Specifically, the company estimates that its total processed shrimp production increased by nearly 22% compared to 2023, reaching 25,833 tons. In contrast, total processed agricultural products dropped by 34%, totaling 1,040 tons.
By the end of December 2024, the company had completed stocking shrimp seedlings for the off-season across its entire shrimp farming area.
Regarding sales, the volume of processed shrimp sold reached 22,164 tons, up 27% compared to 2023. For agricultural products, the sales volume decreased by 4%, totaling 1,309 tons.
For the full year 2024, Sao Ta Foods estimates total revenue of $250.86 million, a 25% increase compared to 2023 and 19% higher than the company's initial target.
These impressive results come despite significant challenges faced by Vietnam’s shrimp industry, including global economic instability, unfavorable shrimp farming conditions, and trade defense measures targeting Vietnamese shrimp, particularly in the U.S. market.
In connection with the countervailing duty case involving frozen warmwater shrimp imported from Vietnam, the U.S. Department of Commerce (DOC) issued its final ruling on October 22, 2024. The ruling imposes a countervailing duty rate of 221.82% on one non-cooperating company and a 2.84% rate for all other Vietnamese exporters.
Sao Ta Foods's management noted that it had anticipated the risks associated with exporting to the U.S. market. The company proactively allocated provisions for antidumping and countervailing duties in its U.S. sales revenue. Additionally, since 2020, the company has implemented various market strategies to mitigate these risks, including shifting focus to the Japanese market.
The Japanese market is considered a “home ground” for Sao Ta Foods, allowing the company to leverage its strengths in premium, deeply processed products while reducing business risks. This advantage stems from Japan’s geographical proximity and the lack of direct competition with low-cost shrimp from India and Ecuador. Currently, Sao Ta Foods is Vietnam’s largest shrimp exporter to Japan.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first two months of 2025, Vietnam's shrimp exports recorded positive signs with strong growth in a number of important markets, of which lobster exports to China increased sharply.
In recent years, the agricultural and environmental sectors and localities in the province have created favorable conditions to develop and effectively maintain seafood chains, increasing income for people in rural areas.
(seafood.vasep.com.vn) According to Vietnam Customs, the country’s pangasius exports regained growth momentum in February 2025. Export value reached USD 150 million, marking a 66% increase compared to February 2024. Cumulative pangasius export revenue for the first two months of the year totaled USD 284 million, up 11% year-on-year.
Minh Phu Seafood Corp, one of the leading enterprises in shrimp processing and export, is actively promoting cooperation with shrimp farmers to develop the shrimp industry in Ca Mau.
(seafood.vasep.com.vn) In 2024, Vietnam’s tuna exports to the Middle East continued their impressive growth, rising by 28% compared to 2023. The Middle East is now emerging as one of Vietnam’s top four tuna export markets.
(seafood.vasep.com.vn) Recently, the price of Pangasius in the Mekong Delta has increased significantly, making fishermen very excited. However, looking at the overall picture of this industry, the rise in Pangasius prices is not just an opportunity, but also comes with many challenges.
(seafood.vasep.com.vn) Dishes made from fish, especially pangasius, have become common and are found in nearly all restaurants, hotels, and banquets in Pakistan.
Looking back at the period from 2022 to 2024, crab exports to China have shown significant fluctuations. In 2022, China imported over 62 million USD worth of crabs, averaging 5-9 million USD per month, indicating a stable import demand from China. However, in 2023, exports sharply dropped to 13.3 million USD, averaging only 1-2 million USD per month, due to China's tighter quarantine controls and weakening consumption demand.
In January 2025, Vietnam's shrimp exports to the UK reached over 16 million USD, an 8% increase compared to the same period last year. The UK is the sixth-largest individual market for Vietnam’s shrimp imports, accounting for 5.5% of the total shrimp exports to various markets. Shrimp also holds the largest share (70%) in Vietnam’s total seafood exports to the UK.
Nguyễn Đức Bình, vice director of Quảng Ngãi Province's Department of Agriculture and Rural Development, said that 4,259 out of 5,194 fishing boats (82 per cent) had registered for operations at sea.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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