Vietnam is to have 280,000 ha of marine aquaculture area and 10.5 million cubic metres of farming cages by 2025, according to the Ministry of Agriculture and Rural Development (MARD). Annual marine aquaculture output and export turnover are expected to reach 850,000 tonnes and between 800 million and 1 billion USD, the ministry said. The MARD has taken a series of measures to promote sustainable marine aquaculture in coastal areas nationwide, towards turning the sector into a key part of the country’s maritime economy by 2045. Deputy Minister of Agriculture and Rural Development Phung Duc Tien said agencies have coordinated with coastal localities to review and build a plan for aquaculture development in Vietnam to 2030 with a vision to 2045. The plan will focus on improving the output, quality, and economic efficiency of marine aquaculture, protecting the environment and adapting to climate change, restructuring production activities, and building value chains for each group of products, with industrial marine aquaculture to play a key role. Incentive policies will be available to offshore industrial aquaculture enterprises, to encourage them to invest. Attention will be paid to creating business communities in offshore aquaculture in major coastal cities and provinces, including Quang Ninh, Hai Phong, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan, Binh Thuan, Ba Ria - Vung Tau, Ca Mau, and Kien Giang, as well as others with substantial potential. Marine aquaculture and aquatic processing centres, logistics services, and fisheries infrastructure will be developed in north-central and central coastal localities from Thanh Hoa to Binh Thuan. Priority will be given to developing models of multi-species farming and in supporting establishments shifting away from traditional models to industrial models. The application of high technologies, international cooperation in technology transfer, and investment attraction in the field will be also promoted, while relevant research projects will be supported. Vietnam aims to have an advanced marine farming industry with sustainable development and systematic management by 2045. The country is set to raise annual output and export value to 3 million tonnes and over 10 billion USD.
(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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