During the month, finished shrimp production reached 1,497 tons, a 3% increase year-over-year. Consumption of finished shrimp stood at 1,648 tons, up 1.5% from the previous year.
Meanwhile, finished agricultural product output for November was 42 tons, a 59% decrease year-over-year, with consumption at 95 tons, down 16%.
Overall, November revenue reached $18.38 million, representing a 5% year-over-year growth but a 21% decline compared to October. For the first 11 months of 2024, Sao Ta achieved approximately $228.63 million in revenue, exceeding its full-year target of $210 million.
Regarding the shrimp farming, FIMEX has completed stocking the new area (203 hectares) and is in the process of stocking the old area (322 hectares), expected to be completed by December 20.
On October 22, 2024, the U.S. Department of Commerce (DOC) announced the final results of its countervailing duty (CVD) investigation on frozen warm-water shrimp from Ecuador, India, Indonesia, and Vietnam. The DOC set a CVD rate of 2.84% for Vietnam's shrimp industry.
Following the DOC's announcement, the U.S. International Trade Commission (ITC) will issue its final ruling on December 5, 2024. If the ITC delivers a final decision, the order will be issued on December 12, 2024.
Sao Ta assesses that the 2.84% CVD rate will officially pose a significant barrier for Vietnam's shrimp industry in this market. If the ITC concludes that the subsidies do not significantly affect the U.S. shrimp industry, the case will be dismissed.
"This “judgment day” is of critical importance for shrimp businesses exporting to this market. When planning their 2024 business strategies, shrimp companies likely did not anticipate the complexity of this case. Clearly, the mandatory tax payment will significantly impact their performance. FIMEX is also highly concerned and eagerly awaiting this “judgment day”. Because if the ruling is favorable, FIMEX expects to recover no less than VND 40 billion from its tax reserves, which would positively contribute to achieving its 2024 business goals," Sao Ta stated.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
(seafood.vasep.com.vn) On December 11, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) was once again honored in the "Top 50 Most Effective Businesses in Vietnam" ranking, compiled annually by the Investment Bridge Magazine. This marks the 11th consecutive year Vinh Hoan has been recognized in this prestigious list.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
