The Ministry of Agriculture and Rural Development said that seafood output in October reached nearly 871,000 tons, up 2.6% over the same period in 2023.

Total aquatic product output in the first 10 months of 2024 increased by 2.5% over the same period last year

Aquaculture development

According to statistics from the Ministry of Agriculture and Rural Development, the total aquatic product output in the first 10 months of 2024 reached nearly 7.9 million tons, up 2.5% over the same period last year. Of which, the output of exploited aquatic products reached nearly 3.3 million tons, up 0.6%; the output of aquaculture reached more than 4.6 million tons, up 3.8%.

The Food and Agriculture Organization of the United Nations (FAO) recently released a report titled "The 2024 edition of the State of World Fisheries and Aquaculture (SOFIA)". Accordingly, global aquaculture production in 2022 reached 223.2 million tons, up 4.4% compared to 2020. The report also pointed out that for the first time, aquaculture production exceeded capture production, becoming the main source of aquatic animal products in 2022.

According to the FAO report, 10 countries - including Vietnam, China, Indonesia, India, Bangladesh, the Philippines, South Korea, Norway, Egypt and Chile - accounted for more than 89.8% of total aquaculture production.

Vietnam's seafood export turnover in the first 10 months of 2024 reached 8.33 billion USD, up 12% over the same period last year. Of which, shrimp export turnover reached 3.23 billion USD, up 13.9%; pangasius reached 1.54 billion USD, up 8.7%.

Notably, in October 2024 alone, our country's seafood export turnover reached 1.1 billion USD, an increase of nearly 31% over the same period last year. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), this is the first time in 27 months (since June 2022) that monthly seafood exports have returned to 1 billion USD - a welcome milestone for Vietnamese seafood businesses.

The United States, China and Japan are the three largest markets for seafood products in Vietnam. With impressive growth in recent months, the seafood industry is confident that it will reach and exceed the export target of 10 billion USD this year.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that by the end of October 2024, our country's seafood export turnover had reached 8.33 billion USD, with 2 more months, if each month reaches 900 million USD, this year's seafood export will reach the target of 10 billion USD. This is a very important goal of the industry and the Ministry of Agriculture and Rural Development assigned by the Prime Minister.

"In the difficult context, especially after storm No. 3, the livestock and aquaculture industries were greatly affected, but we are sure to still reach the finish line and achieve the goals set for 2024. This is a very important year, a year of acceleration to prepare to reach the finish line and end the 2021 - 2025 period," Deputy Minister Phung Duc Tien emphasized.

Pay attention to market fluctuations

Commenting on the challenges that the Vietnamese seafood industry will face in the coming time, Ms. Le Hang, Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP) shared that in addition to challenges related to taxes and regulations from major markets, the seafood industry also has to face climate and environmental changes, affecting raw material sources. In addition, competition from countries in the region is also increasing.

For the shrimp and pangasius industries, although it is in the peak import season, they still face a shortage of domestic raw materials. Enterprises need to be more flexible in using reserve raw materials and alternative sources of supply to make the most of market opportunities.

Regarding tuna, squid and octopus exports, although positive growth was recorded in October, they tended to slow down compared to the first half of the year due to the impact of regulations in Decree No. 37/2024/ND-CP of the Government on regulations for controlling exploited seafood, causing the confirmation and certification of seafood at many fishing ports to stagnate.

As for skipjack tuna - the main raw material for canning, it is completely blocked from the exploitation stage because fishermen are afraid of violating the regulation on the minimum size of skipjack tuna of 0.5m or that the catch will not be sold to processing factories for export.

In addition, the seafood exploitation industry is waiting and hoping for more positive results after the EU's Illegal, Unreported and Unregulated Fishing (IUU) inspection program scheduled for November 2024.

Accordingly, Ms. Le Hang advised: "Enterprises need to improve their competitiveness by improving product quality and diversifying export markets".

According to Deputy Minister Phung Duc Tien, the task from now until the end of the year is to maintain the growth rate. Accordingly, in the coming time, localities must strictly implement Directive No. 32-CT/TW dated April 10, 2024 of the Secretariat on strengthening the Party's leadership in combating IUU fishing and sustainable development of the fisheries sector; focusing on the target of reducing fishing output; continuing to overcome damage and restore production after storm No. 3; developing aquaculture, diversifying farming objects; especially paying more attention to infrastructure issues. This is a very important issue, but currently it has not received due attention.

"The potential and potential of our country's fisheries industry is still very large, but if it cannot be exploited, the growth rate cannot be maintained. Without infrastructure, there will be no high-tech multi-stage farming, no marine farming and no good exploitation", Deputy Minister Phung Duc Tien emphasized.

Source: Kinh Te Nong Thon Newspaper