According to statistics of Vietnam Customs, Vietnam's tuna exports decreased continuously in the first 2 months of 2021. Japan continued to drop in the ranking of the largest tuna import markets of Vietnam. .
This year, the structure of Vietnam's tuna exports to Japan has also changed. If in the previous years, processed and canned tuna was the main export product group of Vietnam to this market, this year Japan tended to increase imports of fresh, frozen tuna - the increase is up to 91% over the same period in 2020. Meanwhile, the import of processed and canned tuna products decreased by 49%.
Currently, according to statistics of the World Trade Center (ITC), Japan is also reducing imports from other countries. Japan's import of tuna in the first 2 months of 2021 decreased by 15% in volume compared to 2020.
The Covid-19 epidemic continued to affect heavily on the Japanese tuna market. Since Japan removed its emergency at the end of May 2020, the Japanese tuna market is expected to bounce back. However, delaying major events and public vigilance about dining out have slowed market recovery.
By 2021, after a long period of confidently controlling the epidemic, Japan is currently facing the 4th Covid-19 epidemic wave. The number of Covid-19 cases in Japan is skyrocketing. There is a state of emergency in place in six major Japanese prefectures including Tokyo and Osaka. The government is proposing to tighten the anti-epidemic measures, and is expected to cancel the 2021 Tokyo Olympic Games. This will make the Japanese tuna market difficult to recover. Japan's imports of tuna are expected to remain low, due to reduced demand.
By the end of February 2021, there were 11 Vietnamese enterprises participating in tuna export to Japan.
(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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