In August 2021, exports of shrimp, pangasius, tuna, squid, octopus, crabs and other marine fish all decreased by 20-33% over the same period in 2020. However, thanks to high export results. in the first 7 months of the year, the cumulative increase in the first 8 months of the year still increased by 7%, reaching 5.6 billion USD. In which, shrimp exports reached nearly 2.45billion USD, up 6%, pangasius exports still kept growing by 8.8%, reaching 993 million USD. Tuna export in 8 months also increased by over 12% to 460 million USD. Meanwhile, exports of squid, octopus and other fish (except tuna and pangasius) increased slightly by 4-5%.
Currently, some provinces south of Hau river such as Soc Trang, Ca Mau, Bac Lieu, Kien Giang... have good disease control and flexibility, so the production situation will recover sooner. These are the key provinces for shrimp production and export, so shrimp products are expected to help limit the sharp decline in seafood exports in the last months of the year.
Pangasius production and processing is concentrated mainly in the northern provinces of the Hau River, still heavy because of 3 local production, more than half of the factories have to close, the pangasius export situation is difficult to improve in the month. next.
Similarly, Ho Chi Minh City and the Southeast provinces have many factories and enterprises processing and exporting marine products such as squid, octopus, tuna, and other marine fish. With the current Covid-19 outbreak, production and exports in these areas will continue to stagnate in September.
Therefore, it is forecasted that seafood exports in September will continue to decrease by at least 20% to about 660 million USD. With the scenario after September, most seafood processing workers are vaccinated, companies do not have to produce under strict distancing regulations, exports in the last 3 months of the year will recover slightly and can reach about 8.5-8.6 billion USD. In which, shrimp exports are forecast to reach about 3.9-4 billion USD, pangasius about 1.5 billion USD, export of marine products about 3.1 billion USD.
(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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