Exports of shrimp and tuna in September equaled last year's figures, while pangasius exports surged. With markets recovering, Vietnamese shrimp and fish are starting to accelerate towards the year-end "golden season."
On the morning of October 8th, speaking to a reporter from VietNamNet, Mr. Ngo Van De from Long Khanh commune (Duyen Hai district, Tra Vinh province ) said: "The price of shrimp has increased by about 20,000 VND/kg, and shrimp farmers in the cooperative have escaped losses."
According to him, shrimp prices have plummeted in recent months due to a sharp decline in exports and slow purchasing of raw shrimp by businesses. Farmers have suffered losses for many consecutive months because shrimp prices have hit rock bottom. However, recently, businesses have been buying up all the shrimp that farmers harvest.
With the export information business starting to recover, shrimp prices have also increased significantly, although not yet to the expected level. However, thanks to the price increase, farmers have moved from losses to slight profits, Mr. De shared. Currently, he and the members of the cooperative are preparing to plant the new crop to ensure a harvest before the Lunar New Year.
In September, pangasius exports increased by 9% compared to the same period last year (Photo: Pham Hoang Giam).
According to Mr. Ho Quoc Luc, Chairman of the Board of Directors of Sao Ta Food Joint Stock Company, the seafood industry will accelerate in the third quarter, and shrimp businesses are making thorough preparations to gain momentum towards the end of the year.
He believes that the increase in seafood sales is a positive sign, helping to offset the decline in the first half of the year; however, factors need to be considered for sustainable growth.
In the pangasius sector, Vinh Hoan Seafood Joint Stock Company reported that in the third quarter of this year, exports of this product improved compared to the second quarter, both in terms of volume and selling price.
Specifically, pangasius exports to the EU market increased by 22% compared to the same period in 2022; to China by 13%; and other markets also saw good revenue growth. In the US market, Vinh Hoan enjoys an anti-dumping duty rate of 0 USD/kg.
The two largest markets have recovered impressively.
According to the Ministry of Agriculture and Rural Development, in September, Vietnam's seafood exports reached $858 million, a decrease of only 0.8% compared to the same period last year. This is the lowest decrease in seafood exports since November 2022.
By the end of September 2023, seafood exports had generated $6.64 billion, a decrease of 21.7% compared to the same period in 2022.
According to the Vietnam Association of Seafood Processing and Export (VASEP), in September this year, several key products regained balance compared to the same period last year. In particular, shrimp and tuna exports both reached levels equivalent to September 2022. Notably, pangasius exports recovered strongly, increasing by 9% compared to the same period last year.
Exports of other products such as squid, octopus, crabs, and shellfish remained lower than the same period last year, but the decrease was only between 6-12%.
Recent export results show that the market is recovering compared to previous months. The two main markets, the US and China, are beginning to increase demand. Accordingly, Vietnam's seafood exports to these two markets have recorded positive growth in the past two months.
Seafood businesses are entering a phase of accelerated growth, anticipating year-end gold purchases (Photo: Hoang Ha).
Several key markets within the CPTPP bloc, such as Japan, Australia, and Canada, are also increasing their shrimp imports from Vietnam.
Regarding pangasius fish, VASEP observes a gradual recovery trend in markets such as China, Mexico, Brazil, the Netherlands, the UK, and the US... In September 2023, pangasius exports to some markets regained balance or reached higher levels compared to the same period in 2022.
By the end of September 2023, exports to the top three largest markets – the US, China, and Japan – had all exceeded $1 billion. In September alone, seafood exports to the US, China, and the EU increased by 4-17% compared to the same period in 2022; while exports to Japan remained 15% lower.
Speaking to the press, Deputy Minister of Agriculture and Rural Development Phung Duc Tien stated that the US and China remain two major export markets for Vietnamese seafood. In particular, pangasius (catfish) is a key product and a strength of Vietnam in both of these large markets.
Notably, after a long period of review, the US market has officially recognized Vietnam's pangasius production and processing standards as equivalent to those of the US, including many high-quality products.
Mr. Phung Duc Tien also emphasized that, along with this recognition, the recent elevation of Vietnam-US relations to a comprehensive strategic partnership will open up huge opportunities for pangasius exports.
According to him, pangasius exports to the US and China have recovered, and exports to many other markets have also increased significantly. Meanwhile, demand for this product typically surges during the year-end holiday season.
In addition, the 15 trillion VND credit package supporting the fisheries and forestry sectors has so far disbursed approximately 5.5 trillion VND. This is a driving force encouraging businesses in the fisheries sector to boost production for year-end exports.
Regarding pangasius fish, exports are expected to generate $2.3 billion this year. For the entire fisheries sector, Deputy Minister Tiến estimates and expects to reach $10 billion.
Vietnamnet.vn
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