Currently, stocking households have early entered the first batch of harvest. According to farmers, the situation of farming this year is basically more favorable than the same period last year. The salinity is not too high and the weather is not too harsh, so some households have achieved good results. In addition, there is a shortage of raw shrimp supply, so shrimp prices remain high, which is a good sign for shrimp farmers.
Promote to expand markets
Mr. Chau Cong Bang, Deputy Director of Ca Mau province's Department of Agriculture and Rural Development, said Ca Mau province had the largest aquaculture area in the country, with over 302,861 ha, accounting for 27.9% of the country’s area and 39% of the Mekong Delta’s. Annual production reaches 321,000 MT; Ca Mau shrimp is present in 60 countries and territories. At present, the province is promoting trade activities for seeking partners, expanding export markets to Western European countries and aiming at the potential market - India.
At present, the area of industrial shrimp farming is 9,664 ha. Of that, the area of super-intensive shrimp farming increased rapidly with nearly 1,000 hectares and the productivity reached 80-100 MT/ha/crop, contributing significantly to the export turnover of the province.
According to Mr. Tang Thai Xuyen, Director of MINH PHU MANGROVES, under Minh Phu Seafood Corp., to hit the turnover of US$1.1 billion by 2018, the fisheries sector needs to plan development of shrimp farming in a suitable way; change the structure and apply science and technology to bring about sustainable effect. In addition, it is necessary to speed up the application of science and technology, to ensure high quality seed, reduce costs, control disease and food safety as well as strengthen the international cooperation, remove technical barriers so that the fishery products of Vietnam in general and Ca Mau in particular can penetrate deeper and broader into the international market.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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