Thanks to taking advantage of opportunities and overcoming difficulties caused by the impact of the COVID-19 epidemic, Vietnam's seafood enterprises are receiving many export orders in many markets.
The US has become the main export market for Vietnamese seafood, with the demand to import many items such as shrimp, pangasius, tuna... From the beginning of the year to now, about 220 Vietnamese enterprises have exported seafood. products to the US, of which nearly one third of enterprises have export turnover of 1 million USD or more.
After the US, the major markets consuming Vietnamese seafood are Japan, EU, China, and Korea, respectively. In addition to trying not to disrupt the supply chain, the seafood industry also focuses on deep processing, taking the form of sales, keeping traditional markets and actively seeking new markets.
"We regularly discuss with customers to find out the needs of the market, from the Korean market, Japan, the EU ... to create suitable products to serve the needs during the epidemic period," he said. Truong Tien Dung, General Director of Saigon Seafood Trading Joint Stock Company, said.
According to the Vietnam Association of Seafood Exporters and Producers, the demand for seafood has started to increase in many markets, especially those with a free trade agreement with Vietnam.
"After this recovery, the demand for seafood from European countries will increase, due to the access of businesses, and importers are also interested in importing from Vietnam through the advantage of the EU. EVFTA", said Mr. Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers.
According to forecast, Vietnam seafood exports in the second quarter will continue to grow by 10%, reaching about 2.1 billion USD. Besides the main markets, other markets such as Australia, Canada, the UK and Russia are expected to be a new bright spot in the picture of seafood exports in the second quarter and second half of the year because demand is increasing and there are no barriers. market barrier.
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(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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