In order to fulfil the target, the province takes advantage of its resources to invest, plan and expand large scale industrial shrimp farming area; applies comprehensive measures and solve difficulties exposing in the process of implementation.
Ca Mau can reach the target of US$1 billion in seafood export turnover this year thanks to industrial shrimp farming. During 2000 (when the province changed production structure) to 2010, industrial farming area reached only 1,000 hectares. But in 2011 alone, the area increased to nearly 3,400 hectares.
Due to higher shrimp farming density, shrimp farming productivity under industrial model is fourteen-fold higher than that under extensive model. However it requires high investment capital of about VND250 million per hectare, costing a lot of labour, depends much on environmental changes.
Industrial farming area in the province has increased two-fold. The biggest difficulties of the province are still lack of capital, an appropriate planning, and lack of electricity. It is high time for the province to complete the project of industrial farming area planning. Ca Mau has invested VND1,000 billion to upgrade irrigation system, develop areas specializing in industrial shrimp farming.
In 2011, Ca Mau invested VND1,000 billion to upgrade irrigation system, apply advanced technology and expand producing groups. Ministry of Industry and Trade carried out the investment project of electricity supply for industrial shrimp farming areas in the districts: Dam Doi, Ngoc Hien, Nam Can, Phu Tan and Ca Mau city with 3,369 households owning farming area of 4,132 hectares.
(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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