As of March 15, 2023, Vietnam pangasius exports nationwide reached nearly 330 million USD, down 35% compared to the same period in 2022. In which, Vietnam's pangasius exports to Singapore reached 7 million USD, up 40% over the same period last year (only 5 million USD). Singapore is in the top 11 single markets importing Vietnamese pangasius. The proportion of pangasius imports of the "Lion island" increased from 1% to 2% over the same period last year.
In the first half of March 2023, pangasius exports to Singapore reached nearly 2 million USD, an increase of 77% compared to the same period in 2023. Singapore is the second country after Thailand in ASEAN that imports the most pangasius from Vietnam. While Vietnam's pangasius exports to most of the ASEAN markets decreased, the increase in Singapore's imports is considered a compensation for this market.
By March 15, 2023, frozen pangasius fillets exported to Singapore accounted for 11%, reaching more than 700 thousand USD, up 23% over the same period last year. Particularly in the first half of March 2023, the export of this product reached 265 thousand USD, up 360%.
Although Singapore’s population is not much, this country has large seaports and convenient trade. Many countries choose Singapore's ports to transship goods.
Southeast Asia, especially Singapore, is considered a bright spot for growth and has benefited greatly from the reopening of China. GDP growth in the ASEAN region is forecast at 5.2% in 2023, significantly higher than many other economies amid a gloomy global economic outlook.
Thanks to the lifting of travel restrictions, the outlook for Singapore's aviation and tourism sectors is relatively positive. This will spur a recovery in services that are still operating below pre-pandemic levels. A strong recovery in air travel and international arrivals is expected to benefit industries that drive consumers to food services. At the same time, this also opens up new opportunities for Vietnam's pangasius exports to Singapore because of the characteristics of delicious white fish with reasonable prices in the context of tight spending due to inflation.
Top 10 largest pangasius exporters to Singapore |
|
No |
Enterprises |
1 |
Van Duc Tien Giang Food Processing and Exporting Co., Ltd |
2 |
An My Seafood Import Export JSC |
3 |
Vinh Hoan JSC |
4 |
Nam Viet JSC |
5 |
QVD Dong Thap Food JSC |
6 |
Truong Giang Seafood JSC |
7 |
I.D.I Multinational Investment and Development JSC |
8 |
Gia Nguyen Import-Export Co., Ltd |
9 |
Dai Thanh Co., Ltd |
10 |
Vietnam Fishes . Co., Ltd |
Thu Hang
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(seafood.vasep.com.vn) Vietnam's shrimp exports reached $375 million in July 2024, a 17% increase from July 2023. Shrimp exports in July recorded the highest value since the beginning of the year and this is also the month when Vietnam's shrimp exports saw the best growth rate since February this year. In the first 7 months of this year, the shrimp export turnover reached over $2 billion, up 8% compared to the same period last year.
The rice-shrimp cultivation area of Thoi Binh district in the Mekong Delta province of Ca Mau has received Best Aquaculture Practices' (BAP) certification of the Global Aquaculture Alliance (GAA).
(seafood.vasep.com.vn) In the past 7 months, the weather situation did not fluctuate much, contributing to ensuring favorable conditions for fishing and aquaculture activities in Da Nang. The total output of fisheries and aquaculture in the past 7 months increased compared to the same period last year.
(seafood.vasep.com.vn) With Japan currently a key market, the business results of Sao Ta Food Joint Stock Company (stock code FMC) in the second half of this year are expected to benefit from the Yen's appreciation again.
(seafood.vasep.com.vn) As of the end of July 2024, Can Tho City's total fishery output was estimated at 137,963 tons, a 11.32% increase compared to the same period last year. Of this, aquaculture production reached 134,669 tons, a 11.27% increase, mainly attributed to pangasius.
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