After rapid increases from the beginning of the year, shrimp exports to the US started to decrease from August. Statistics show that in August, shrimp imports to the US from India and Indonesia rose more quickly that those from Vietnam. Statistics from US Department of Agriculture, in August 2014, shrimp imports from Indonesia and India grew by over 1.000 MT compared to July, while shrimp imports from Vietnam increased by 273 MT.
In September, shrimp exports from Vietnam to the US fell significantly as highest-ever antidumping tax rates applied on frozen shrimp Vietnam were announced. On 19th September 2014, US Department of Commerce (DOC) announced final results of period of review from 1st February 2012 to 31st January 2013 (POR8). Particularly, Minh Phu Seafood Corporation are subject to anti-dumping tariffs of 4.98%, Soc Trang Seafood Joint Stock Company (STAPIMEX) at 9.75% and 30 other respondents at 6.37%. VASEP is preparing to propose United States International Trade Commission (US ITC) against the method applied by DOC. However, in the short run, high anti-dumping tax rates will affect shrimp exports to the US in QIV/2014.
In the first 9 months of 2014, whiteleg shrimp exports from Vietnam to the US reached US$ 609.7 million, up 66% year on year while exports of black tiger shrimp was US$ 199.3 million, up 19,3%.
Get our up to date information and data on shrimp exports to the U.S and other markets in Report on Vietnam seafood exports in QIII/2014
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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