In the first four months of 2012, while many main agricultural products witnessed a continuous reduction in the export turnover, seafood exports remained a positive revenue of nearly US$1.8 billion, up 11 percent over the same period of 2011.
In April alone, the figure was US$470.1 million, up 0.9 percent. However, the above seafood export growth posted the weakest performance in the past three years due to a lot of troubles. The growth is positive in aspect of value but in aspect of profit, it is reducing.
In the wake of heaped up bottlenecks, seafood enterprises must face lack of capital and raw material, soaring input costs, the reduction in the number of importing markets. As a result, exports of two main items (shrimp and pangasius) has signs of reducing since April, in which shrimp exports fell by 6.5 percent to US$163.2 million, black tiger shrimp exports fell by 22 percent due to shrimp mortality caused by plague and low demand for high-grade products. Pangasius exports reached only US$143.6 million, down 0.9 percent over 2011. Fish shipment will continue to fall if enterprises and farmers are not supported by loans from banks.
Now, seafood exports are unfavorable due to economic recession and low demand of importers. EU remains a key importer of Vietnam seafood with the export proportion of 19.6 percent, lower than that of the same period of 2011 (nearly 25 percent).
Exports to EU will continue to decline due to persistent financial crisis. In Jan – Apr 2012, seafood exports to the block decreased almost 12 percent in which shrimp exports fell by 30 percent and pangasius fell by 14 percent. The growth in seafood exports to the U.S. was more positive but only equal to one third over that of the same period of 2011.
The sharp decline in exports to the key markets drove seafood enterprises to Asia, especially Japan. In April 2012, seafood exports to Japan was up 32 percent, higher than that of the same period of 2011(3 percent) and the export proportion also rose from 14 percent in Jan – Apr 2011 to nearly 18 percent in Jan – Apr 2012.
However, Japan is increasingly imposing technical barriers to Vietnam seafood. Since May 18th 2012, Japan has tested Ethoxyquin residue on 30 percent of Vietnam shrimp consignments imported to the market with maximum residue limits of 0.01 ppm. While in Japan, Ethoxyquin is allowed to use in shrimp feed with maximum residue limits of 150 ppm.
In Jan – Apr 2012, top 10 seafood exporters made up 21.5 percent of total seafood exports of the whole country, higher than that of Jan – Apr 2011 (19.3 percent). This is an opportunity for seafood export sector to restructure, remain a stable and sustainable development. However, in hard economic situation, competent agencies need to bring out measures to help enterprises recover and develop in the future.
From now to the end of this year, seafood exports is expected to keep a two digit growth. By enterprises’ efforts in reducing input cost to lower the products’ price, increasing competitive ability, remaining consumers, ensuring labours’ life and employment, seafood exports will recover and develop in the next year, many experts predicted.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
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