In the first quarter, the export value of shrimp from Vietnam to the EU gained a year-on-year increase of 20.2 percent to 742.9 million USD, including 302.4 million USD in March, up 25.8 percent compared to March 2017.
Therefore, the EU maintained its position as the largest market for Vietnamese shrimp products, accounting for 18.2 percent of Vietnam’s total shrimp export value in the first quarter.
The EU was considered as the "most dynamic" market for Vietnamese shrimp in 2017. In 2018, the shrimp export to this market has maintained an upward trend.
Vietnam has gained by exporting shrimp to the EU, because India, Vietnam’s big competitor in the EU market, has faced difficulties in exporting shrimp to the EU market as a result of antibiotic residue testing. In addition, Vietnamese shrimp is more affordable than its competitors’ products and has the advantage of gaining the GSP (Generalised System of Preferences) from the EU that Thailand and China do not have.
The Ministry of Industry and Trade said in the time to come, Vietnam’s shrimp exports to the EU would see more advantages, once the European Union-Vietnam Free Trade Agreement, which is in the preparation phase, takes effect. As committed, after the agreement comes into effect, Vietnamese goods, including shrimp products, will enjoy special preferential tariffs.
Vietnam’s shrimp export in the second quarter is expected to continue to increase due to an adequate supply of raw materials for processing plants and a stable demand in the world market.
(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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