In 2014, the import volume of frozen pangasius into Saudi Arabia was larger and higher than the frozen tilapia. According to ITC, the country imported 800-1,725 MT of pangasius from Vietnam each month, most of which were frozen fish fillets (HS code 030462). In addition, the country also imported frozen chilled fish (HS code 030432) with the average volume of 50 - 200 MT/month.
According to ITC, in 2012, Saudi Arabia bought only about 192 MT of frozen pangasius (HS code 030324) with the value of US$365 thousand. After 5 years, the import volume of this item from Vietnam into Saudi Arabia has increased by 57 times and the import value has gone up 49 times to eye nearly 11 thousand MT and US$17.7 million, respectively.
In 2016, imports of pangasius into the market accounted for the largest share in total whitefish imports, followed by tilapia meat (HS code 030493); frozen tilapia (HS code 030323), fresh/chilled tilapia (HS code 030271). In addition, this market also imported some other whitefish products such as fresh/chilled hake (HS code 030254), frozen cod (HS code 030363) and Alaskan pollock meat (HS code 030494).
In 2016, Vietnam held as the largest whitefish supplier to Saudi Arabia, accounting for 43% of total imports into the country, followed by Myanmar, Egypt, Taiwan, Bangladesh and Thailand. In 2016, the import price of pangasius into Saudi Arabia ranged from US$1.45 to US$1.5 per kg, down over 2015.
In QI/2017, Vietnam’s pangasius shipments to the country posted the good signs and Vietnam enterprises tended to shift their exports America, Asia, including Saudi Arabia while there were difficulties exports to large markets such as the U.S, EU.
In the coming time, Vietnam’s pangasius exports to Saudi Arabia forecasted to increase by 5-10% over the same period last year, with the export price of US$1.5 to US$1.75 per kilogram.
(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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