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Seafood exporters in Vietnam may find the second half of 2022 a challenging period compared to the first due to slowing global economic growth, despite a successful first half of the year, according to a conference held by the Vietnam Association of Seafood Exporters and Producers. Exports of seafood in the first five months of the year rose by around 42%, but they are expected to slow down for the second half of 2022. (Photo: VNA) Since the start of 2022, seafood businesses have been focusing on recovering their production, increasing exports and networking with partners after the COVID-stricken year of 2021. Exports of seafood in the first five months of the year reached 4.7 billion USD, a 42% increase year-on-year. During the conference held in HCM City on June 22, Truong Dinh Hoe, general secretary of the association, said that export prices grew by up to 15%, and markets grew around the world. The association has been focusing on helping … [Read more...] about Seafood exporters face challenging second half of 2022: conference

Illustrative image (Photo: VNA) New Delhi (VNA) - Vietnam's coastal localities and India’s Kerala state have many opportunities to expand cooperation in seafood-related business, investment and production, a fishery official of Kerala said at a recent online conference – part of trade promotion activities on the occasion of the 50th anniversary of the establishment of the two countries’ diplomatic ties. The event was jointly held on June 22 by the Trade Office under the Vietnamese Embassy in India, the host country’s Marine Products Export Development Authority (MPEDA) and Kerala authorities. Vietnamese Ambassador to India Pham Sanh Chau expressed his belief that through the conference, both sides’ businesses can understand more about each other’s market, and find suitable partners. Van Duc Phu, deputy head of Investment Promotion Division under the Foreign Investment Agency’s Northern Investment Promotion Centre, stated that many Vietnamese localities such as Hung Yen, Nghe … [Read more...] about Efforts made to boost seafood cooperation between Vietnam, India

Processing Tra fish (Photo: VNA) HCM City (VNA) – Seafood shipments overseas have risen in the first half of 2022, and experts say Tra fish exports can increase the market share in the EU, while that of shrimp has a lot of room for growth in Canada. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of May, the value of frozen Tra fish exports to the EU this year reached 76.8 million USD, up 95% year-on-year. This means the market has bounced back after a two-year downturn due to the COVID-19 pandemic. The Netherlands remains the biggest market in the EU for the Vietnamese products, while positive signals are coming from the shipment of frozen Tra fish to Germany, Spain, and Belgium. In addition to the bloc, Vietnamese Tra fish exporters have also stepped up their activities in Mexico, Egypt and Thailand. As of mid-May, Vietnam exports shipped to Mexico are at 45.6 million USD, up 70% year-on-year. VASEP said the Mexican market … [Read more...] about Seafood export takes larger bite out of foreign markets

The U.S. bought nearly 1.1 billion worth of seafood in Jan-May, up 65 percent year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). It was the biggest buyer of Vietnamese shrimp and second biggest buyer (behind China) of pangasius fish. Shrimp exports to the U.S. rose 32 percent year-on-year to $390 million. Pangasius fish exports to the U.S. has surged 131 percent year-on-year on the back of a drop in home production and an increase in the number of Vietnamese exporters allowed to sell to the U.S., VASEP said. Exports of tuna to the U.S. doubled year-on-year to $251 million. Vietnam’s seafood exports to the U.S. is set to reach $2.4-2.5 billion this year, up 25 percent from last year, VASEP estimates. … [Read more...] about US biggest buyer of Vietnamese seafood

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood export revenues rose 46 percent and 36 percent year-on-year in Q1 and Q2, respectively. Export of shrimp, the top item in terms of revenue, grew 33 percent to $2.3 billion in the first six months. VASEP said inflation and the Russia-Ukraine war opened opportunities for shark catfish export. Whitefish, especially cod, has run out of stock in European markets due to Western sanctions on Russia -- which accounts for about 45 percent of the world's whitefish supply, largely pollack, cod and haddock, according to The Guardian . Vietnamese shark catfish, therefore, became an alternative. Export turnover to the U.K. and Spain surged by six and three times, respectively, and that from France, the Netherlands, Germany and Belgium also rose 45-90 percent. For the first half this year, shark catfish exports fetched $1.4 billion, up 83 percent. … [Read more...] about First half seafood export revenue up 40 pct

Indices advanced on Thursday morning, backed by recoveries in energy and seafood stocks after a strong sell-off in the previous session. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) struggled as it curbed the early loss to end higher in the morning trade. Of which, the benchmark rose 0.64 points, or 0.05 per cent, to 1,169.91 points. It gained despite the 30 biggest stocks tracker VN30-Index still losing 2.08 points, or 0.17 per cent, to 1,225.1 points. The southern market's breadth remained in negative territory with more stocks declining than increasing. Liquidity also fell sharply compared to the previous session. Accordingly, the matching value on the HoSE tumbled 35.3 per cent to VND4.42 trillion (US$190.1 million). However foreign investors net bought more than VND140 billion on the southern bourse in the morning session. On the Ha Noi Stock Exchange (HNX), the HNX-Index climbed 1.82 points, or 0.68 per cent, to 271.21 points. Leading the … [Read more...] about Market inches higher on energy, seafood stocks