<p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: "Arial","sans-serif"; font-size: 10pt">This is a great chance for Quoc Viet to speed up exporting its shrimp products to the U.S. market, according to the company’s General Director Ngo Van Nga. In 2011, Ca Mau-based firm exported mainly to Australia, the EU and Japan. In January 2012, the U.S. is targeted to represent a proportion of 30 percent of its total export revenue.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: "Arial","sans-serif"; font-size: 10pt">Currently, demand for large shrimp is high in the U.S. market, but processors are suffering from low supply of raw material in Mekong Delta because this region has not come into harvest season and farmers hesitate to stock seeds.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: "Arial","sans-serif"; font-size: 10pt">In the first month of 2012, Quoc Viet reached US$6.5 million of shrimp exports, a rise of 15 percent from a year ago. In February, the company expected to gain revenue of about US$10 million, much higher than that of the previous month.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: "Arial","sans-serif"; font-size: 10pt">So far, Quoc Viet’s shrimp exports to the EU remains stable, but export prices of shrimp to other importing markets tend to lower.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: "Arial","sans-serif"; font-size: 10pt">In 2011, Quoc Viet was the second largest shrimp exporter in Vietnam, after Minh Phu Seafood Corp. It was also listed in the country’s top 4 seafood exporters. With the new chance in the U.S. market, it hopes to reach higher position in the top seafood export companies of Vietnam this year.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: "Arial","sans-serif"; font-size: 10pt">Website: www.quocviet.vn<o:p></o:p></span></p>
(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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