Mr. Tran Van Phuc, deputy director of the Department of Agriculture and Rural Development of Binh Dinh, said the average price for 1kg of tuna in Japan was 1,240 yen (over $10).
Phuc said the tuna fish were carefully selected by Japanese experts before they were brought to Japan for the auction.
Photo: The Japanese experts examine and evaluate the quality of tuna caught by Vietnamese fishermen.
Japanese fisheries experts said that the quality of tuna fish caught by Vietnamese fishermen is quite similar to the same products available in the Japanese market. If the fishing and maintenance process is adjusted, the quality would be much better and the price higher.
Binh Dinh currently has more than 9,600 fishing ships, including more than 1,200 tuna-catching boats. In January 2016, 730 ships went out to sea and caught over 1,000 tons of tuna, and 7% over the same period last year.
In the past few days, hundreds of local fishermen have returned to the mainland with big catches, ranging from 1.4 to 1.8 tons of tuna fish each boat, earning profit of VND100 to VND150 million ($5,000-$7,000)/boat.
Earlier, Binh Dinh authorities helped 25 fishing boats install tuna catching equipment of Japan. The province has combined with Japanese Kato group to train and hand over tuna fishing technology to local experts and 120 fishermen.
Binh Dinh fishermen sell their tunas that meet export standards to the Binh Dinh Seafood Joint Stock Company for VND170,000 ($) per kilo.
Since 2014, Binh Dinh has built link chains to purchase and export high-quality tuna to Japan. However, as the chains did not operate smoothly, the quality of the product failed to meet the market’s demands.
In related news, a Japanese firm - Hokugan Ltd Company - intends to build a plant to process ocean tuna and other aquatic products in the Dong Tac fishing port, Tuy Hoa city of the central coastal province of Phu Yen in the near future.
Vietnamese tuna products are exported to 100 countries and territories, including the US, Japan, Israel and Canada, as well as the EU and the ASEAN region.
Tuna exports have been the third biggest earner in Vietnam's seafood industry with a value of US$400 million in 2014, behind only tra fish and shrimp.
(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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