While these characteristics have undoubtedly contributed to tilapia earning the No. 4 spot on the National Fisheries Institute’s (NFI) top 10 list of the most consumed seafood species in the United States, across the pond the same fish has had nowhere near the same measure of success. The figures don’t lie — the EU imported 20,700 metric tons (MT) of tilapia products in 2011, while U.S. imports topped 192,000 MT and the gap is forecast to be much wider when the 2012 statistics are published.
There are two weighty reasons why tilapia hasn’t triumphed in Europe thus far. Firstly, it’s significantly more expensive than pangasius; and secondly, a lot of the tilapia that has found its way into the market in the last 10 years has been of poor quality, which has tarnished the fish’s reputation.
Most of the product was from China and 90 percent of that fish is horrible. It looks horrible and it tastes horrible. That has done a lot of damage,” says Rudi Lamprecht, founder of tilapia producer Regal Springs, which operates farms in Central and South America.
“Also, the European market is about price, price and price. Pangasius has been extremely successful due to its price. And the nice pangasius is paper-white and very attractive looking.”
Swiss entrepreneur Lamprecht started Regal Springs in 1988 and today the group produces around 100,000 MT of live-weight equivalent tilapia per year. It exports about 1,200 MT of frozen and 750 MT of fresh tilapia to the United States each month, but ships just 250 MT to Europe.
Of the northern European countries, which are the most receptive markets, resistance to tilapia is at its strongest in the United Kingdom, which imported less than 675 MT of fresh and frozen tilapia products in 2011. Exporters can at least point to an increasing export trend as the market imported just 532 MT in the previous 12 months.
This time it’s the huge increases in next year’s total allowable catches of cod by Iceland and Norway/Russia, which have been set at 196,000 MT and 1 million MT, respectively. Cod prices are expected to tumble next year as a result, making the traditional U.K. favorite even more attractively positioned.
“It could be a problem. The average British consumer knows about cod, haddock and salmon. No one has really heard of tilapia,” says Richard Clarke, farm manager, The Fish Co.
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn