According to the ministry’s Agro Processing and Market Development Authority, they grew at nearly 15 per cent year-on-year to US$502 million in the first four months.
Overall exports were US$2.5 billion, an increase of 2.4 per cent.
Export growth slowed down in the case of many markets.
But in the case of CPTPP members, exports to Mexico increased by 35.6 per cent, to Malaysia by nearly 22 per cent and to Canada by nearly 14 per cent.
Japan, another member, remained the top importer of Vietnamese seafood.
Exports of tra fish and shrimp to Japan were worth $8.58 million and $121.7 million in the first three months, a year-on-year increase of 60.37 per cent and 1.4 per cent, respectively.
The CPTPP’s reduction or elimination of many tariff lines on seafood has helped boost their exports to member countries, according to seafood firms.
Canada is the sixth biggest market for Vietnamese shrimp, accounting for almost 5 per cent of exports.
According to the Vietnam Association of Seafood Exporters and Producers, the CPTPP will give shrimp exporters an advantage in the Canadian market over rivals like India, Thailand and Indonesia, who are not members of the treaty.
To capitalise on the opportunities brought by the trade deal, many seafood firms have expanded their facilities, purchased modern machinery and equipment and set up raw material-production areas to enable production that meets market requirements.
Tran Van Linh, chairman of the Thuan Phuoc Seafoods and Trading Corporation in Da Nang, said his company planned to invest in processing plants to expand production and exports to CPTPP markets, especially Japan and South Korea, which have high demand for fisheries products.
Source: VNS
(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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