The association and 20 representatives from other groups submitted a letter to Antonio Berenguer, head of Trade Economic Affairs at the EU office in
To aid in the recovery of the Thai shrimp industry, they are dire need of stability in the EU market. While the Thai-EU FTA is under negotiation, Thai processed shrimp is scheduled to graduate from the GSP next January 1, when the import duty rises from 7 per cent to 12 per cent.
Thai processed shrimp and its GSP breaks are most vital to the survival of the country's shrimp industry. Not only will the extension of GSP support farmers and their families, it will also benefit EU retailers, food makers and consumers.
With
The other associations include the Thai Marine Shrimp Farmer Association, Thai Eastern Shrimp Association and shrimp farmer clubs from Surat Thani, Chantaburi, Pattani, Krabi and Trang.
After the meeting with Berenguer, Somsak quoted him as saying that in his opinion the free trade talks between
Tsunami
In 2004, EU restored the GSP for Thai shrimp to help farmers earn money after their farms were wiped out by the great tsunami.
However, the adverse consequences of the loss of tax perks to the livelihoods of Thai shrimp farmers and those in the whole chain involving 1.5 million people and their families are immeasurable.
"This is a shrimp tsunami if not worse than the real one."
The shortfall will disrupt businesses in the retail trade. Food makers and EU consumers, who have enjoyed for years the security of supply of this high nutritional seafood, will feel the pinch.
(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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