1. The Gross Domestic Product of agriculture, forestry and fisheries expanded by 3.76 percent, the highest in the past seven years, despite disadvantaged weather conditions and unfavourable fluctuations in the market.
2. Export revenue from agricultural, forestry and fishery products surpassed 40 billion USD, up 9.6 percent from 2017 (the target assigned by the Government was 36-37 billion USD). This is the highest ever export value of the sector.
3.The National Assembly passed the Law on Cultivation and Law on Animal Husbandry. So far seven laws in the field of agriculture and rural development have been promulgated, which are Law on Cultivation (2018), Law on Animal Husbandry (2018), Law on Irrigation (2017), Law on Forestry (2017), Law on Fishery (2017), Law on Animal Health (2015), Law on Plant Protection and Quarantine (2013).
4. A total of 2,200 new firms were established in agriculture, up 12.3 percent from 2013, bringing the total number of firms operating in the field to 9,235, the largest number ever. The number of production chains reached 1,096, up 350 from 2017.
5. Half of business conditions (175 out of 345) in the field were cut or simplified, while the number of farm products subject to specialised inspection coded HS was reduced to 1,768 from the previous 7,698 (over 77 percent). Thirteen administrative procedures are now connected to the National Single Window portal.
6. A total of 3,787 communes (42.4 percent of the total number) and 61 districts were recognised as meeting new-style rural area criteria. Average income of rural household reached 130 million VND, up 1.71 times from 2017 and 3.5 times from 2008.
7. The exploitation of wood in natural forest was ended, wood output from planted forests and scattered trees nationwide reached 27.5 million cubic metres, while forest coverage reached the highest rate since 1975 at 41.65 percent.
8. Vietnam signed the Voluntary Partnership Agreement (VPA) on Forest Law Enforcement, Governance and Trade (FLEGT) and engaged in negotiations on harmonisation of regulations for the early removal of the EU’s yellow card on Illegal, Unreported and Unregulated (IUU) fishing.
9. Vietnam successfully produced vaccine for foot-and-mouth disease in cattle.
10. Damage caused by natural disasters was kept at low level, with fatalities dropping by 43 percent and material losses equal to only 33 percent compared to 2017 figures.
VNA
(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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