In the first four months of this year, especially since March 2021, the value of shrimp exports to the US market increased sharply by 47-48% over the same period in 2020. Being one of the leading shrimp import markets in the world. The US always attracts a large number of export enterprises. In the first quarter of 2021, there were over 60 Vietnamese shrimp enterprises exporting to the US, in which, 10 large companies accounted for 75% of the total shrimp export turnover of the country. The leader is Soc Trang Seafood Joint Stock Company (STAPIMEX). There are also some other large enterprises such as: Ut Xi, Thong Thuan, Minh Phu Hau Giang.
By the end of April 2021, Vietnam exported to the US many steamed and processed PUD white shrimp products, accounting for nearly 47% shrimp export with an average export price of 10.11 USD/kg. The second largest export product is tempura breaded shrimp, accounting for 16.5%, the average export price is 10.56 USD/kg; Frozen white shrimp (HS code 03061721) accounted for 15%, the average export price was $9.67/kg.
So far, US consumers still prefer processed and value-added shrimp products. In 2020, despite the Covid-19 pandemic, US shrimp imports still increased by 7% over the previous year. According to experts, the US shrimp import trend in the coming years will grow well and stably. By 2027, the shrimp import volume of this country may exceed 1 million tons.
Currently, the deployment of vaccination for the American people is happening rapidly, the production and business activities of this country's enterprises are recovering and stabilizing, it is forecasted that the demand for importing seafood from the US in 2021 will increase. strong. Therefore, this is also a good opportunity that Vietnamese shrimp exporters are taking advantage of to increase exports to the US this year when shrimp production and export of some countries, including India, are facing many difficulties due to Covid.
(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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