Seafood exports are only around 8-10 billion USD/year, VASEP recommends establishing marine exploitation corporations

On the afternoon of 27/12, the Ministry of Agriculture and Rural Development held a conference to summarize the year of 2024 and deploy the plan for the year of 2025. Prime minister Goverment Pham Minh Chinh attend and direct the conference.

According to a report by the Ministry of Agriculture and Rural Development, in 2024, Vietnam's agricultural, forestry and fishery exports will reach 62,5 billion USD, an increase of 18,7% compared to 2023. The trade surplus will continue to reach a record 17,9 billion USD, an increase of 46,8%.

Of which, main agricultural products exported 32,8 billion USD, up 22,4%; livestock 533 million USD, up 6,5%; main forestry products 17,2 billion USD, up 19,4%; aquatic products 10 billion USD, up 12%. In addition, there were 7 export items over 3 billion USD.

On the afternoon of 27/12, the Ministry of Agriculture and Rural Development held a conference to summarize the 2024 year and deploy the 2025 year plan. Prime Minister Pham Minh Chinh attended and directed the conference. Photo: Tung Dinh

At the Conference, on behalf of seafood enterprises, Mr. Nguyen Hoai Nam, Secretary General of VASEP, shared about the export results of the seafood industry in 2024.

Mr. Nam affirmed that the above results were achieved thanks to the leadership and direction of the Prime Minister, leaders of the Ministry of Agriculture and Rural Development and leaders of the Ministries (Foreign Affairs, Industry and Trade, Finance, State Bank of Vietnam, etc.) who have always accompanied and supported the fisheries industry over the past time.

According to Mr. Nam, in 2024, with many difficulties and challenges from the impact of inflation, increased production costs, scarce raw materials for export, international competition, and climate change, the Vietnamese seafood industry, with many efforts, has achieved encouraging export results.

Seafood export turnover in 2024 has returned to the milestone of over 10 billion USD - not only contributing to the industry's overall turnover Agriculture Vietnam has also made its mark in a difficult global context. This figure does not include more than 250 million USD from fishmeal exports, an important source of raw materials for the animal feed industry.

In particular, the shrimp industry achieved an export turnover of 4 billion USD, an increase of 15% compared to 2023, although the shrimp consumption market in the world world is being affected by inflation and fierce competition from major producing countries such as India, Ecuador, Indonesia. However, thanks to the strategy of focusing on the strength of value-added products and diversifying product segments (whiteleg shrimp, tiger prawn, lobster, sea shrimp, etc.), the Vietnamese shrimp industry has maintained its competitiveness and developed stably.

Despite facing difficulties such as rising shipping costs and slow recovery in import prices, the pangasius industry will still return to the $2 billion mark in 2024, up 9% year-on-year. Traditional markets such as the US, Brazil, Colombia and CPTPP countries have become important drivers for the pangasius industry to recover.

Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that to achieve a value of 16 billion USD by 2030, one of the solutions is to establish marine exploitation corporations. Photo: Tung Dinh

Meanwhile, the export of exploited seafood (tuna, crab, squid, octopus, shellfish and other marine fish) also recorded success with a turnover of more than 4 billion USD, despite many difficulties in raw material sources and IUU regulations that must be complied with.

According to Mr. Nam, although the seafood export results in 2024 are very impressive, the seafood industry is still facing many major challenges in the context of rapid and uncertain global changes.

One of the outstanding issues that needs to be considered is that over the past 5-6 years, Vietnam's seafood export results have only been around 8-10 billion USD/year (except for 2022). Meanwhile, the industry's development strategy until 2030 (issued under Decision 339/QD-TTg dated March 11, 2021) targets an export of 14-16 billion USD by 2030. That means maintaining a double-digit growth rate of 2-10%/year.

“From the perspective of the growth of the fruit and vegetable industry, especially durian, it is felt that seafood exports need new growth drivers in the context of a world with too many uncertainties and rapid changes in the digital age,” said Mr. Nam, predicting that global seafood consumption growth will only reach 5-6% per year while the Vietnamese seafood industry aims for double-digit export growth in the coming time. To achieve this goal, the industry not only tries to maintain market share and increase value-added processing content, but also needs to research to have a suitable new growth model.

To achieve the export target of 14-16 billion USD by 2030, Mr. Nam proposed building an auction market (to sell at the best price for fishermen) and centralizing traceability data; Reviewing and amending regulations related to exploitation areas (shore, inshore, offshore).

At the same time, review and amend regulations related to the minimum exploitation size of some species - especially skipjack tuna, yellowfin tuna and migratory species; Consider opening up the export of shrimp (without S/C, C/C) to the EU market because shrimp exploitation only uses basket boats and is close to shore, creating favorable conditions for fishermen's lives.

In particular, there is a strategy to build a model of large corporations/enterprises in marine exploitation to cooperate with coastal countries - not only to expand the scope of operations but also to create new motivation for fishermen to exploit the sea, for a more abundant and sustainable source of raw materials.

For farmers: It is necessary to review legal regulations so that farmers can mortgage and borrow capital from banks normally; Issue water surface licenses to people (like "red books") so that people can borrow capital from funds or banks.

Focus on the issue of "seed", in which, more strictly control the circulation and consumption of poor quality shrimp seeds; as for pangasius seeds, there needs to be a plan for seed development and a priority mechanism for breeders, attracting participants; Provinces need to prioritize the use of land/water surface funds for aquaculture, including new areas and areas with expired leases, instead of focusing only on Travel, urban development.

Source: Vietnam.vn