In the structure of Vietnam's seafood export in the past three years to the South Korean market, shrimp is the product with the highest export value, with an average of 15-40 million USD/month. Currently, South Korea is the third largest white shrimp export market of Vietnam (after the US and Japan).
In the first three months of this year, South Korea continued to order white shrimp from Vietnam with outstanding products such as HLSO whiteleg shrimp, fresh and frozen Nobashi white shrimp, fresh and frozen sushi, butterfly whiteleg shrimp, frozen PD white shrimp. In addition, this market also imports fresh and frozen PTO black tiger shrimp from Vietnam.
Originally a large traditional export market of Vietnamese shrimp exporting enterprises, in 2020, shrimp exports to this market was affected by the Covid-19 epidemic, the average shrimp export price to South Korea also decreased slightly.
In the first 3 months of 2021, there were nearly 30 shrimp processing enterprises participating in exporting shrimp to the South South Korean market, of which, Ca Mau Seafood Processing and Service Joint Stock Company (CASES) was the enterprise with the largest export value to this market, followed by businesses such as: MINH PHU HAU GIANG (Hau Giang); Minh Hai Seafood Joint Stock Company (SEA MINH HAI - Bac Lieu); Ngoc Trinh Bac Lieu Seafood Company Limited and Hai Viet Corporation (HAVICO - Ba Ria - Vung Tau).
According to the latest statistics of ITC, in the first two months of this year, South Korea also imported shrimp from more than 100 markets, of which Vietnam is still the leading shrimp supplier of South Korea. In addition, a number of other major shrimp suppliers are also focusing on exporting shrimp to the South South Korean market such as Thailand, Ecuador, Argentina, China, Malaysia ...
In 2020, South Korean seafood importers will also face many difficulties due to the Covid epidemic. So far, due to neglect and subjectivity with epidemics, the 4th wave of infections has returned to the country in March-April 2021. Currently, the authorities have increased surveillance in highly infectious places such as restaurants, cafes, steam facilities and childcare centers. Health officials could tighten regulations in crowded places and business activities if this trend continues. Therefore, in the upcoming time, business activities of South Korean seafood enterprises may not avoid the impact, and sales are likely to decrease.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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