The Tien Giang-based firm will continue to export 400 MT of seafood products to European countries. In 2014, it targets to produce 28,000 MT of seafood products (up 10,000 MT) for a total export value of US$60 million, a 1.5-fold rise and a turnover of VND1,500 billion, a 2-fold rise against that of 2013.
In 2014, Vietnam export-driven fishery industry may see more advantages than the previous years, as the global economy is on the recovery, leading to strong consumption in importing markets. At the moment, Godaco is investing in its reorganization plan by creating a close link among all steps in the production chain, as well as further promoting products to open more markets. In addition, Godaco focuses on equipment and modern technologies in processing plants to improve production and product quality to meet foreign consumers' demands.
In 2014, the company plans to inject VND150 billion in installing equipment in 3 feed processing chain, building more processing plant and a pangasius farming area of 50 hectares. Total superficies for farming area will be 230 hectares, satisfying 80 percent of raw material needs.
In late 2013, Godaco started running its new seafood processing zone which covered an area of 7 hectares including a pangasius fillet processing workshop, a fishmeal processing workshop and cold store in Ben Tre province. Of more than VND250 billion of the total investment, VND150 billion is invested into modern equipment and automatic conveyor.
In the 1st phase, the plant's production capacity is 150 MT of raw fish per day and 100 MT of by-products per day. Its cold storage has capacity of 5,000 MT of finished products. The plant will employ 1,500 local workers.
So far, Godaco has had 6 seafood processing plants for pangasius, clam and other seafood products, which are sent to 40 countries and territories. The company totals 3,000 workers with an average salary of VND5 million per person per month.
In 2013, the company exported US$40 million of seafood products to EU, Middle East and North America.
www.godaco-seafood.com.vn
(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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