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Vietnam seafood market update mid-July 2024 

 Monday, July 22,2024

AsemconnectVietnam - According to preliminary statistics of the General Department of Customs, exports of seafood products in June 2024 increased by 1.5% compared to May 2024 and 9.4% compared to June 2023, reaching over 840.66 million USD.

 Overall, in the first 6 months of 2024, exports of this product group reached over 4.41 billion USD, an increase of 6.4% over the same period in 2023.
Seafood exports to the US market account for 17.7% of the country's total export turnover of this product group, reaching nearly 782.35 million USD, an increase of 10.9% compared to the first 6 months of 2023; Of which, June 2024 alone reached 160.1 million USD, an increase of 10.2% compared to May 2024 and an increase of 11.7% compared to June 2023.
Ranked second in turnover is the Japanese market, accounting for 16%, reaching nearly 704.16 million USD, down 1.2% over the same period. In June 2024 alone, exports to this market reached 124.25 million USD, down 3.9% compared to May 2024 and down 6% compared to June 2023.
Next, the Chinese market in June 2024 increased by 4.6% compared to May 2024 and increased 18.5% compared to June 2023, reaching 144.51 million USD. In total, for the first 6 months of 2024, exports to this market increased by 7.5% compared to the first 6 months of 2023, reaching 681.8 million USD, accounting for 15.5% of the total export turnover of this product group of the whole country.
Seafood exports to the RCEP market in the first 6 months of 2024 increased slightly by 0.1% compared to the first 6 months of 2023, reaching over 2.18 billion USD, accounting for 49.5% of the total turnover. Exports to the CPTTP market increased by 2.1%, reaching over 1.14 billion USD, accounting for 25.9%. Exports to the EU market accounted for 11% of total turnover, reaching nearly 483.9 million USD, an increase of 15.8%. Exports to the Southeast Asian market accounted for 6.1% of total turnover, reaching over 270.11 million USD, down 16.9%.
An Giang province expands aquaculture area
An Giang province has many advantages for developing freshwater aquaculture. According to the Department of Agriculture and Rural Development of An Giang, in the first six months of 2024, although seafood prices have decreased, the export situation has been promising, leading to an expansion in farming areas and an increase in harvested production compared to the same period.In recent years, seafood has been one of the two major agricultural sectors in An Giang. Besides the main farmed species, pangasius, An Giang also has a wide variety of indigenous species, such as red tilapia, spotted snakehead, basa fish, pangasius, silver barb, giant freshwater prawn, tilapia, knifefish, giant barb, eel, and flathead catfish... These aquatic species have a large consumption market in Cambodia.
Total aquaculture area in the province is currently around 3,100 hectares, with approximately 5,682 cages and rafts, involving over 2,600 households farming in ponds, 3,566 households farming in cages and rafts, and 1,400 households breeding various aquatic species. The annual harvest yield is over 600,000 tonnenes, and more than 6 billion seedlings of various aquatic species are produced and reared annually.
It is estimated that the total aquaculture production in the first six months of 2024 reached 357 thousand tonnenes, an increase of 5.42% (+18.4 thousand tonnenes) compared to the same period last year. This includes over 324.8 thousand tonnenes of harvested pangasius, a 6.33% increase (+19.4 thousand tonnenes), primarily due to increased production in enterprise farming areas with around 207 thousand tonnenes (accounting for 63.73% of the total pangasius production), up by 12 thousand tonnenes compared to the same period. The total harvest of other fish species was over 32.2 thousand tonnenes, a decrease of 3% (-1 thousand tonnenes) compared to the same period. The demand and selling prices remained consistently high, resulting in a harvest of about 165 tonnenes of other aquatic species, an increase of 9.56% (+14 tonnenes) compared to the same period.
Dong Thap province: Pangasius farming area increases by 6.9%
As of June 16, Dong Thap province's pangasius farming sector has witnessed remarkable growth, with a 6.9% increase in farming area compared to the same period last year. The total pangasius farming area has reached 1,957.06 hectares, with an estimated harvest output of 265,177 tonnenes.
Dong Thap province aims to enhance the quality, value of products, and sustainable production. The province strives for 70% of pangasius farming facilities to be digitized with identification codes as per regulations; 90% of commercial pangasius farming facilities to be certified for production conditions or to sign a commitment to safe food production according to regulations; 30% of the commercial pangasius farming area to apply and be certified for Good Agricultural Practices (GAP); and 70-80% of individual household farming areas to participate in production and consumption linkages.
Currently, Dong Thap province has 375 pangasius farming facilities with identification codes, covering an area of 1,626 hectares of farming. Of these, 83 facilities have been certified for food safety conditions, covering an area of 648.35 hectares; 38 facilities apply and are certified for VietGAP, GlobalGAP, ASC, and BAP standards, covering an area of 242 hectares.
Fimex brought in 95 million USD in sales in H1/2024
Sao Ta Food Joint Stock Company (Fimex) forecasts sales for the rest of the year to be quite stable thanks to good orders.
In the first half of 2024, Fimex's sales revenue reach 95 million USD, an increase of 17% over the same period, equivalent to 45% of the yearly plan (210 million USD).
In June alone, Fimex's sales were estimated at 13.46 million USD, down 28% over the same period. This is also the month with the company's lowest sales in 4 months.
In the first 6 months of the year, Fimex said processed shrimp reached 11,255 tonnes, up 20% over the same period. Consumption of processed shrimp reached 8,449 tonnes, an increase of 26%. Regarding agricultural products, the company produced 705 tonnes and consumed 626 tonnes of agricultural products, down 27% and 11% respectively compared to the first 6 months of 2023.
Clams bring about 200 billion VND per year to Ben Tre
In Ben Tre, the annual output of MSC-certified clams averages 7,500–8,000 tonnes, with an estimated value of about 200–250 billion VND, creating jobs for thousands of workers.
Since 2009, Ben Tre clams had been certified by the International Maritime Council for Sustainable Fisheries in accordance with MSC standards for the period 2010–2015 and then continued to be recognized and maintained for the second time in 2015–2020. Up to now, the clam management and exploitation profession continues to be recognized by the 3rd MSC standard for the period 2024–2029 (valid from May 23, 2025, until March 22, 2029).
The third recertification of the province's clam industry is also the result of the efforts of cooperatives, fishing communities in the three coastal districts, and relevant departments and units. This is an honor and pride for the clams of Ben Tre in particular and Vietnam in general in the international market. Clams are currently making a positive and important contribution to the province's export proportion of goods. In particular, clam meat is highly appreciated for its nutritional value, food safety, and hygiene. Currently, clams originating from Ben Tre are reputable and dominate many markets in Europe and Asia.
T.Huong
Source: Vitic/Vasep

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