The European Commission (EC) has made positive assessment of Vietnam’s fight against illegal, unreported and unregulated (IUU) fishing following two inspections in the past over three years since EC imposed a “yellow card” on Vietnam’s export of aquatic products to Europe.
Vietnam has continued to intensify its supervision of fishing activities towards having the yellow card removed. In the first nine months of last year, the Ministry of Agriculture and Rural Development (MARD) assigned the task of updating and using the Vnfishbase software to 28 coastal cities and provinces, said the Directorate of Fisheries. The Directorate of Fisheries also established a team to conduct surprise inspections of the management of fishing vessels and fishing activities as well as the update of data on the software in several localities. It was found that there had been cases when fishing vessels were cut off from the monitoring system. Localities attributed the problem to connection cut due to delays in paying satellite fees, technical errors and unknown causes. Director of the Ca Mau provincial Department of Information and Communications Tran Quoc Chinh said the number of local fishing vessels committing illegal fishing in foreign waters has reduced year after year thanks to the intensified inspection and communication activities. Vice President of the Vietnam Association of Seafood Exporters and Producers Nguyen Thi Thu Sac said since the “yellow card” was imposed on Vietnam’s aquatic products, export to the European market has dropped by 30 percent. The Government has taken legal measures against vessels that violate the Law on Fisheries 2017, with some even facing a fine of up to 2 billion VND (86,000 USD). Sac said the EU is a very important market for Vietnam, and stressed that businesses and fishermen must join hands with the Government to have the yellow card removed./.
(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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