Seafood trade surplus rises by 17.5% in first 11 months

According to a recent report from the Ministry of Agriculture and Rural Development, aquaculture production in November was estimated at 576.9 thousand tons, a 4.8% increase compared to the same period last year. This includes 382.5 thousand tons of fish (up 3.9%) and 130.7 thousand tons of shrimp (up 7.7%). For the first 11 months of 2024, total aquaculture production is estimated at nearly 5.2 million tons, reflecting a 3.9% year-on-year increase, with fish contributing nearly 3.4 million tons (up 3.8%) and shrimp 1.2 million tons (up 5.3%).

Among key aquaculture species, pangasius production in November reached an estimated 185.6 thousand tons, up 4.7% year-on-year, with a cumulative total of 1.6258 million tons for the first 11 months, also up 4.7%.

Black tiger shrimp production in November is estimated at 26.1 thousand tons (up 5.7%), while whiteleg shrimp production reached 96.0 thousand tons (up 8.4%). Over 11 months, black tiger shrimp production totaled 260.9 thousand tons (up 2.9%), and whiteleg shrimp reached 894.9 thousand tons (up 6.1%).

Fishing production in November was estimated at 287.9 thousand tons, up 0.8% year-on-year, including 216.1 thousand tons of fish (up 0.8%) and 13.3 thousand tons of shrimp (unchanged). Favorable weather and lower fuel prices, compared to the previous year, supported fishing efforts, especially after two months of recovery from Typhoon No. 3 and continuous tropical depressions in the North Central Coast. Marine fishing production for November is estimated at 266.9 thousand tons, a 0.6% increase year-on-year, bringing the cumulative marine fishing total to nearly 3.4 million tons over 11 months, up 0.6%.

In November, increased demand boosted prices for pangasius and whiteleg shrimp in several provinces. Average pangasius prices in the Mekong Delta were 28,587 VND/kg, with higher prices recorded across various provinces: Vinh Long (29,000 VND/kg, up 455 VND/kg), An Giang (29,196 VND/kg, up 744 VND/kg), Dong Thap (27,500 VND/kg, up 400 VND/kg), and Tien Giang (28,650 VND/kg, up 445 VND/kg) for fish weighing 800 grams to 1.1 kg each.

The average price of whiteleg shrimp (50-60 count/kg) in November was 103,000 VND/kg, up by 5,000-8,750 VND/kg compared to the previous month. In Bac Lieu, shrimp at 50 count/kg was priced at 130,000 VND/kg, while 60 count/kg was 120,000 VND/kg. Prices for iced shrimp (100 count/kg) fell, with Kien Giang reporting 77,000 VND/kg (down 3,714 VND/kg).

Vietnam's seafood export value reached $9.2 billion in the first 11 months, an 11.8% increase year-on-year. Seafood imports in November were estimated at $230 million, bringing the total for the first 11 months to $2.32 billion, down 2% compared to 2023. Major import sources included Indonesia (12%), Norway (11.8%), and China (10.3%), with year-on-year increases of 52.2%, 9.5%, and 22.2%, respectively.

The agricultural, forestry, and fishery trade surplus reached $16.46 billion in the first 11 months of 2024, a 52.8% increase year-on-year. Among the top three trade-surplus categories, seafood achieved a surplus of $6.88 billion, up 17.5%.

For specific products, seven agro-forestry-fishery items exceeded $1 billion in trade surplus during the period. Notably, shrimp recorded a surplus of $3.19 billion (up 20.5%), while pangasius achieved a surplus of $1.72 billion (up 10.1%).