In the first 7 months of this year, Vietnam's shrimp exports to Russia reached over $27 million, up 87% over the same period last year. In the first 7 months of the year, exports only decreased slightly by 9% in April, the rest of the months had high growth, of which May, May and June grew by 3 digits. From August onwards, due to social distancing to prevent the Covid epidemic, Vietnam's shrimp exports to Russia decreased. In the first half of September 2021, shrimp exports to Russia decreased by 40% over the same period. Accumulated to September 15, 2021, Vietnam's shrimp exports to Russia reached 32.5 million USD, up 51% over the same period last year.
According to data of the World Trade Center (ITC), in the first 7 months of this year, Russia imported shrimp from 25 sources. In which, Vietnam is still the third largest shrimp supplier to Russia, after India and Ecuador. In addition, some other large shrimp suppliers are also focusing on exporting shrimp to the Russian market such as China, Bangladesh, Indonesia, Argentina, Thailand...
Russia's shrimp imports increased continuously from 2016 to 2020 from $214.7 million in 2016 to $320.7 million in 2020. In the five years from 2016-2020, Russia increased shrimp imports from the main suppliers Ecuador, India. India, Vietnam, Argentina while gradually reducing imports from China, Bangladesh, Indonesia, Thailand.
According to ITC, Russia's shrimp imports in the first 7 months of this year reached over 276 million USD, up 82% over the same period. Vietnam ranks third in supplying shrimp to Russia, accounting for 10% of the market share. Russia's shrimp imports from these three sources all grew positively, imports from Ecuador and India increased by 42% and 88% respectively while imports from Vietnam increased by 106%.
Vietnam's shrimp exports to Russia increased from 15.7 million USD in 2017 to 41.1 million USD in 2020, up 162%. As of the first half of September this year, Vietnam's shrimp exports to Russia have reached 32.5 million USD. This shows that Vietnam's shrimp exports to Russia are on a very good growth trend, along with advantages from the Vietnam - Eurasian Economic Union (EAEU) Free Trade Agreement.
(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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