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) Vietnam’s tuna exports continued to decline in March 2026. Cumulatively, in the first three months of the year, export value reached USD 208 million, down 4% compared to the same period in 2025. The export landscape shows clear divergence across markets: while the U.S. and EU remain challenging, markets such as Russia, the Middle East, Egypt, the Philippines, and Mexico have emerged as growth bright spots.
(seafood.vasep.com.vn) In Quang Ngai Province, shrimp farming costs are rising sharply due to लगातार increases in feed, fuel, and input material prices, while farm-gate shrimp prices are declining. This has significantly reduced farmers’ profit margins and increased production risks.
(seafood.vasep.com.vn) Vietnam’s tilapia exports are experiencing impressive growth, reflecting expanding global demand as well as the sector’s development potential. However, behind the strong growth figures lie limitations in production capacity and supply chains, highlighting the need for sustainable development in the coming period.
(seafood.vasep.com.vn) Vietnam’s pangasius exports to the Middle East in 2025 and early 2026 have shown notable growth. However, escalating geopolitical tensions in the region have increasingly impacted export activities since March. This situation presents a challenge of balancing market expansion opportunities with rising trade risks.
(seafood.vasep.com.vn) The Quang Tri Department of Agriculture and Environment has instructed localities to base their stocking schedules on actual conditions in each farming area, while developing plans, allocating resources, and implementing synchronized measures for disease prevention and disaster risk management in aquaculture production.
(seafood.vasep.com.vn) In the first two months of 2026, Vietnam’s exports of fish cakes and surimi exceeded USD 45 million, up 7% compared to the same period in 2025, indicating a positive outlook for this product segment amid recovering demand in many markets.
(seafood.vasep.com.vn) During the week from April 4th to 10th, 2026, Quang Ngai province intensified its monitoring and law enforcement activities with the determination to eliminate illegal, unreported, and unregulated (IUU) fishing practices.
(seafood.vasep.com.vn) Thanh Hoa’s shrimp sector is undergoing a strong transformation by accelerating the adoption of high technology, helping to improve productivity, increase profits, and meet market demands. The province currently has about 4,100 hectares of shrimp farming, with output continuing to rise despite stable farming area, mainly due to the shift from traditional methods to intensive and super-intensive farming.
(vasep.com.vn) Amid ongoing volatility in global seafood trade, Vietnam’s crab exports have made a fairly positive start to 2026. According to Vietnam Customs statistics, export turnover in the first two months of 2026 reached nearly USD 55 million, up 24% compared to the same period in 2025 and more than 2.2 times higher than in the same period of 2024. This indicates that crab exports are entering 2026 with stronger growth momentum, particularly in Asian markets.
(seafood.vasep.com.vn) Da Nang City has fully implemented all recommendations from the European Commission (EC) regarding the fight against illegal, unreported and unregulated (IUU) fishing, creating an important foundation for the removal of the “yellow card” in the near future.
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