However, tuna sector is still coping with many big concerns. In the first two months of 2013, Vietnam seafood exports reached US$778.5 million, representing a year-on-year decline of 0.6 percent. However, tuna exports saw an impressive growth of 33 percent with a revenue of US$98.5 million in Jan-Feb 2013.
According to VASEP, strong growth in tuna exports were attributable to increasing global demand exceeding the supply. In 2012 and the first months of 2013, tuna catch volume saw a strong reduction in many fishing grounds in the world.
In the early 2013, National Marine Fisheries Service (NMFS) has proposed to set up fishing quota for bluefin tuna in Eastern Tropical Pacific Ocean (ETP). Accordingly, in 2013, tuna fishing will stop after the quota of 10,000 MT was met. Many major fishing grounds in the world are temporarily closed or their fish stocks reported a sharp decrease.
Tuna consumption is witnessing a recovery. In the late 2012, EU – one of large consumers of tuna in the world – decided to increase an annual 22,000 MT duty-free tuna quota (from 15,000 MT) for the period 2013 – 2016.
Strong growth in tuna exports were mainly due to good tuna landings this year. The Government and fishermen strengthened investing into fishing vessels which led to a sharp increase in catch volume, Nguyen Thi Thu Sac, Chairwoman of VASEP Marine Product Committee said.
Tuna landings in 2013 are expected to reach a record level of 17,000-18,000
Despite high catch, tuna quality is not good as before. Before, fishermen use longline for tuna catching (catch tuna from the depth of 70 - 100 meters): Low productivity but high quality. Now they shifted to catch tuna using pole and line: High productivity but lower quality.
To ensure a sustainable development for tuna sector, it is important to find out the best method of fishing and preserving to keep tuna’s good quality before processing, Nguyen Thu Sac continued.
(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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