In September, a number of key products regained balance compared to the same period last year. In particular, shrimp and tuna exports in September were equivalent to September 2022. Notably, the recovery of pangasius products with a positive growth rate of 9% compared to the same period last year. Exports of other products such as squid, octopus, crabs, and shellfish are still lower than the same period, but the decrease is only 6-12%.
By the end of September 2023, shrimp exports reached 2.55 billion USD, still 25% lower than the same period in 2022. However, export results in recent months have shown signs of recovery compared to previous months. The two main markets, the US and China, have begun to increase demand and exports to these two powers have both recorded positive growth in the past 2 months. Some main markets in the CPTPP bloc such as Japan, Australia, and Canada are also increasing shrimp imports from Vietnam.
Pangasius exports recorded revenue of nearly 1.4 billion USD by the end of September 2023, down 31% compared to the same period in 2022. Pangasius exports are tending to gradually recover in the markets of China, Mexico, and Brazil, Netherlands, UK and US... In September 2023, exports to some markets have regained balance or recorded growth compared to the same period in 2022.
Similar to shrimp, tuna exports also tend to improve, with sales in September equal to the same period in 2022. However, the continuous decline in the early part of the year caused the cumulative nine months of tuna exports to still decrease by 23%. reached 623 million USD.
By the end of September 2023, exports to the top 3 largest markets, the US, China and Japan, all exceeded the 1 billion USD mark. In particular, the US still holds the number 1 position with nearly 1.2 billion USD, 33% lower than the same period in 2022. The China - HK market has brought Vietnamese seafood 1.15 billion USD in first 3 quarters of the year, down 15%, while Japan imported seafood from Vietnam with a value of nearly 1.1 billion USD, down 14% over the same period last year.
In September alone, seafood exports to the US, China, and the EU all recovered, increasing from 4-17% over the same period in 2022. Exports to Japan were more or less mixed in September, so it was still 15% lower compared to September 2022.
The market is showing better signs, especially in the fourth quarter, so if there are no other changes, and raw material sources do not decline sharply, it is forecast that Vietnam's seafood exports in 2023 will bring in sales of about 9.2 – 9.3 billion USD.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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