China - Hong Kong
In the first 11 months of 2017, Vietnam’s pangasius exports to China - Hong Kong reached US$373.3 million, up 37.9% over the same period in 2016, accounting for nearly 23% of Vietnam’s total pangasius exports to markets. This market kept being the largest buyer of Vietnamese enterprises this year despite the slow growth in the last 3 months.
In fact, China is both a huge seafood exporter but also a big buyer in the world. Moreover, Chinese customers buy a wide range of products with many segments in the market. With the advantage of having the same border, Vietnam can transport seafood products both on land and by sea in short time to China, which is advantageous for export activities of enterprises.
The U.S
Vietnam’s pangasius exports to the U.S in 2017 declined for many months due to technical barriers to trade, thus the market dropped from the first rank. Through November 2017, the export value to the U.S market reached US$319.7 million, down 9.7% over the same period last year.
In recent years, the anti-dumping duties on administrative reviews are high. Currently, the duty in the preliminary result of the 13th administrative review was three times higher than the results of the 12th administrative review and even equal to the national tax rate, causing the number of exporters to enter this market is decreasing. There are 62 companies registering to export pangasius to the U.S market, but in fact there are less than 10 enterprises exporting to the market and 3 enterprises has the considerable export volume.
Brazil, Mexico, Saudi Arabia
In the first 11 months of 2017, Vietnam’s pangasius exports has not fallen too sharply thanks to a flexible shift and boosting exports to some potential markets such as Brazil, Mexico and Saudi Arabia. During this period, the export value to the 3 markets reached US$93.8 million; US$93.2 million and US$50.2 million, an increase of 69.2%; 21.9% and 7.1% respectively over the same period in 2016.
In November 2017, the export value to these three markets increased sharply from 10.6% to 78.5% over the same period of 2016.
(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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