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) In the context of a global economy shifting powerfully toward green and sustainable values, Vietfish 2026 is far more than just a commercial trade fair. It has become a strategic rendezvous and a "comprehensive ecosystem"—a convergence of value, knowledge, and sustainable growth opportunities for the entire industry chain.
(seafood.vasep.com.vn) Vietnam’s pangasius exports to Colombia continued their strong upward momentum in May 2026. Export value to the market reached USD 4 million, up 24% compared to the same month in 2025. Cumulative exports in the first five months of 2026 totaled USD 24 million, an impressive 48% increase year-on-year.
(seafood.vasep.com.vn) Hai Phong's aquaculture sector is accelerating the adoption of high technologies in aquaculture to adapt to climate change, with red tilapia and tilapia identified as the key cultured species for priority development.
(vasep.com.vn) Vietnam’s seafood exports reached nearly US$1.1 billion in June 2026, up 21.0% year-on-year. Cumulative exports in the first half of 2026 totaled nearly US$5.8 billion, representing a 12.8% increase compared with the same period last year. Exports to China and Hong Kong continued to accelerate, while shipments to the United States rebounded strongly in June. In contrast, exports to the EU, Japan, and the Middle East remained sluggish or recorded slight declines.
(vasep.com.vn) Tilapia is playing an increasingly important role in Vietnam’s aquaculture sector, driven not only by growing market opportunities but also by its ability to meet increasingly stringent requirements on quality, food safety, and traceability. In practice, tilapia farming in Vietnam is not a spontaneous or loosely regulated activity; rather, it operates under a comprehensive legal and technical framework covering the entire value chain—from hatcheries and farming to processing and exports.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached USD 1.9 billion in the first five months of 2026, up 12% compared with the same period last year. Amid continued volatility in the global seafood market, this result demonstrates that the shrimp sector has maintained positive growth momentum, supported by improving demand in several Asian markets, particularly China.
(seafood.vasep.com.vn) On June 16, the Department of Agriculture and Environment of Ca Mau Province announced that the locality has established a farming area code for nearly 30,400 hectares of mud crab aquaculture and granted export facility codes to five enterprises eligible to export mud crab officially to markets such as China, Cambodia, Singapore, and the United Arab Emirates (UAE).
(seafood.vasep.com.vn) The United States remains one of the largest export markets for Vietnamese pangasius. In the first four months of 2026, pangasius exports to the US reached USD 106 million, up 4% compared to the same period in 2025. In April 2026 alone, export value totaled USD 38 million, marking a 20% year-on-year increase and the first positive growth recorded after an extended period of decline.
(seafood.vasep.com.vn) While Vietnam’s shrimp exports to many major markets continued to post positive growth in the first months of 2026, exports to the United States declined, highlighting growing competitive pressures and trade barriers facing the Vietnamese shrimp industry.
(seafood.vasep.com.vn) Egypt is emerging as one of the most promising destinations for Vietnamese tuna exports in 2026. During the first four months of the year, export turnover to this market exceeded USD 7.3 million, marking a sharp increase compared to the same period over the previous two years. As Egypt’s tuna imports continue to recover and demand for canned tuna remains strong, the market is becoming increasingly attractive for Vietnamese tuna processors and exporters.
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