Amid European economic downturn, shrimp imports into Germany witnessed deep dive because it is a price-sensitive market.
In 2012, European economic crisis made Vietnam shrimp exports to the region reduce 24.5 percent in which exports to Germany (making up 26 percent of total shrimp exports to EU) downed 27.8 percent.
Vietnam shrimp sales to Germany have recovered since the second half of 2013 and posted a robust growth in the early 2014. Through May 2014, Vietnam earned back US$50.9 million from selling shrimp to the market, up 92.7 percent year on year.
Vietnam is the second largest supplier of frozen shrimp to Germany behind Thailand. According to the International Trade Center (ITC), Germany’s imports of the item from Thailand in 2013 downed 11 percent while imports from Vietnam to the market up 3.6 percent.
Facing many difficulties, particularly a 50 percent reduction in its shrimp production caused by EMS, Thailand reduced sharply its shrimp exports to many markets in 2013. Thailand’s shrimp exports to the U.S. (its leading shrimp consuming market) marked the decrease of 38 percent.
The proportion of whiteleg shrimp dominated that of black tiger shrimp among Vietnam’s total shrimp exports to the market. In 2013, the proportion of Vietnam’s whiteleg shrimp exported to the market hit 53.4 percent while black tiger shrimp made up nearly 40 percent.
Through May 2014, the proportion of Vietnam’s whiteleg shrimp exports to the market increased to 61.8 percent while black tiger shrimp downed its proportion to 30 percent.
With the population of 80 million of people, Germany is the most powerful economy in EU with high consumption demand of many commodities. In 2013, Germany was the 7th largest of seafood importer behind the U.S., Japan, France, Spain, China and Italy with the import volume of 983,554 MT, worth by US$5.34 billion.
With expected recovery in its economic growth in 2014, Germany will continue to raise its shrimp imports in the last months of the year.
(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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