Evergreen is already cutting its exports in 2013, from around 1,800 metric tons last year, to only around 1,300t, said Liang Chaorong, manager-assistant at the company.
In 2014, this is likely to tumble to just 500-600t, he said.
In contrast, the group expects to sell 5,000-6,000t domestically from its own factories next year, up from 3,500t this year. The remaining 20,000-30,000t that its farms harvest is sold to third party plants.
“We will cut the export business from next year, and focus on the domestic,” Chaorong told Undercurrent News.
Chaorong cited the impact of early mortality syndrome (EMS), as well as high shrimp seed prices in
The shrimp raw material situation has “no chance” of getting any better next year, so farmers will use more antibiotics to prevent the shrimp from dying, said Chaorong. This, in turn, will make it impossible to export to markets where the use of antibiotics is limited or prohibited, such as
In addition, negotiations between
Farmers tried to negotiate the price downwards, citing a drop in quality, he said, and the parties failed to agree on a price.
A deal will have to be sealed by April next year in time for the next farming season, he said.
Both Evergreen and Zhanjiang Guolian Aquatic Products (Guolian) – considered to be China’s largest shrimp producer — had toldUndercurrent at the China Fisheries & Seafood Expo in Dalian in early November that they were in the process of cutting exports in favor of domestic sales.
Evergreen describes itself as a $1 billion-turnover group, owning hatcheries, farms, plants as well as fish and shrimp feed mills.
(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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