In 2013, Thailand was the 2nd largest pangasius importer in ASIAN. With high growth rates for several consecutive months, by the end of July, Thailand became the top pangasius importer among ASEAN nations.
Data of International Trade Centre (ITC) showed that in the first 7 months of this year, Thailand imported 10,070 MT of frozen fillets of pangasius and catfish, most of which (99.8%) was from Vietnam. Vietnam exported 10,047 MT of pangasius to this market. In Thailand this was the most imported product among white meat fish types.
In the first 7 months of this year, Thailand exported 96,275 MT of frozen catfish fillets, up from 1,455 MT year on year to 5 countries including Kuwait, Cambodia, Laos, Singapore and UAE.
Political turmoil in the first 5 months of 2014 probably lowered economic growth but Vietnam pangasius exports to Thailand enjoyed high growth rates. The rise in prices of pangasius exported to Thailand is claimed by businesses. Thailand imported Vietnam pangasius for domestic consumption. Thailand is the largest tilapia producer but this product is mainly used for export. Tilapia exports from Thailand maintained strong growth, especially exports to America.
According to the Thai Frozen Foods Association (TFFA), from January to April 2014, 679 MT of tilapia (code HS0304) was exported by the country. This valued US$ 4.12 million, up 98.73% in volume and 96.19% in value compared with the same period in 2013. The United States accounted for 81.48% of the total Thai tilapia exports. Thailand, as a big tilapia producer, did not have to import much tilapia. Among white meat fish frozen fillet products (code HS0304) imported into Thailand, tilapia was ranked the 2 after Vietnam pangasius.
Thailand is considered as a gateway to penetrate into ASEAN economies. With high demand, this will support to pangasius export to this market.
(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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