China and Hong Kong remain the largest consumers of Vietnam's pangasius exports. In October 2024, this market imported $61 million worth of pangasius, up 9% year-on-year. However, the total export value to China and Hong Kong in the first 10 months fell by 2% year-on-year to only $479 million.
Exports to the U.S. surged in the first month of the final quarter, with a 65% increase compared to the same period last year, amounting to over $35 million. Over the first ten months, total exports to the U.S. reached over $291 million, a 28% increase year-on-year. The re-election of President Donald Trump, who will begin his second term next year, is expected to introduce new import tax policies, potentially impacting pangasius imports. Guided by his "America First" agenda, “Make America Great Again” movement and focus on economic growth, Trump's policies could influence Vietnam's export sector, including pangasius. However, projections remain optimistic, with expectations of increased orders as the two nations maintain a comprehensive strategic partnership, complemented by specific tax incentives.
A preliminary conclusion from the 20th administrative review (POR20) revealed favorable results for Vietnamese exporters. Two mandatory respondents received anti-dumping tax rates of $0.00/kg, while six additional companies qualified for separate tax rates of $0.00/kg. This marks a significant improvement from the prior POR19 review, where tax rates ranged from $0.00/kg to $0.18/kg.
The CPTPP bloc remains Vietnam’s third-largest market for pangasius exports. Over the first ten months of 2024, exports to CPTPP member countries totaled over $224 million, reflecting an 11% increase year-on-year.
Meanwhile, exports to the European Union remained steady, growing slightly by 0.04% year-on-year to nearly $144 million. Certain EU countries, including Lithuania, Ireland, Italy, Belgium, Spain, Poland, and Portugal, reported double-digit growth in imports of Vietnamese pangasius.
Vietnam’s pangasius exports are poised to surpass the $2 billion mark in 2024. Year-end demand is expected to rise to meet demand for the Lunar New Year and New Year holidays. Additionally, concerns over potential tax adjustments in the U.S. are driving importers to expedite their purchases before President Trump’s inauguration.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
(seafood.vasep.com.vn) On December 11, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) was once again honored in the "Top 50 Most Effective Businesses in Vietnam" ranking, compiled annually by the Investment Bridge Magazine. This marks the 11th consecutive year Vinh Hoan has been recognized in this prestigious list.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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