In 2013, shrimp production in Ca Mau province performed well thanks to high shrimp price. The price of shrimp in all varieties in 2013 is VND20,000 per kilogram, higher than last year which fetched high profit to local shrimp farmers and processors. Because trade promotion was given priority, Ca Mau shrimp is sold to 80 countries and territories, mainly the
However, local shrimp sector faced some hardship such as unfavorable weather conditions, diseases. In 2013, nearly 10 thousand hectares of shrimp farming area including 1,000 hectares of industrial shrimp farming in the province was damaged by diseases (white spot and Hepatopancreatic Necrosis Syndrome).
To help shrimp farmers overcome bottlenecks, local authorities strengthened the link between farmers and processors, cooperation among farmers, producers of seed, feed and veterinary drugs and scientists.
For a shrimp farm, the farmer will contribute 25 percent of total production cost, processors provide 35 percent and the rest 40 percent will come from bank loans.
Shrimp seed producers signed supply contracts with farmers in order to supply good quality shrimp seed to farmers with stable price.
Processors signed contracts with farmers to ensure that they will buy all shrimps produced by farmers. The state supports farmers by investing in infrastructure, water irrigation system, electricity. The state helps farmers control diseases and antibiotic residue, inspect shrimp seed. Competent authorities create favorable conditions for farmers to source seed, feed and materials from producers in stead of middle dealers and sold raw shrimp directly to processors.
The province recommends farmers to expand innovated extensive shrimp farming area and co-cultivated shrimp with other aquatic species to raise productivity. The province set a target of US$1.14 billion in seafood exports in 2014.
(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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