In the past 10 years, from 2011-2019, the export value of pangasius to Russia has been unstable and tended to decrease. In particular, from 2011 to 2012, pangasius exports reached the highest level from 51-54 million USD. After that, export value of pangasius gradually decreased and fluctuated erratically over the years.
Currently, Vietnam is the second largest supplier of white fish in Russia (after China). In particular, 100% of basa fish and pangasius at Russian market imported from Vietnam and mainly in the form of frozen fillet. This is also a traditional market which is willing to use yellow frozen pangasius products.
According to ITC statistics, in the first 2 months of 2019, the average price of imported pangasius from Vietnam has increased from 1.88 to 2.5 USD/kg in 2018 to 2.66-2, 67 USD/kg.
After the Vietnam Free Trade Agreement - Eurasian Economic Union (EAEU - include Russia, Republic of Belarus, Kazakhstan, Armenia and Kyrgyzstan) was signed in 2015 and officially came into effect in 2016, experts predict that there will be more opportunities for tra and basa fish to the Russian market. With a basic tax rate of 10%, fillet pangasius and basa products (HS 030462) will enjoy a 0% tax rate. However, in fact, Pangasius and basa enterprises are finding it difficult to take advantage of FTA to increase export activities. According to some enterprises, this is a volatile market. Moreover, compared to many other importers, export prices to this market are not really attractive.
Currently, China focuses on tilapia, while Vietnam with tra and basa fish and Argentina with hake fish. These three white fish products are fiercely competing in the Russian market. But in terms of trade history, the Russian market still gave more favor to Chinese tilapia products. Therefore, Vietnamese pangasius companies still have not paid much attention to increase exports to this market.
(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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