In July 2013, exports are estimated to reach US$21,017 million, increasing 35.11 percent against that of July 2012. In the first seven months of the year, total export value is around US$121 million, up 1 percent from 2012.
In a context of many difficulties faced by Vietnam fishery industry due to global economic crisis and EMS disease on shrimp, Minh Phu Seafood Corporation is still gaining business profits in 2013 as the company implemented its own business strategy, according to Le Van Quang, General Director of Minh Phu Seafood Corp. Minh Phu, in fact, continued to invest in sustainable development and strengthened exports in order to reach a total revenue of US$180 million this year.
Due to persistent challenges from 2012, raw shrimp became more expensive, pushing the price of exported products up to 30 percent. As diseases have damaged shrimp production in some other producing countries, Vietnamese exporters will have more opportunities to enhance shrimp sales to the global market, according to source from Vietnam Fish One Company.
Nguyen Van Kich, General Director of Cafatex Corporation said that cutting production cost is seen as the best solution for Cafatex to keep business during the tough economic time. Besides reorganizing production chain to reduce expenses, the company found new way to diversify products. Cafatex focuses on farming shrimp and producing value-added products to export, setting the target to maintain a yearly revenue of US$30 million.
In addition to lack of raw material for processing, other concern of companies in Hau Giang is to find source of skillful workers. Seafood companies strictly manage processing chain and require workers to comply with standards on hygiene conditions and work safety. However, they do not find enough highly qualified workers for processing operations.
Minh Phu – Hau Giang Seafood Company Limited owns a processing plant made up of 10,000 workers, but it has just had 3,000 workers so far. Of which, 40 percent were in the neighbourhood and the others came from surrounding provinces.
Hau Giang’s fishery industry has invested in training courses for labors from rural area in order to create huge sources of skillful workers for the market, said Nguyen Trung Liet, Deputy Director of Provincial Department of Labour - Invalids and Social Affairs.
(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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