Vietnam’s shrimp export value was estimated at 3.8 billion USD in 2017, up 22 percent from 2016.
The EU was the top importer of Vietnamese shrimp, totaling more than 780 million USD worth of the country’s shrimp products in the first eleven months of 2017, 22.2 percent of Vietnam’s total shrimp export revenue in the period and an annual increase of 42.4 percent. The Netherlands’ imports grew 70.5 percent, the strongest growth among the three major EU markets for Vietnamese shrimp products, followed by the UK (54.5 percent) and Germany (5.9 percent).
VASEP General Secretary Truong Dinh Hoe attributed the outcomes to preferential treatments offered by the EU to some Vietnamese shrimp products under the Generalised System of Preferences (GSP). Thailand and China do not have this advantage, he said.
Vietnam’s biggest competition in the bloc are India and Ecuador, he noted, adding that Indian shrimp exports to the EU might fall and face a ban due to antibiotics problems. Vietnamese products could be a potential replacement, he said.
According to Hoe, to capitalise on the EU’s preferential import tariff, Vietnamese exporters have chosen domestic materials and invested more in intensive processing for better value added.
Exporters said Vietnamese shrimp’s big win in the EU last year came from consumers’ preference for convenient seafood products and higher demand during the year-end holiday season. Sources of cold-water shrimps saw higher prices and dwindling supply, increasing the bloc’s demand for Vietnamese imports.
The VASEP said the EU-Vietnam Free Trade Agreement, expected to take effect this year, will boost Vietnamese shrimp shipments to the bloc thanks to tariff elimination for a number of products, which are currently taxed at 20 percent.
Earnings of Vietnamese shrimps exported to China grew 60.2 percent to reach 637.9 million USD between January and November 2017.
China has witnessed a reduction of domestic shrimp sources due to poor weather and diseases, while demand is rising thanks to the expansion of the middle-income group and tourist arrivals. From December 1, 2017, the country’s tariff on frozen shrimp imports fell to 2 percent from 5 percent.
China is forecast to surpass Japan to become the second biggest importer of Vietnamese shrimps in the first quarter of 2018.
VNA
(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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