<p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt; ">Frozen pre-cooked loins are one of Galicia's most important tuna import products, now that most tuna is no longer cleaned in Spain but in low cost countries.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">Therefore, the Spanish National Association of Manufacturers of Canned Fish and Seafood (ANFACO) is demanding the European Union's Fishery and Trade Commissions to allow the import of up to 30,000 M/T of frozen pre-cooked tuna loins at a zero duty tariffs from third countries, which have no trade agreement with the EU, during the period 2013-2015.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">In this case, these third countries are Thailand, Philippines, China and Vietnam.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">The quantity demanded is double the current amount, with a tariff of 6%, according to ANFACO's secretary general, Juan Manuel Vieites, who indicated that Spain's share represents 67.5% of the EU's production and that the demand to increase imports from third countries was also adopted in view of rising claims of other European countries.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">As an example, Vieitas said that in the case of Italy, with a production of only 18% of the EU total, is requesting to import 25,000 M/T with zero tariff, and in the case of Portugal, with not more than 2% production, is demanding 20,000 M/T duty-free.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">With the agreement reached by ANFACO last Friday, after beating the Spanish fleet's opposition, the canning sector aims at having a continuous supply of frozen pre-cooked tuna loins throughout the year, “under suitable price and quality conditions, so that we can maintain the activity and employment at the canning plants here. That's what we stand for”, Vieites stated.</span></p> <p style="line-height: 15pt; margin: 6pt 0cm 0pt"><span style="font-family: Arial; font-size: 10pt">This demand for loins from third countries' tuna, mostly situated in Asia, represents less than half of Spain's total imports of frozen pre-cooked tuna loins, which amounted to 63,000 M/T between January and October 2011, representing a 10.24% increase compared to the same period in 2010.</span></p>
(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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