In the first half of 2021, Vietnam's seafood production and export continued to be affected by the Covid-19 epidemic, which was still tense in many countries around the world and had a strong outbreak in the country. Covid caused a disruption in the logistics supply chain for global trade, whereby seafood exports from the beginning of the year until now have been burdened with sea freight charges that have increased continuously and increased many times along with a serious shortage of containers for export. In addition, input costs for production and processing also skyrocketed, affecting the profits of enterprises.
However, in the midst of difficulties, seafood enterprises have made efforts and flexibility to stabilize production, maintain supply, and take advantage of opportunities of markets that are recovering strongly in demand such as the US and EU, as well as promote exports to markets with favorable import tax incentives under agreements such as CPTPP, EVFTA, UKV FTA, RCEP..., and promptly provide diversified products for different market segments.
Therefore, by the end of June 2021, the country's seafood export still reached 4.1 billion USD, up nearly 15% over the same period last year. Exports of all key commodities grew over the same period last year, of which the largest contribution was shrimp exports with $1.7 billion, pangasius at $781 million, and fishing products also accounted for a high proportion. with 1.67 billion USD.
The prospect will be very positive for Vietnam's seafood exports in 2021 if the 4th Covid wave does not break out as strongly as now, especially in key areas of seafood production, processing and export such as Ho Chi Minh City and the Mekong Delta region are being severely affected, production is stalled because of the requirements of social distancing and epidemic prevention.
Faced with this situation, how will Vietnam's seafood exports turn out in the second half of the year, will there be a breakthrough again at the end of 2021? There will be different scenarios when the Covid situation is unpredictable.
To have a better and more detailed understanding of Vietnam's seafood export results in the first 6 months of the year and comment on the import markets, production and export developments in the second half of 2021, we would like to cordially invite Readers register the Report on Vietnam's Seafood Exports in the second quarter of 2021.
(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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