Currently, input prices have increased tremendously (especially for gasoline), leading other industries’ price levels to increase accordingly. Noticeably, the price of input materials for aquaculture has also increased, such as imported soybeans, bran, fat, etc., along with the increase in workers' wages to ensure that it is in line with the current price slide. Another difficult point is that, even though the epidemic is controlled, a few large markets are still applying the Zero Covid policy, so the openness of these markets is not certain and varies at times, affecting the global supply chain. Input materials, have increased by 10% - 20%. The most notable increase is the freight rate, which has increased by 5 to 10 times. For example, the European freight for a 40-foot container at between 1,500 USD to 2,000 USD has leaped to 20,000 USD. The difficulty to find shipping containers has been affecting company’s competitiveness, hindrancing market supply due to delayed orders and affecting the customers. Facing this situation, GODACO has put forward some solutions: reaching out to new markets, expanding new products, limiting activities in unstable markets, reducing unnecessary costs in production, increasing productivity and quality improvement, etc., in order to minimize the impact of increasing input prices, heading towards increasing competitiveness in markets. According to Mr. Dao, the processed seafood industry in particular, and the food industry in general, after the epidemic, the recovery of the economy and the demand for food and travel will contribute to the increasing consumption demand for this product category. We also expect that from now to the end of 2022 as well as the coming years, the demand for food will keep increasing. This is also a new opportunity for the seafood processing industry. Taking advantages of these opportunities, the company also takes preparation steps, especially implementing many solutions to get back to its position before the epidemic by the end of 2022. The company also set specific goals for the coming years, such as continuing to expand the pangasius farming area of about 70 hectares, building more processing plants, expanding the market... GODACO's goal in 2023 is to increase revenue and export turnover by about 30% and the company will be among the top 3 largest fish processing enterprises in Vietnam in the next 5 years.
Compiled by My Hanh
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) has just announced that in March 2024, finished shrimp output reached 2,000 tons and finished shrimp consumption reached 1,693 tons, an increase of 74%, and 42% over the same period in 2023, respectively.
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