Currently, though enterprises took profit of rise of 9.3 percent in the USD/VND exchange rate evaluation, many of them still suffered losses in sales due to rising input cost, and they had to restrict their production. According to Le Chi Binh - the Vice President of An Giang Fisheries Association (AFA), the well-trimmed pangasius fillet price is expected to be modestly sold at US$3-3.05/kg, and the untrimmed pangasius fillet price stops at US$2-2.1/kg, up 18-20 percent compared with October, 2010.
While the production cost of well-trimmed pangasius fillet is US$3.15/kg after a soar of 60 percent in raw pangasius price (compared with the mid-2010), higher price of oil pushing transportation cost up 12 percent, rise of 10 percent in electricity cost, high loan rate of 20 percent a year…That exceeds to the enterprise capacity. In fact, they are pushed to spend several billion VND more within a month, if they want operate a plant with a production capacity of 100 MT/day.
Most enterprises in Mekong Delta are suffering lack of raw pangasius. Those have their own pangasius farming areas could ensure only 50-60 percent of production capacity of their plants. Thuan An Fisco Co.,Ltd plant processed just 40 MT/day while its designed capacity of production was 140 MT/day. Although the enterprise is farming pangasius in 40 hectares, it still failed to ensure processing demand, Khuu Thi Cam Nhung, the enterprise’s Deputy Director said.
In order to overcome difficulties to recover pangasius industry, it is necessary to take measures to encourage pangasius farmers. Exporters rethink pangasius export price; Processors set out an effective pangasius plan with appropriate capacity. The government must set master plan for pangasius farming.
(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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