It is shrimp exports that led to this growth. Shrimp exports is expected to reach the highest recorded value, at over US$ 4 billion, up 25% year on year. In Vietnam, shrimp is the seafood export item with the highest growth rate.
The growth of shrimp export offset the decline in export of some other items and therefore kept the total seafood export value increase. Export value of whiteleg shrimp continued to sharply increase and by the end of 2014, export value of the shrimp nearly doubled that of black tiger shrimp.
The US continued to be the leading market for Vietnam shrimp exports, despite the fall in shrimp exports to the US in some last months of the year. Shrimp exports to the EU continued its increasing trend. The EU became the consumption market with the highest growth among major markets for Vietnam shrimp.
The US, Japan and the EU are three major markets for shrimp exports. Markets such as South Korea, Australia, Canada witnessed double digit growth.
As bilateral agreements with the major markets are about to be signed, especially the Free Trade Agreement between Vietnam and EU, from the beginning of 2015, Vietnam seafood exports will enjoy more tax incentives. This however also comes with high requirements from international standards.
According to Mr. Nguyen Hoai Nam, Deputy General Secretary of VASEP, seafood import demand from the US, EU, Japan is high but Vietnam has to be competitive by improving quality of products. Only by this way can Vietnam seafood exports maintain growth and become better.
Brackish water shrimp rearing also rose to catch up with exports. This is considered as a highlight in aquaculture in 2014. As shrimp farming in Thailand and China still suffered from diseases, intensive rearing has been developed. To offset the shortages in Thailand and China, there was a big shift from black tiger shrimp to white leg shrimp in Vietnam.
Reportedly, in 2014, brackish water shrimp was farmed in the total area of 685,000 hectares, consisting of 590,000 hectares for black tiger shrimp and 95,000 hectares for whiteleg shrimp.
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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