In the second quarter of 2012, Vietnam bought a total of US$173.4 million of raw fish from outside. In January – June 2012, it imported raw fish from 69 countries and territories with the total value of US$331 million, including US$13 million from returned fish cargo.
The most important supplier of Vietnam was Taiwan, mostly marine fish species. In which skipjack tuna accounted for the largest proportion.
Indonesia and Thailand were also main tuna suppliers of Vietnam. In addition, Vietnam processors purchased a great volume of shrimp from these countries as they failed to find enough fish in domestic market and the price was much higher than that of imported shrimp.
For the period, versue exports, the proportion of imported seafood into Vietnam for outsourcing and re-export was nearly 11 percent. So products derived from imported fish occupy a part in the national export earnings. Being similar to other local producing countries like Thailand, Vietnam government needs to review and amend its policies on import tax, quality inspection of exported seafood to the EU and bank guarantee for tax payment grace…in order to help seafood companies get more raw material for processing and re-export, bringing higher revenue and keeping jobs for workers.
In Q.II/2012, imported fish still remained under the pressure of high quarantine fees for consignment regulated in Circular No.4/2012/TT-BTC by Vietnam Ministry of Finances. Importers must be charged of the quarantine fee which is 300 percent higher than those set in the Circular 199/2010/TT-BTC of 13th December 2010. The fee calculation will be based on consignment weight.
In addition, ocean freight was two times higher than last year, leading to huge cost for imported fish. While Vietnamese seafood processors were grappling with serious lack of capital for operating, Vietnam Customs (under Ministry of Finances) suggested that companies needed bank guarantee to get import tax payment grace period of 275 days. Many of them worried that the complex procedures may lead to waste of time and money.
In 2012 and the coming years, Vietnam seafood companies are predicted to struggle with persistent difficulties concerning lack of capital and rise of 10 – 35 percent in all input (electricity, water, worker salary, raw material supply, testing fees, fuel, packaging…), so that import of seafood material for further processing to export is expected to rise.
|
Vietnam import of fish, Jan – Jun 2012 |
|||||
|
No. |
Origin |
Value (US$) |
No. |
Origin |
Value (US$) |
|
1 |
Taiwan |
34,844,390 |
12 |
Canada |
9,020,162 |
|
2 |
Indonesia |
29,545,130 |
13 |
Ecuador |
8,287,990 |
|
3 |
The U.S. |
25,205,436 |
14 |
Denmark |
7,684,646 |
|
4 |
Norway |
22,358,624 |
15 |
China |
7,184,402 |
|
5 |
Japan |
21,026,424 |
16 |
Spain |
5,195,361 |
|
6 |
South Korea |
20,875,321 |
17 |
Tuvalu |
4,724,041 |
|
7 |
Thailand |
19,457,384 |
18 |
New Zealand |
4,665,734 |
|
8 |
Poland |
15,824,140 |
19 |
Myanmar |
4,317,854 |
|
9 |
India |
13,053,798 |
20 |
The U.K |
3,895,645 |
|
10 |
Russia |
10,553,422 |
|
Others |
54,105,118 |
|
11 |
Chile |
9,111,025 |
|
Total |
330,936,047 |
(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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