Exports in past 2 months decreased as the southern localities had to impose social distancing measures to fight Covid - 19 pandemic.
In the first half of September, most of the southern localities still applied social distancing under the Prime Minister’s Directive 16, many processing factories suspended operations, leading to a decrease of 31 percent in the nation’s total seafood export turnover. In the second half of the month, several localities began loosening social distancing, which helped restore some production activities.
Seafood export turnover in September 2021 reached over 628 million USD, down 23 percent over the same period in 2020. In the month, seafood exports to the US recovered with a slight increase of 3 percent year-on-year to 159 million USD, while those to other markets continued to decline, with China seeing the biggest drop (nearly 50 percent), and Japan, Canada, the UK and Australia also experiencing decreases of between 35 and 45 percent. In first 9 months of 2021, Vietnam seafood exports hit 6.2 billion USD, up 3 percent year-on-year. Of which, shrimp exports reached 2.76 billion USD, up 2.6 percent, the exports of pangasius and tuna rose by 3.2 percent and 9 percent to 1 billion USD and 520 million USD, respectively. Vietnam seafood exports by the end of 2021 is expected to to be equal to that of 2020, or 8.4 billion USD.
(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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