In a meeting in Guam last week, member countries of the Western and Central Pacific Fisheries Commission (WCPFC) lifted the fishing ban on pockets 1 and 2 of the Pacific Ocean.
The WCPFC is a 25-member organisation including Australia, the EU, Japan, Papua New Guinea, and the Philippines that oversees and regulates migratory fish stocks such as tuna and marlin in the Pacific. Its jurisdiction covers 20% of the planet's surface.
In January 2010, the WCPFC placed the ban on parts of the Pacific Ocean, where 60% of the world's tuna are sourced, to conserve the population of the bigeye tuna, which scientists classified as overfished. Other tuna species like skipjack, yellowfin, and albacore also found in the Pacific high seas but their numbers have not reached an alarming low. Although it lifted the ban, the commission maintained that entry to the marine reserves would be limited, refusing proposals from the European Community and South Korea for a free-for-all access to one of the world's richest fishing grounds.
"The Pacific Commons is now open. But for all practical purposes, access will be limited," said Mark Dia of Greenpeace. "They knew that everybody would suffer if a free-for-all access is granted," he added.
The WCPFC approved the request of the Philippine government, the third top tuna harvester in the Pacific after Japan and South Korea, to fish in pocket 1 of the Pacific, which is bounded by the island nations of Micronesia, Palau, Papua New Guinea, and Indonesia.
In exchange for fishing access, the Philippine government must report its catch and limit the number of fishing vessels to 36, Dia said. Filipino vessels must also apply for international fishing permits before entering pocket 1.
The Philippines' fisheries director Asis Perez said the ban brought hard times to the local fishing sector. He also noted that the fishing ban was counterproductive for the Philippines as it forced fishing companies to harvest in its national waters, which is considered to be a spawning ground for various types of tuna, he said.
(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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