In Brazil, the fish wholesale price was forecasted to surge due to the weak Real. This leads to change in seafood chosing of Brazilian consumers. They tend to using other products instead of chosing fish when its price is higher. Low pangasius demand would hamper pangasius import to Brazil.
In 2011, Brazil’s GDP was estimated to reach US$2,520 billion. Economic growth of the country in the third quarter of 2011 nearly stalled due to high interest rate and worsening debt crisis in the euro zone. However, Brazil is still a promising market for Vietnam pangasius exports in 2012.
According to Center for Economic and Business Research (CEBR), in 2011, Brazil outstripped the U.K to become the sixth powerful economy in the world. The former Brazilian president, Lula da Silva predicted that in the next 10-15 years, Brazil will become the third or the fourth largest economy.
According to many economists, Brazilian economy shows positive outlooks with many more middle and high class. Vietnam pangasius will have a bright future in the market.
Vietnam pangasius exports to Brazil in 2011 saw the great growth in which pangasius exports in January 2011 reported the highest of 1,045 percent, followed by August with 226 percent. Pangasius export value in November 2011 reached US$10.8 million. In value, Vietnam is ranked in top 5 suppliers of frozen pangasius fillet to Brazil, however the market share of Vietnam pangasius only accounted for 6% while the market share of China tilapia represented nearly half of total frozen fish fillet import into Brazil.
With huge population of 200 million people and Brazilian’s increasing average income, Brazil reveals a potential market to Vietnam pangasius in particular and Vietnam seafood in general.
According to Vietnam Customs, the export of value-added pangasius in the first eight months of 2024 has been evaluated as quite positive, with continuous growth in many major markets such as the United States, CPTPP, and the Netherlands...
(seafood.vasep.com.vn) The Department of Fisheries of Ca Mau province coordinated with the School of Fisheries under Can Tho University to organize training courses on high-tech shrimp farming for 120 people in processors, cooperatives and families that are raising intensive and super-intensive shrimp in the province.
(seafood.vasep.com.vn) Currently, Soc Trang province plans to expand its shrimp farming area from over 50,000 hectares to 57,000 hectares by 2025, aiming for a production of 233,800 tons and maintaining a $1 billion export value. The project will establish 45 climate-resilient shrimp farming models and ensure all farms meet aquaculture standards for traceability.
(seafood.vasep.com.vn) In July 2024, Vietnam's fish cake and surimi exports declined. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the cumulative export of this product group reached 152 million USD, down 13%.
(seafood.vasep.com.vn) Dong Thap is a key region for pangasius farming, boasting the largest production in the Mekong Delta. In the first seven months of 2024, the estimated aquaculture area reached 4,778 hectares, with a harvest yield of 307,336 tons. Of this, the intensive pangasius farming area covered 2,042 hectares, with a harvest of 252,670 tons.
(seafood.vasep.com.vn) According to Vietnam Customs, in the first half of August 2024, Vietnam's pangasius exports to the EU reached nearly 8 million USD, up 57% over the same period. Cumulative pangasius exports to this market as of August 15, 2024, reached 107 million USD, up 0.5% over the same period last year.
(seafood.vasep.com.vn) The Board of Directors of International Development & Investment Corporation (IDI) is confident of completing this year's profit plan in the context of gradually recovering demand for pangasius in China and Mexico.
(seafood.vasep.com.vn) Some farmers in Soc Trang province have successfully applied a balanced biological shrimp farming technique, which eliminates the use of chemicals to minimize environmental impacts. This is a model of farming that adapts to climate change.
8 finalists have been named in the best new seafood product competition to be awarded at Seafood Expo Asia, taking place 4 to 6 September at the Sands Expo and Convention Centre in Singapore.
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