Minh Phu Seafood Corporation (MPC - UPCoM) has just released documents for its 2024 Annual General Meeting of Shareholders, scheduled to be held on June 22.
As a result, Minh Phu Seafood has set itself a revenue target of VND 18,568 billion for this year—a 72% increase over 2023—and a post-tax profit target of VND 1,265 billion—a decrease from VND 105 billion in 2023. If everything goes according to plan, this will be the company's biggest profit since 2008.
The leadership of Minh Phu Seafood stated that the company aims to become one of the world's leading seafood suppliers in the near future with two key missions.
First, it will not compete with shrimp products from India and Ecuador in terms of price, but will focus on improving quality and creating market differentiation.
Second, it will focus on completing and promoting shrimp seed production using MPBio Biotechnology to lower the cost of raw Vietnamese shrimp to be on par with Ecuador by 2030, and strive to achieve the goal of self-supplying 50% of the raw shrimp demand for the company's processing plants by 2035.
Assessing the prospects of the Vietnamese shrimp industry, Minh Phu Seafood's leadership stated that currently, Vietnamese shrimp products are facing fierce competition from many other countries in major export markets such as the US, China, and Japan.
According to the 2023 Annual Report, Minh Phu Seafood reported that in 2023, diseases had increased the cost of farmed shrimp in Vietnam. Meanwhile, Ecuador's farmed shrimp production increased to 0.8 - 1.4 million tons, contributing to a global oversupply situation, causing shrimp prices to plummet to only 50% of the cost price.
To face these challenges, Minh Phu Seafood's leadership plans to implement a product diversification strategy, focusing on deep processing to create value-added products and maintain the quality of raw materials.
Additionally, Minh Phu Seafood will consider expanding its market to other countries such as South Korea, Australia, and New Zealand.For the domestic market, Minh Phu Seafood aims to increase its shrimp market share by 5 - 10% this year.
(seafood.vasep.com.vn) Tilapia is easy to farm and provides high economic and nutritional value, making it a sought-after export commodity in many countries.
(seafood.vasep.com.vn) Vietnam’s seafood exports in the first 10 months of 2025 recorded significant progress, reaching more than USD 9.5 billion, up 15% year-on-year. This result reflects the sector’s persistent efforts amid a highly volatile market, especially policy shocks from the US Although signs of slowdown emerged in the third quarter due to countervailing taxes, key product groups still maintained strong momentum and created a foundation for full-year exports to reach USD 11 billion.
(seafood.vasep.com.vn) Vietnam’s agreement with the United States on a framework for reciprocal, fair, and balanced trade—reached during the 2025 ASEAN Summit in Malaysia—has generated strong optimism for Vietnamese exports, including tuna. Numerous positive points in the joint statement have raised high expectations for Vietnamese export goods, but turning these expectations into tangible benefits remains a long and challenging journey.
(seafood.vasep.com.vn) At the conference on “Linking the Production and Consumption Chain of Ca Mau Crab 2025,” Vice Chairman of the Ca Mau Provincial People’s Committee Lê Văn Sử posed a central question: how to shift the province’s crab exports toward official trade channels, instead of relying heavily on small-scale border trade with China as currently practiced.
(seafood.vasep.com.vn) The whitefish market in Japan is showing a clear divergence among supplying countries, in which Vietnam continues to affirm its role as a stable and high-potential exporter. Vietnam currently ranks third after the US and Russia in whitefish export value to Japan. Thanks to tariff incentives and the ability to meet Japan’s strict standards, Vietnamese pangasius continues to record a stable and positive growth trend.
(seafood.vasep.com.vn) The People's Committee of Ca Mau Province has just issued a plan to expand the super-intensive, low-water-exchange, biosecure white-leg shrimp farming model (RAS-IMTA) for whiteleg shrimp farming to a scale of 1,500 hectares, aiming to develop high-tech, sustainable and environmentally friendly shrimp farming.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company (HNX: SGC) plans to issue over 7.1 million shares to raise nearly 465 Billion VND for Hoan Ngoc M&A Deal.
(seafood.vasep.com.vn) According to Rabobank, global tilapia production is forecast to exceed 7 million tons in 2025, driven by a strong recovery in major producing countries including China, Indonesia, Egypt, Bangladesh and Vietnam. Among them, Vietnam is emerging as a potential tilapia supplier in the global supply chain, capitalizing on market fluctuations to expand production and exports.
By the end of Q3/2025, Vietnam’s seafood industry recorded a clear recovery as a series of leading companies reported strong profits — some even achieving the highest results in their history. After several quarters struggling with high costs and weakened demand, the latest business results indicate a robust comeback across the industry.
(seafood.vasep.com.vn) On November 12 in Ho Chi Minh City, the Embassy of the Netherlands, in coordination with the Ministry of Agriculture and Environment, organized the Vietnam–Netherlands Business Forum under the theme “Shaping the future of sustainable aquaculture in the Mekong Delta.”
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