Market penetration
Bac Lieu Province currently has 48 seafood processing factories for export, with a designed processing capacity of nearly 300,000 tons/year. According to the assessment of the Bac Lieu Department of Industry and Trade, in recent times, many seafood export enterprises have implemented flexible solutions to adapt promptly to the changes in the world market consumption situation. Seafood export enterprises focus on products with high added value and export value, penetrating into "demanding" markets such as the US, Japan, EU, China, Korea and many other markets around the world.
Currently, seafood processors and exporters in the province are maintaining good performance in traditional export markets to increase turnover, especially key markets such as Japan, the US, China, and Korea. In the face of difficulties and challenges caused by the global economic downturn, many businesses have promptly adjusted their production and business strategies to improve the efficiency of shrimp export to key markets. In particular, businesses focus on the input source of raw shrimp materials, improve production capacity to create high-quality export products with high competitiveness, ensuring that they meet the strict standards when exporting to demanding markets. Along with that, promoting the expansion of many new consumption markets in the Middle East, Africa, Oceania...
Application of technology in manufacturing
In Bac Lieu's agricultural product structure, seafood is recognized as a significant economic industry, with an annual export value over one billion USD. Almost 140,000 hectares are dedicated to aquaculture in the province, with several types including high-tech super intensive farming, intensive and semi-intensive farming, integrated improved extensive shrimp farming, shrimp - forest, and shrimp - rice. Compared to other shrimp farming models, the high-tech, super intensive model alone increases production by ten to fifteen times, producing raw shrimp output that makes up one-third of the province's entire shrimp farming output. Currently, this production model is being used by 25 businesses, units, and about 1,000 households in Bac Lieu province.
In order to develop high-tech shrimp farming models and meet the demand for raw materials in the province, the Bac Lieu Department of Agriculture and Rural Development said that in the coming time, the province will continue to restructure the agricultural sector, focusing on developing the shrimp industry value chain; applying science and technology, especially high technology; promoting the reorganization of production in the form of cooperatives and cooperatives towards linking farmers with input suppliers and processing enterprises to consume products into a value chain that brings economic efficiency and replicating these forms of linkage to contribute to reducing production costs, stable, effective and sustainable product consumption.
With an export value of over 1 billion USD/year, seafood is identified as a key economic sector in the agricultural product structure of Bac Lieu. The province has over 140,000 ha of aquaculture with models such as: high-tech super intensive farming; intensive, semi-intensive; combined improved extensive shrimp farming; shrimp - forest; shrimp - rice. The high-tech super intensive shrimp farming model alone gives a productivity increase of 10-15 times compared to other shrimp farming models, creating raw shrimp output accounting for 1/3 of the total shrimp farming output in the province. Bac Lieu province currently has 25 companies, units and nearly 1,000 households applying this production model.
In order to develop high-tech shrimp farming models and meet the demand for raw materials in the province, the Bac Lieu Department of Agriculture and Rural Development said that in the coming time, the province will continue to restructure the agricultural sector, focusing on developing the shrimp industry value chain; applying science and technology, especially high technology; promoting the reorganization of production in the form of cooperatives and cooperatives towards linking farmers with input suppliers and processing enterprises to consume products into a value chain that brings economic efficiency and replicating these forms of linkage to contribute to reducing production costs, stable, effective and sustainable product consumption.
(seafood.vasep.com.vn) FIMEX VN's sales surged almost 36% year-on-year to USD 30.38 million in August 2024, driven by a 74% increase in finished shrimp production.
(seafood.vasep.com.vn) China and the US are the two largest whitefish import markets in the world. Vietnam is the second largest supplier for both markets (mainly supplying pangasius). Frozen pangasius fillets are still the main product imported from Vietnam by these two countries.
(seafood.vasep.com.vn) The “Bien Bach Dong Commune Shrimp-Rice Project” in Ca Mau province was granted the second BAP (Best Aquaculture Practices of the Global Aquaculture Alliance) certificate for shrimp products in the shrimp-rice specialized area in Thoi Binh district, Ca Mau province.
(seafood.vasep.com.vn)The red and yellow tilapia prices in An Giang have increased sharply, reaching a new record. Recently, traders in the provinces are purchasing red tilapia and tilapia at 50,000–51,000 VND/kg, the highest price ever. With this price, fish are exported to rafts, and farmers earn a 9,000–10,000 VND/kg profit.
(seafood.vasep.com.vn) In July 2024, Vietnam's tuna exports to the EU showed signs of decline compared to the same period, down 14%. In the first half of August, although Vietnam's tuna exports to the EU increased, exports of canned tuna continued to decrease sharply.
(seafood.vasep.com.vn) In July 2024, pangasius exports to the US continued to grow impressively. According to Vietnam Customs, there were nearly US$31 million pangasius exported to the US in July, up 69% over the same period last year. Cumulative pangasius exports to the US in the first 7 months reached more than US$190 million, up 20%.
(seafood.vasep.com.vn) According to the Department of Agriculture and Rural Development of Tra Vinh province, farmers in coastal areas of Cau Ngang, Tra Cu, Duyen Hai districts and Duyen Hai town have now cultivated over 1,800 hectares of whiteleg shrimp under a high-tech super-intensive model (high density), which is double the same period in 2023.
(seafood.vasep.com.vn) With the signs of recovery in pangasius exports, the increase in farming area and output, An Giang's fisheries sector has been actively supporting farmers and businesses to boost production, processing, and consumption in the last months of the year.
(seafood.vasep.com.vn) In July 2024, Vietnam's tuna exports continued to maintain growth momentum over the same period, increasing by 14% to nearly 87 million USD. However, the export growth rate is slowing down a lot compared to previous months. Cumulatively, in the first 7 months of the year, tuna export turnover reached 558 million USD, an increase of 22%.
(seafood.vasep.com.vn) With the goal of bringing exported seafood products to Vietnamese consumers, Vietfish 2024 organized by VASEP has, for the first time, focused on a dedicated area for showcasing seafood products for the domestic market. This event provides an opportunity for local consumers to access high-quality seafood products that meet international standards at reasonable prices, products that Vietnam is currently exporting to 170 countries.
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