After the double-digit growth in the first half of 2016, the shrimp export growth to China in the second half of 2016 tended to slow down. In Jan-Mar 2017, Vietnam’s shrimp sales to China decreased by 3.9% to eye US$93.3 million. However, exports in QII/2017 climbed up 57.6% to reach US$189.6 million. Thanks to the high growth in Apr-Jun 2017, the figure in the first half of 2017 estimated at US$282.9 million; up 30% year on year.
In 2016, shrimp imports into China reached US$777.3 million, up 3% from 2015. Of that, among the main shrimp suppliers to China, imports from Argentina showed the highest increase of 224.3%, followed by Vietnam with over 176.7%; imports from Ecuador and India witnessted the falls of 48% and 27.6%, respectively.
Imports of frozen warmwater shrimp (HS code 030617) account for the highest proportion of total shrimp imports into China, followed by frozen coldwater shrimp (HS code 030616).
Thanks to the tariff preferences in the ASEAN-China Free Trade Agreement (ACFTA); Vietnam enjoys tax incentives when exporting seafood to China.
China imports shrimp not only for domestic consumption but also for processing and re-exporting to other countries. With a large population, high demand for seafood, especially high quality products in recent years, Vietnam’s seafood exports especially shrimp exports to this market expected to go on the rise. The demand for raw shrimp for processing and re-exporting is increasing due to a drop in the domestic shrimp production and the policy of boosting imports for re-exports of this country.
Due to a dip in domestic shrimp production, in the coming time, shrimp imports into China expected to continue the upward trend. Vietnam’s shrimp exports to China in 2017 projected to go on the rise as this remains to be the major importing market of many large shrimp exporters of Vietnam in 2017.
(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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