As expected, the Chinese market is gradually "brighter", the demand for pangasius is increasing gradually as the Chinese economy reopens. After opening, although Vietnam's pangasius exports to this market have not improved significantly, there is also a more positive trend.
In the first 3 months of this year, China attracted nearly 100 Vietnamese enterprises to participate in exporting pangasius. In which, the leading company is Nam Viet Joint Stock Company, accounting for over 10% of sales, followed by Cat Tuong Company Limited, IDI Company, Dai Thanh Company Limited and Truong Giang Seafood Joint Stock Company.
While much of the world is facing inflation, China is facing the opposite problem of “Deflation”. If I had to describe China's current economic situation, it would be 'deflation has begun' and the economy could have entered a recession zone." Consumers and businesses may stop spending, as they expect prices to fall further. However, with the advantages of being a nutritious, reasonably priced, white-fleshed fish, pangasius will still be a suitable choice for Chinese consumers in the period of 2023 with many economic difficulties.
China is no longer an easy market as before, not all products are accepted by this market. On the other hand, the export products of "this second largest economy in the world" are very similar to those of Vietnam, which creates both advantages and challenges for Vietnamese goods. Therefore, enterprises need to correctly and timely identify and assess opportunities and challenges in the current Chinese market to be able to exploit and promote advantages in economic and trade cooperation.
Thu Hang
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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