By the end of August, seafood exports to the US still maintained a growth rate of nearly 27%, and to the EU increased by 10%. Exports to Korea are equivalent to the same period last year. In the top 5 markets, exports to China fell deeply by 14.6%, exports to Japan decreased by nearly 3%. Besides the US and EU, exports to Australia and Russia after 8 months still maintained high growth, increasing by 25% and 52% respectively over the same period last year.
The Covid-19 epidemic broke out strongly in the focus area of Vietnam's seafood, accounting for 90-95% of the country's seafood export turnover as well as the industry's workforce, causing difficulties for the business community.
The seafood export results in August 2021 clearly reflected the impact of the Covid-19 epidemic on the seafood industry. With a turnover of USD 588 million, seafood exports in August 2021 decreased by nearly 28% compared to the same period last year and decreased in most key products. Exports of shrimp, pangasius, tuna, squid, octopus, crabs and other marine fish all decreased by 20-33% over the same period in 2020.
Exports to all markets in August 2021 decreased by 16 - 50% compared to the same period in 2020.Accordingly, exports to China and Japan both decreased sharply by 36%, to the EU decreased by 32% (only to the Netherlands decreased by nearly 50%, Germany decreased by 42%). Exports to the US and Russia decreased by at least 16%. Exports to the UK fell by 48%, to Australia and Canada by 35% and 37% respectively.
However, with the policy of supporting and promptly removing difficulties, obstacles and bottlenecks hindering production and trade activities of enterprises before the impact of the COVID-19 epidemic, as content of Resolution No. 105/NQ-CP dated September 9, 2021 of the Government, seafood enterprises hope to have conditions and support programs to resume supply chains and gradually restore production and export from now on. 9/15. With the situation of epidemic control getting better, the policies and measures to combat the epidemic that are reasonable and suitable for both economic goals, seafood exports will accelerate in the last 3 months of the year, especially from October - the time when demand and export orders often increase.
(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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