Today, CP Vietnam officially signed a strategic cooperation agreement with PAN Group, the two sides agreed to cooperate in developing the shrimp value chain, from seed to table, in order to raise the level of Vietnam's shrimp industry.
Previously, CP Vietnam invested a 24.9% stake in Sao Ta Food Joint Stock Company (code FMC), a subsidiary of PAN Group. The two companies are also strategic business partners and have enjoyed a good relationship for many years.
"During the past 20 years, the shrimp industry has always played an important role in Vietnam's seafood exports, contributing about 40-45% of the total seafood export value, equivalent to 3.5-4 billion USD. Export growth has been very stable, averaging 5%/year for the past 5 years. We believe that Vietnam's shrimp industry still has a lot of potential for development, and this will still be one of the key industries. I believe and hope that, with the cooperation with PAN Group, we will jointly develop Fimex (FMC) to be stronger and more competitive in export markets.
With its experience in breeding and animal feed, CP believes that combining with FMC will create synergistic values for both businesses. Thereby joining hands to complete the government's target of 1.15 million tons of shrimp farming from now to 2025. Our goal when investing is to jointly develop FMC to become a leading enterprise in the industry and compete with major shrimp exporting countries in the world," said Mr. Montri Suwanposri."
C.P. Vietnam currently has 9 feed mills, 2 seafood processing plants in Hue city and Ben Tre province and 5 meat processing plants in Hanoi, Dong Nai, and Ho Chi Minh City and Binh Phuoc. The company operates in the field of Agro-Industry and closed food processing, mainly in the field of livestock, poultry and aquatic products. In particular, special attention is paid to the application of standard systems and modern technologies to production practices in Vietnam.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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