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.

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.

(seafood.vasep.com.vn) According to market trends, starting in Q3, importers typically ramp up purchases to prepare for the holiday season and year-end festivities. U.S. consumer spending is expected to recover in the second half of 2024 compared to the same period last year, which could positively impact the value of Vietnam's seafood exports to this market.

(seafood.vasep.com.vn) In the third quarter, several Vietnamese seafood companies announced strong financial results, showcasing resilience and growth in a challenging market.

(seafood.vasep.com.vn) In the first nine months of 2024, aquaculture in Kien Giang province has shown potential growth, helping to offset the decline in capture fisheries.

(seafood.vasep.com.vn) As Vietnam’s southernmost province, Ca Mau boasts abundant natural resources, particularly in fisheries and renewable energy, attracting significant international investment. The presence of international businesses in Ca Mau plays a pivotal role in driving economic growth and sustainable development, not only for the province but also for the entire Mekong Delta region.

(seafood.vasep.com.vn) Vietnam's exports of frozen tuna meat/loin have continuously grown during the first eight months of 2024. Notably, in August 2024, the export value of frozen tuna meat/loins hit a year-to-date high, exceeding $51 million, up 19% compared to the same period.

(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (Sao Ta) reported that its finished shrimp production in September 2024 reached 2,309 tons; finished shrimp consumption reached 2,638 tons, an increase of 47% over the same period.

(seafood.vasep.com.vn) Vietnam’s fishery exports reached $7.16 billion in the first 9 months of this year, a year-on-year increase of 8.5%, the Vietnam Association of Seafood Exporters and Producers (VASEP) has reported.

Value-added pangasius products, including dried fish maws and fish skin snacks, are increasingly popular among international consumers, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

(seafood.vasep.com.vn) According to the Binh Dinh Statistics Office, the total aquatic product output in August 2024 is estimated at 28,738.6 tons, up 2.2% (up 614 tons) over the same period. In the first 8 months of 2024, the total aquatic product output is estimated at 201,433.1 tons, up 2.7% (up 5,366.8 tons).

(seafood.vasep.com.vn) Can Tho's seafood export output in the past 9 months is estimated at 118,000 tons with a turnover of over US$ 387 million. Many aquaculture areas of Can Tho have VietGAP standards to meet the requirements for export, increasing the value of aquaculture products in the area.

(seafood.vasep.com.vn) Tra Vinh’s estimated seafood production in August 2024 reached 27,416 tons, including 22,455 tons from aquaculture and 4,961 tons from fishing.

(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%.