In April 2014, shrimp exports continued sharp growth of 69 percent, pushing total shrimp exports through April 2014 to US1.12 billion (up 82 percent). Whiteleg shrimp exports doubled export value of black tiger shrimp.
Among top 10 largest importers of Vietnam shrimp, Japan was the only one that reported the decline in shrimp imports from Vietnam in April 2014 while Vietnam's shrimp exports to other markets saw a drastic growth such as exports to the U.S. up 104.4 percent, EU up 140.7 percent (in which exports to Belgium up over 212 percent), China up 170 percent.
The decline in shrimp exports to Japan was mainly due to Japan's Oxytetracycline (antibiotic used in shrimp farming) inspection on Vietnam shrimp. In the first two months of 2014, shrimp exports to the market marked the monthly growth of 60 percent. However, in March 2014, exports of the item to Japan went up only 1.2 percent year on year. In April 2014, exports downed 15 percent. With the detection of OTC in two shrimp consignments imported from Vietnam, since mid March 2014, Japan has decided to inspect OTC in farmed shrimp products from Vietnam with its MRL of 0.2ppm.
Through April 2014, shrimp exports to the U.S. reported good results thanks to rapid increase in domestic whiteleg shrimp production and shortage of shrimp supply from Thailand (the largest shrimp supplier to the U.S.). Despite "cooling down", global shrimp price still stays on high levels.
Until April 2014, shrimp exports to the U.S. increased by 167 percent year on year to US$355 million. The U.S. is the leading importer of Vietnam shrimp with the proportion of 31.6 percent, higher than that of the same period of 2013 (21.4 percent).
(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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