Spain is the biggest importer of pangasius among European countries. According to statistics from Vietnam Customs, Vietnamese pangasius export to this destination valued at US$21.5 million in the first quarter of 2013, down of 11.7 percent over the same period of the last year. The drop was not significant compared to the decreasing level recorded in Spain’s imports of other white meat fish species.
Spanish consumers are eating less frozen fish to turn to other sources of protein. In 2012, they bought more meat (including fresh and processed meat products) than the previous year due to its lower price.
In 2012, fish consumption fell down of 12 percent against that of 2011 as prices climbed up, pushing people to cut their expenses. The National Federation of Provincial Associations of Fish and Congealed Products Retail (Fedepesca) reported that, in 2012, Spanish fish consumption decreased of 1.2 percent in volume and 1.6 percent in value compared to 2011.
With a coast of over 8,000 kilometers, Spain has a developed fishing industry, but it still depends on imports, as wild fish catch does not satisfy domestic demand. Imported fish products make up 50 percent of Spain’s yearly consumption. Pangasius was one of the key imported items, because of reasonable price, during the tough economic time.
According to Mercabarna Food Wholesale Center, in April 2013, frozen pangasius fillets priced averagely at EUR2.4 per kilogram, higher than that of two previous months. Some importers predicted that the fish price will be maintained on these values in May.
It will be hard for Vietnamese companies to boost exports of pangasius to Spain in 2013 because the country continues to sink deeper into economic recession. The Central Bank of Spain predicted that the economy will shrink of 1.5 percent this year after reporting a 1.4 percent drop in 2012.
Currently, Spain has low demand for buying pangasius for domestic inventory but some importers says that they still need to purchase pangasius from Vietnam to supply Spanish households who still consider the fish as an important part in their daily foodstuff thanks to its affordable price. Imports are hoped to recover in 2014 when the country should go out of economic downturn.
(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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