In 2013, Vietnam totaled 3,500 off-shore fishing boats for ocean tuna (accounting for 14 percent of nationwide distant fishing boats) with over 35,000 fishermen. Apart from traditional longline fishing, line fishing with lights is also popular and provides huge supply of raw fish. In 2013, catches of yellowfin and bigeye tuna reached 16,000 MT. Exports valued at US$526 million. The U.S., the EU and Japan are the main markets for Vietnam ocean tuna products.
Tuna is the third export item of Vietnam after shrimp and pangasius. However, this fish industry is facing some problems: individual fishing activities among local fishermen, backward logistic services, limited bank credits for this sector, lack of close links among stakeholders in the production chain, especially the post harvest steps.
These weaknesses cause low quality of tuna products. Due to post harvest losses, there are only 5 – 6 percent of line-caught tuna and 30 – 40 percent of longline-caught tuna meeting quality requirements to be processed as sashimi products to export by airway.
Moreover, tuna producers just focus on fish yield and profits they earn rather than pay attention to markets' demand to provide more value-added products.
Improving quality
To keep stable developing of the sector, fish quality is required to improve. Fishermen need to create more fishing groups and efficient methods of purchasing, transportation and logistic services at sea in order to reduce time waste in the post harvest step.
According to a representative from the Japanese company Yanmar, raw fish quality is the fundamental factor to raise the price of product. Fish with good quality will have higher price and meet requirements of Japanese importers and others. Therefore, tuna producers should pay attention to immediate freezing step on board and at landing ports and better preservation storage using hygienic ice to ensure the fish quality.
(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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