The right economic policies have been helping Colombia in developing its economy sustainably, while many other countries are struggling with global economic crisis impacts.
Currently, Colombia’s per-capita fish consumption is 6 kilogram/year. Colombian consumers are becoming more interested in seafood products from Vietnam, particularly pangasius, creating huge opportunities for Vietnamese exporters to enter this market. According to Vietnam Customs, through 15th May, 2013, pangasius exports to Colombia reached US$18.4 million.
Over the recent years, Colombia’s fish aquaculture has remained with annual growth of 6.7 percent but the production was still at a low level to cover the demand. Colombia Ministry of Agriculture and Rural Development said that fish harvest represented 84 percent of national fish farming; the remainder was shrimp.
In 2011, Colombia produced 61,500 MT of fish species, including 48,000 MT of tilapia (78 percent), 3,000 MT of freshwater farmed salmon… Huila, Valle del Cauca, Tolima and Meta were centers of tilapia farming. Freshwater farmed salmon were mainly breeded in Antioquia, Cauca, Boyaca, Cundinamarca and Narino. Currently, Colombia’s main export item is frozen fish (HS0303) with a total export volume of 41,069 MT and a value of US$79.09 million in 2012.
In 2012, the country imported US$156.758 million of fish products (HS03), up 29.1 percent on that of 2011. In which, Vietnam was the largest supplier with US$47.523 million of import value, accounting for 30 percent. Vietnam is also the leading exporter of frozen fish fillets to Colombia with 16,545 MT and a value of US$37.988 million in 2012.
In 2012 Colombia purchased mostly frozen fish products (HS0303), imports value totaled USS$66.259 million, up 46.4 percent over the previous year. Frozen fillets (HS0304) ranked second with US$65.066 million, up 18.55 percent from 2011; of which frozen pangasius fillets were 8,461 MT.
So far, international investors are turning their attention to Colombia rather than to Brazil, Mexico and Chile like they did in the past years. With a young population and a rapid and high growth, Colombia is becoming a “new economic tiger” of Latin America with an expected steady growth in the coming years. Therefore, there is a great opportunity, for Vietnamese seafood products and for pangasius, to develop in this market in the future.
|
Top 10 fish suppliers to Colombia, US$ mil. Source: ITC |
||||||
|
No. |
Origin |
2008 |
2009 |
2010 |
2011 |
2012 |
|
1 |
Vietnam |
6.918 |
10.703 |
22.493 |
40.328 |
47.523 |
|
2 |
Chile |
12.881 |
15.163 |
15.406 |
19.525 |
20.860 |
|
3 |
Ecuador |
12.965 |
13.880 |
13.604 |
14.528 |
19.104 |
|
4 |
Senegal |
0 |
0 |
0 |
1.345 |
11.321 |
|
5 |
South Africa |
0 |
0 |
0 |
3.348 |
10.285 |
|
6 |
China |
2.931 |
1.975 |
4.942 |
7.190 |
10.267 |
|
7 |
Argentina |
8.728 |
8.995 |
10.363 |
9.416 |
8.401 |
|
8 |
Uruguay |
1.915 |
1.976 |
1.442 |
3.157 |
4.628 |
|
9 |
Trinidad & Tobago |
3.482 |
13.272 |
11.590 |
9.361 |
3.301 |
|
10 |
Namibia |
0 |
0.778 |
0.471 |
0.885 |
2.899 |
(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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