Sales of fish to four European key markets (including Spain, the Netherlands, Germany, Italy) went down in June, though Italy still saw growth of 10.8 percent to US$3.4 million in the previous month.
Spain was the largest pangasius-consuming market in the EU. In June 2012, its imports of pangasius were down 32 percent to US$7.4 million. Due to the decline, fish import into the country only totaled US$48.4 million in the first two quarters of 2012, equal to 35 percent less than the same period of 2011. After positive rise in the first months of the year, fish trade with Spain began downing from May. Furthermore, Spanish economy is facing much more financial difficulties after its banks got credit rating downgrade in European bank rankings. Therefore, it must be so hard for Vietnam pangasius industry to boost fish export to this destination in the third quarter of 2012.
Similarly, the Netherlands - Vietnam’s second biggest pangasius importer in the EU - got down in import value by 35 percent to US$5.7 million in June. Year-to-date earnings from this market were around US$38.5 million, down 25 percent.
Germany reported the sharpest drop of 45 percent to US$27.6 million among four main fish-consuming countries.
Italy was the unique importer recording positive growth in May, but its pangasius imports immediately fell by 13.5 percent to US$3.5 million in June. This was because of tough economic trend in the EU as well as existing difficulties in Vietnam pangasius industry.
According to some importers in Europe, slowing sales has also occurred in many other seafood and food products. Fish consumption may rebound in the last months of the year, but just little growth, because the region is still dealing with financial challenges and fewer profits made by both importers and retailers.
(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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