Exports to the US, EU, and Korea reversed
In April this year, Vietnam's shrimp exports saw a change in import trends in the main markets. If in previous months, exports to the US and China and Hong Kong recorded strong growth rates, in April this year, exports to the US decreased and to China and Hong Kong only increased slightly.
Exports to the Korean market increased slightly again after decreasing in the previous two months. After 2 months of deep decline, exports to the EU market recovered growth in April. The EU is the main market, recording the best growth in April this year.
Shrimp exports to the US in April 2024 decreased by 15% after still growing slightly in March. In the first 4 months of this year, Vietnamese shrimp exports to the US reached 168 million USD, up 5% over the same period.
Shrimp imports into the US from supply sources in the first quarter of this year recorded an increase in volume and a slight decrease in value. In March of this year, the US again skyrocketed shrimp imports from Ecuador, with an increase of 25% and 24% in volume and value, respectively. This may cause the US to reduce imports from other sources.
Vietnam's shrimp industry is in the "suspense" stage due to information related to countervailing duties. Currently, the US is considering recognizing Vietnam as a market economy, hoping to achieve positive results that will help remove countervailing duties barriers and relieve the burden on Vietnamese shrimp exporters that go to America.
Vietnamese shrimp exports to China and Hong Kong markets increased by 1.7% to 64 million USD in April this year. Accumulated in the first 4 months of the year, shrimp export turnover to this market reached 192 million USD, an increase of 41%. Shrimp exports to Korea also recorded a slight increase of 4% in April this year, and the turnover in the first 4 months of this year to this market reached 95 million USD, down 10%.
EU was the bright spot in April
Shrimp exports to the EU reached 38 million USD in April this year, up 28% over the same period. Accumulated in 4 months, the export value reached 119 million USD, almost equivalent to the same period last year.
In April, shrimp exports to the EU were quite exciting. Export value to the main single markets in the bloc all grew by double digits. Exports to Germany, the Netherlands, and Belgium increased by 29%, 37%, and 39%, respectively; exports to Denmark increased sharply by 88%.
The Global Seafood Exhibition 2024 takes place in Spain in April with the participation of many Vietnamese shrimp exporters. Here, fresh value-added shrimp products from Vietnam were promoted to European consumers and imports. Instant shrimp products are processed by businesses into many rich and diverse dishes and invited to enjoy right at the booths.
Vietnam's shrimp exports in the first 4 months of the year recorded an increase of 10% over the same period, a sign that inventories in markets have reduced. However, actual consumer demand has not yet shown a clear recovery. In the context of still facing many challenges, Vietnam's shrimp industry should promote the production of value-added products, focusing more on the farming stage to increase productivity, reduce costs, and increase competitiveness to increase export turnover. this year.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
(seafood.vasep.com.vn) Recently, the area dedicated to super-intensive, high-density whiteleg shrimp farming in Trà Vinh Province has been rapidly expanding due to its high productivity and economic efficiency.
(seafood.vasep.com.vn) In collaboration with provincial authorities, specialized agencies, and local coastal governments, seafood processing and export enterprises in Binh Dinh Province are actively working to address issues related to illegal, unreported, and unregulated (IUU) fishing. The shared goal is to have the European Union's "yellow card" removed this year.
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