The export market in the first half of this year has painted a decent picture for shrimp businesses, but generally still behind the country’s previous medium-term ambitions

Tuna exports are projected to reach 456.8 million USD in the first half of 2024, a year-on-year increase of 20%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

(seafood.vasep.com.vn) In May, Vinh Hoan Corp recorded positive growth in revenue in most key markets. Vinh Hoan Corp had just announced business results for May 2024, with net revenue reaching 1,131 billion VND, an increase of 19% over the same period last year.

The Binh Dinh Marine Essence Festival 2024, themed 'Binh Dinh - Sea Aspiration,' will take place from July 11th to 15th.

(seafood.vasep.com.vn) According to data from Vietnam Customs, in May 2024, Vietnam's pangasius export turnover reached 167 million USD, an increase of 5% compared to May 2023. Cumulative pangasius exports in the first 5 months of this year reached 747 million USD, up 2% over the same period last year.

(seafood.vasep.com.vn) According to the latest report of the Department of Agriculture and Rural Development of Ca Mau province, total fishery production in the first 6 months of 2024 is estimated to reach 326,170 tons, reaching 50.03% of the plan, up 1.56% over the same period last year. Of which, aquaculture output reached 205,300 tons, an increase of 0.64%, and exploitation output reached 120,870 tons, an increase of 3.16%.

(seafood.vasep.com.vn) Recently, the "Plan for Developing linked production and consumption of pangasius by 2025 with a vision to 2030" was released by the People's Committee of An Giang Province. By 2025, An Giang's pangasius sector is expected to account for 60% of the US, EU, China, and ASEAN markets; domestic consumption of pangasius goods will account for 10% of the market. The plan also seeks to create An Giang as a center for pangasius seed production in the Mekong Delta region.

(seafood.vasep.com.vn) At the 2024 VASEP General Assembly held on June 10, 2024, Mr. Đỗ Ngọc Tài, Vice Chairman of VASEP, Chairman of the VASEP Shrimp Committee, and General Director of TAIKA SEAFOOD CORPORATION, delivered a speech on market demand and Vietnam’s shrimp export targets for 2024.

Vietnam’s largest exporter of pangasius, Vinh Hoan Corporation, has invested in surimi production, including raw material blocks and crab sticks.

(seafood.vasep.com.vn) Vietnam's canned tuna exports continue to grow rapidly in the first months of 2024. In April 2024 alone, canned tuna exports to this market increased by 127%, reaching more than 10 million USD. Cumulatively, in the first 4 months of 2024, exports to this market reached more than 38 million USD, up 102% over the same period in 2023 and up 25% over the same period in 2022.

(seafood.vasep.com.vn) According to data from Vietnam Customs, in the first half of May 2024, Vietnam's pangasius exports to Colombia reached nearly USD 1.6 million, up 140% compared to the same period last year. As of May 15, 2024, cumulative pangasius exports to this market reached USD 16 million, up 34% compared to the same period in 2023.

As a pangasius exporter with the second largest closed production chain in the world, NAVICO (Nam Viet Corporation, stock code ANV) aims to increase net profit this year 8 times more than last year.

(seafood.vasep.com.vn) In addition to setting a record profit target for this year, Minh Phu Seafood Group (MPC) said it will consider expanding into a number of foreign markets and increasing its market share in the domestic market.

(seafood.vasep.com.vn) Vietnam's fish cake and surimi exports are still weak in Q2/2024. Fish cake and surimi exports decreased 11% in April compared to the same month the previous year, according to data from Vietnam Customs. Exports of this product totaled approximately $83 million in the first four months of this year, which is 12% less than the same time previous year.

(seafood.vasep.com.vn) Vietnamese shrimp exports to the EU market, after 2 months of deep decline, recovered to growth in April 2024. The EU was the main import market, recording the best growth in April this year.