Whiteleg shrimp and black tiger shrimp exports recorded double-digit growth, while the export value of other types of shrimp increased by three digits. Fresh or frozen shrimp products grew stronger than processed shrimp products.
Among the main import markets, Vietnamese shrimp exports to China and Hong Kong recorded the strongest growth of 275%, reaching 42 million USD in January 2024. Thanks to strong growth, China and Hong Kong were Vietnam's largest shrimp import markets in January 2024, accounting for 17.5%. Shrimp exports from Ecuador (the main competitor of Vietnamese shrimp in the Chinese market) this year are not expected to go smoothly due to insecurity in the shrimp industry and the general difficulties of the global shrimp industry. Along with the great demand from China and the country's import priority policy, this can be considered an opportunity for Vietnamese shrimp exports to China in 2024.
In January 2024, shrimp exports to the US continued the growth momentum from the last months of 2023, increasing by 77% to reach 41 million USD. Shrimp exports to the US in 2024 are somewhat affected by the US anti-subsidy investigation into shrimp from four countries, including Vietnam.
In the US market, Vietnam accounts for 10% of the market share, ranking 4th after India (36%), Ecuador (22%), and Indonesia (18%). In 2023, peeled raw shrimp were imported the most into the US, recording slight growth; breaded shrimp and steamed shrimp recorded a decrease.
Shrimp exports to Japan and Korea in the first month of this year grew by 30% and 21%, reaching 37 million USD and 23 million USD, respectively.
After continuously declining in 2023, shrimp exports to the EU increased 22%, reaching 30 million USD in the first month of this year.
After the growth numbers in the first month of the year, looking at the general picture of the market and the shrimp industry in 2024, most businesses see many challenges and difficulties that slow down the ability to recover production and export.
Some shrimp businesses said that orders at the beginning of the year have not shown signs of improvement because the market's purchasing power is still weak. There are still problems, such as high inventory, low purchasing prices, difficulty competing with Indian and Ecuadorian shrimp, etc.
Some businesses see more positive signs in terms of orders but are worried about raw material sources because of the off-season and epidemics, so shrimp output is low.
Concerns about the risk of anti-subsidy tariffs are also a barrier for US importers and Vietnamese export companies. The selling price of Vietnamese shrimp is still quite high compared to other countries, causing fear among importers.
Vietnamese shrimp continue to face competition with Ecuador and India products in terms of price and supply; the oversupply situation and price reduction cycle may continue until at least the first half of 2024.
With Tet (Lunar New Year) approaching, fishermen along Vietnam's central coast are capitalizing on favourable weather conditions to intensify their fishing efforts, meeting the burgeoning demand for seafood across the nation.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn