The issue has been in the public eye since a recent Oceana study found a predominant amount of seafood consumed in the United States is incorrectly labeled to pass off a cheaper species as a more expensive one.
Three panels of experts, including a former prosecutor, all talked about how serious a problem mislabeling is. Robert Chandler, senior buyer and plant manger for Steve Connolly Seafood in Boston, said mislabeling hurts the entire industry.
“It’s full-on fraud, and what it really creates is a mistrust of the product itself,” he says.
In his company, he takes charge of the problem by keeping an eye on what comes through his doors. Whenever possible, he buys whole fish, or fillets with the skin on. That way, he says, it’s easier for him and his employees to spot the wrong fish.
“It’s tough (for suppliers) to pull off a Houdini,” he says.
Lee French, VP-seafood marketing at Price Chopper, said his supermarket chain demands suppliers use a private company to document the authenticity of their products. If they don’t, he said, Price Chopper won’t take their products. French said other retailers could learn from this example, and prompt real change.
“The retailers can make this happen,” he says.
Marcus Asner, a former prosecutor who now works as a private attorney, says his job is easier when he can show an imminent and serious problem, using terms such as “fraud,” “theft” and “poaching.” Using those terms can help garner public support.
“Call it crime when it’s a crime,” he says. “’Mislabeling isn’t sexy.”
(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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