tend to be more expensive than the frozen one.
Consumption of seafood and pangasius products is expected to be stable in the coming time because Korean consumers seen these products as a high nutrition source.
(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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