National Fish, part of Pacific Andes Resources Development, committed to provide the education, support and funding necessary for the farms, which are operated by Minh Phu, to enroll in GAA’s iBAP improvement program and make the improvements necessary to apply for BAP certification as groups or as an integrated operating module (IOM).
Upon enrolling in iBAP, the farms will have 12 months to attain BAP certification. National Fish & Seafood also pledged to market the shrimp from the farms that earn and retain BAP certification. Likewise, GAA committed to providing the education and support necessary for National Fish and Minh Phu to manage the project.
“We are delighted to announce our partnership with the GAA and Minh Phu on such a forward-thinking, innovative project to certify hundreds of small-scale shrimp farmers while preserving the sensitive, and extremely vulnerable, mangrove environment,” said Jeff Sedacca, president of National Fish’s shrimp division.
“This initiative exemplifies a sustainable model which values environmental and social wellbeing and will provide ecological and economic returns for many years in the world’s largest intact mangrove forest. Third-party certification of this progressive farming model will open the doors to international markets, further incentivizing governments, private sector and NGOs to work together to strengthen sustainable aquaculture," he said.
“This is a very important milestone for the BAP program,” said Peter Redmond, BAP’s vice president of market development.
“We have long said that the traditional model of certifying a single farm is not practical for the future. This announcement today further demonstrates our commitment to making third-party certification available to the majority of aquaculture constituents," he said. "We applaud the work and vision of National Fish and Minh Phu and are honored to be the certification program of choice for this large and very important project. We view this as a very strong sign of real change on the water.”
Facilities that enroll in iBAP agree to a step-by-step, deadline-driven plan. They can apply directly or through organizations acting on their behalf, such as a processor, supplier or buyer.
Since its launch in early 2014, 82 facilities worldwide have enrolled in iBAP. Of the 82 facilities, 35 have applied for BAP certification and 10 are BAP-certified.
Currently, there are 37 facilities enrolled in iBAP, representing nine countries -- Brazil, China, Ecuador, Honduras, India, Mexico, Panama, Peru and Thailand -- and three species, shrimp, tilapia and trout, as well as aquaculture feed.
(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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