China and Hong Kong remain the largest markets for Vietnamese pangasius exports. In October 2024, exports to this region reached $61 million, up 9% compared to the same period last year. However, total exports to China and Hong Kong for the first ten months of 2024 declined by 2%, totaling $479 million.
In the first month of the final quarter, pangasius exports to the United States surged by 65% year-on-year, reaching over $35 million. The total export value to the U.S. for the first ten months of 2024 exceeded $291 million, marking a 28% increase. With Donald Trump securing a second term and set to officially take office early next year, new tax policies on imported goods, including pangasius, are anticipated. Guided by slogans such as "America First" and "Make America Great Again," and focusing on economic growth, Trump's administration is expected to influence trade with Vietnam, including the pangasius sector. Nevertheless, the outlook remains positive, with order volumes expected to increase as Vietnam and the U.S. continue their comprehensive strategic partnership, along with potential tax policy adjustments.
Earlier, the preliminary results of the 20th Administrative Review (POR 20) revealed favorable outcomes for Vietnamese pangasius exporters. Two mandatory respondents received anti-dumping duty rates of $0.00/kg, while six additional companies were granted separate duty rates of $0.00/kg. These results are more favorable than the previous POR 19 review, where 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 countries, bolstered by the agreement, reached over $224 million, an 11% year-on-year increase.
Exports to the EU remained nearly unchanged from the same period last year. In the first ten months of 2024, exports to this region increased slightly by 0.04%, totaling nearly $144 million. Several EU markets recorded double-digit growth in imports of Vietnamese pangasius, including Lithuania, Ireland, Italy, Belgium, Spain, Poland, and Portugal.
Vietnam's pangasius exports are expected to surpass the $2 billion mark in 2024. Year-end orders are projected to rise in anticipation of holiday and festive celebrations. Additionally, concerns over potential tax adjustments and increases have prompted some importers to accelerate their orders 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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