In the first quarter of 2020, the export of Vietnamese pangasius to ASEAN decreased slightly, then from the second quarter, the export value to this market contracted even more strongly due to the COVID-19 pandemic.
At the beginning of this year, Thailand was the largest pangasius exporter in the block, accounting for 41% of the total export value to the whole block. In the second quarter of 2020, the export value to Thailand dropped sharply, the country only accounted for 13 % of the total value of pangasius exports to ASEAN. Singapore rose to become the largest pangasius importer of the region in the three months of the second quarter, accounting for 44.8% of the total value of Vietnamese pangasius exports to ASEAN in this quarter.
In Q2/2020, while most of export value to ASEAN and EU markets decreased, export value to Singapore elevated by 38.5% to nearly US$13 million. As of mid-July 2020, the total value of pangasius exports to the Singapore market reached nearly US$21 million, up 3.3% over the same period in 2019.
There were nearly 50 pangasius enterprises exporting to ASEAN in the second quarter of 2020, of which nearly 40 companies export pangasius to Singapore. Huong Phuc Thinh, IDI CORP, and TG CORP were the three companies with the largest value of pangasius export to Singapore during this period.
During this time, Vietnam exported outstanding pangasius products such as frozen pangasius fillets, dried pangasius bubbles; frozen cube pangasius fillet; frozen cut pangasius fillet, tempura pangasius fillet… to Singapore market.
(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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