Through June 2012, tuna exports reached US$286 million, in which raw tuna (HS 03 code) exports gained US$188 million, up 33.6 percent (accounting for 70 percent of total tuna export); processed tuna (HS 16 code) shipment touched US$98 million, up 49 percent year-on-year. In June 2012 alone, raw tuna exports marked triple digit growth of 165.2 percent while processed tuna exports, mostly canned tuna, only rose by 22.5 percent year-on-year.
Italy is the second largest market in tuna import value from Vietnam in EU with over US$13 million, up 123.7 percent year-on-year. Although tuna import value in June is lower than that of May, Italy is one of markets reporting the sharpest growth in tuna import from Vietnam (374.8 percent). The market reporting the highest growth rate in tuna consumption among EU importers in Jan-Jun 2012.
In two recent years, Vietnam tuna exports to Italy tended to rise in value. For the year to date, tuna exports to Italy got double or triple digit growth in consecutive months, only except for March, export value fell by 43.5 percent over that of the same period of 2011.
Italy imported mainly frozen raw tuna from Vietnam accounting for 97.5 percent of total tuna exports to the market and touching US$12.7 million, up 118 percent year-on-year. Canned tuna exports made up a small proportion of 2.5 percent with US$326.4 thousand.
Consumption of fresh fish in Italy reduced by 6 percent while consumption of frozen fish rose by 5 percent because the price of frozen fish is lower than that of fresh fish sold in the country. Therefore, the price is one of the main factors affecting to Italian consumers’ choice.
Canned tuna plays an important role in Italian fish processing industry, however, the industry is getting worse. Domestic large Italian processors are switching to invest into foreign countries where the supply of raw fish is plentiful and labor cost is lower. Because of hiking production cost and dwindling tuna catch, Italy must import a large amount of canned tuna from other countries to meet the domestic demand. Italy carried out labelling on seafood products to distinguish domestic products from imported products in order to promote and raise the value of domestic products.
Italy also applies policies on preserving and restoring dwindling tuna stock under European Common Fisheries Policy. So strengthening to import fish is still an effective solution to balance fish supply-demand in the domestic market.
The price of exported fish to Italia is lower than that of some other markets, the market is considered as an important importer of Vietnam tuna. Exports of tuna to Italy are expected to grow positively in the last months of 2012.
(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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