The minister requested localities and businesses to promptly implement the plans for the shrimp sector in 2019, while strengthening connections in shrimp value chain, considering it as the key to reduce cost and improve quality and value.
He stressed the need to control the quality of the value chain from breeding shrimp, feed, environmental treatment products to production and processing stages to meet the demand of domestic and foreign markets, enhancing the competitiveness of Vietnamese shrimps.
Businesses should pay greater attention to processing, optimising the capacity of existing factories to create products with high added value, while continuing expanding shrimp markets, he said.
He asked agencies of the ministry to continue coordinating closely together in supporting the sustainable development of the sector.
He assigned the Directorate of Fisheries to summarise the opinions and recommendations of businesses for deploying timely solutions. The Department of Agro-Product Processing and Market Development was asked to seek more markets for shrimps, especially finding ways to boost official export of shrimp to the Chinese market.
According to the MARD, in 2018, shrimp production fetched 762,000 tonnes, up 6.3 percent over 2017, ensuring materials for export processing.
In 2019, the sector is predicted to face a drop in export due to slower demand and unfavourable weather conditions that affect the production, as well as the US-China trade tension.
However, experts held that the sector would overcome difficulties in the year thanks to the determination of the political system and the effectiveness of signed free trade agreements.
VNA
(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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