Regarding statistics from International Trade Center (ITC), Singapore imported US$84.6 million of frozen pangasius fillets in 2011, of which spending on Vietnamese fish was US$37.1 million.
So far this year, the country has ranked the first position among consuming markets of Vietnam pangasius in ASEAN. It imports averagely US$3 million of fish per month. Pangasius imported from Vietnam is more and more popular in Singapore’s restaurant and food service chains. Some major supermarkets like NTUC Fair Price and Cold Storage are also keeping pangasius products available on their food shelves to respond to consumers’ rising demand.
To the middle of August 2012, Vietnam pangasius industry earned US$22.1 million of fish sales to Singapore, slightly down 0.5 percent from the same time last year. Pangasius shipment generated US$3.6 million, up 34.4 percent in July; in contrast, June sales totaled only US$3.1 million, declining nearly 21 percent.
Pangasius trade with Singapore kept growth in the first half of 2011; but it has been showing signs of slow down from January to June 2012 and even reported two-digit drop in January, April and June 2012.
Imported products make up 95 percent in Singapore’s food consumption. The country is also purchasing food from suppliers such as China, Thailand, Malaysia, Indonesia and other countries. In which, food from ASEAN countries occupies high market shares in the island.
Thailand exporters got great business results in Singapore market because they always focus on good quality products and stimulating trademark promotion in order to keep their prices high.
In Singapore, Cold Storage is the first retailer which launched a range of MSC-labeled seafood products (including merluce fillets from South Africa) and other sustainable products listed in WWF seafood guide. The supermarket is finding more supplies of sustainable and good quality seafood products to develop sustainably and conserve marine fish stocks.
Singapore targets to boost fish production for domestic consumption from the current level of 7 percent to 15 percent in the next future. The country imported fish seeds from Taiwan or China to grow, as well as launched promotion campaign in purpose to help consumers distinguish between domestic and foreign fish.
(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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