By the end of March 2020, the export value to China - Hong Kong reached US$ 63.2 million, accounting for 18.9% of the total pangasius export value, down 36.4% over the same period in 2019. However, this is an optimistic export compared to the first days of the year - the time when the outbreak of Covid-19 broke out strongly. Particularly in March 2020, the export value of pangasius to this market reached US$ 34.7 million, up more than 109% compared to January 2020. China - Hong Kong returned to be the largest pangasius importer of Vietnamese enterprises in the first quarter of 2020. It is forecasted that in the second quarter of 2020, pangasius export to this market will recover strongly and increase from 30-40% compared to the same period in 2019.
If exports had not been affected by the disruption in trade transactions, pangasius export value to the US would have been much better than the continuous decrease in 2019. In March 2020 alone, the export value of pangasius to the US reached US$ 23 million, up 26.4% over the same period in 2019. By the end of March 2020, the total export value to this market reached US$61.7 million, accounting for 18.5%, down 13.2% compared to the same period in 2019. Although pangasius export value in the first 3 months of 2020 still fell compared to the same period in 2019, exports in the first months of the year showed a positive reaction from this market. Hopefully in the second quarter, Vietnam's pangasius export value to the US market will surpass a positive growth over the same period in 2019.
As forecasted, from February to March 2020, when Covid-19 disturb the transport, distribution, as well as business activities of EU countries, pangasius export to this market is increasingly affected. clear. By the end of March 2020, pangasius export to the EU reached nearly 36.5 million USD, down 36.5% compared to the same period in 2019. In particular, the export value to the 4 largest single markets in the block (the Netherlands, Germany, Belgium and Spain) all dropped. The reduction was respectively 31.4%; 30%; 45.3% and 31.4% compared to the same period in 2019. At least until the epidemic situation will be controlled and the export and import activities returned to normal, pangasius exports to this market can stabilize.
Pangasius exports to other major importers in the first 3 months of 2020 such as ASEAN, Brazil, Mexico, Colombia and Australia still dropped sharply. In particular, pangasius export value to ASEAN declined by 29%; exports to Brazil fell by19%, Mexico slumped by 57.8%, Colombia slashed 12% compared to the same period in 2019.
(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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