In the first month of this year, exports have increased by 64% over the same period in 2023. After a continuous decline from the fourth quarter of 2022, exports from the fourth quarter of 2023 tended to be more positive and had a strong breakthrough in January, when the demand for goods for the Lunar New Year in many markets increased, especially in China and Asian countries. Part of it also caters to Vietnamese and Asian consumers in other markets.
After the Lunar New Year, normally demand levels off a bit, so exports to China do not increase as strongly as in January. However, Lent season has started, so the demand for seafood has returned in Western countries and many markets.
By the end of February, shrimp and tuna exports both increased by 37% over the same period, while pangasius exports increased by 15% and other fish increased by 8%. Particularly, cephalopod exports decreased slightly by 1%.
Shrimp exports have positive signals in many markets, such as China, the US, Japan, Canada, and Australia. In particular, in the Chinese market, demand is recovering well, while competitive exporter Ecuador is being warned about sulfite on shrimp, and the problem of increased freight due to the Red Sea tension also causes Ecuadorian shrimp imports to China to decline.
Ecuador, however, is more focused on the US and EU markets, so competitive pressure is greater in these markets.
Pangasius export prices to the US and EU both bottomed out in the last months of 2023 but recovered slightly in January, but export prices to China were still significantly lower than in previous years.
Inventory problems and oversupply are still affecting the consumption and import of main aquatic species such as shrimp, pangasius, etc.
Seafood exports are still in a difficult period because the IUU yellow card problem causes the procedures of catch certification and catch statement of seafood caught for export to the EU to be stalled. While lacking domestic raw materials, enterprises also face difficulties with imported materials because of IUU-related regulations.
In March and April 4, seafood enterprises will participate in the International Seafood Fairs in Boston, USA, and Barcelona, Spain, so expecting more positive results for their orders after these events.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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