In the first 9 months of 2021, although Vietnam's shrimp exports to South Korea did not increase sharply, they maintained a positive growth momentum from March to June. In July and August, exports to this market decreased because enterprises had reduced capacity in the first nine months of 2021. Covid-19 pandemic prevention period. Shrimp exports to this market in September recovered slightly by 3.6% to 30.8 million USD. In the first half of October this year, shrimp exports to South Korea increased by 26% over the same period last year. From the beginning of the year to the first half of October 2021, Vietnam's shrimp exports to South Korea reached nearly 278 million USD, up 0.9% over the same period in 2020.
Signs of recovery in shrimp exports to the Korean market are also in the plan of enterprises to boost exports to Asian markets to take advantage of the close distance and lower logistics costs compared to European and European markets. America. In the last months of this year, the Korean market is increasing import demand to meet people's consumption needs for year-end festivals and New Year's.
It is expected that Vietnam's shrimp exports to South Korea in the last quarter of this year will still record positive growth. Vietnam's shrimp exports to this market for the whole year of 2021 are expected to increase by about 3-5% compared to last year.
Korea mainly imports whiteleg shrimp from Vietnam with the proportion of 85% while the proportion of black tiger shrimp accounts for only 4%. In the first 9 months of this year, Korea increased imports of processed vannamei shrimp (HS code 16) and live/fresh/frozen black tiger shrimp (HS code 03) by 5% and 12%, respectively, and imported live/fresh/frozen marine shrimp. cold (HS code 03) increased the most by 41%.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
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