Top 6 largest shrimp suppliers to the U.S included India (35% of total U.S shrimp imports), Indonesia (21%), Ecuador (12%), Vietnam (7.2%), Thailand (7%) and China (6.7%).
In the U.S, high inventory and a fall in the average import price affected shrimp imports into the U.S in July this year. After a 14-month increase, the U.S shrimp imports dropped in May, June and July this year. This trend was in contrast to the past years when these months were the time of U.S shrimp imports beginning to increase.
Vietnam is also one of the suppliers to reduce shrimp exports to the U.S in July this year. Recently, the U.S Department of Commerce (DOC) has announced the final results of anti-dumping duties on Vietnamese shrimp during the 12th administrative review period - POR12 (from 1st February 2016- 1st January 2017), the final tariff rate for Vietnamese shrimp exporters is 4.58%, which is lower than the preliminary tax of 25.39% announced by DOC on 8th March 2018. This result was also better than the final POR11 tariff.
In 2017, while Vietnam’s shrimp exports to markets increased sharply with export prices higher than in previous years, exports to the US market fell by 7% to touch US$659 million due to the influence of anti-dumping taxes. The U.S then lost its leading position to be the fourth largest buyer of Vietnamese shrimp. Export of shrimp to the US market in the first 8 months of 2018 decreased 5.5% to 393 million USD.
With the POR12 results lower than preliminary results and POR11 results, Vietnam’s shrimp exports to the U.S market in the coming months expected to recover to see about US$615 million for the full year, down slightly by 6.5% compared to 2017.
(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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