Sao Ta Food said that in July 2023, finished shrimp production reached 2,338 tons, up 9% over the same period last year; production of finished agricultural products reached 66 tons, down 46% over the same period; finished shrimp consumption reached 1,953 tons, up 19% over the same period last year; Consumption of finished agricultural products reached 187 tons, down 11% over the same period.
Regarding the situation of shrimp farming, a business representative said that in mid-July, the new area had been stocked; and is stocking the second crop in the old area, and is expected to complete the stocking on August 5.
Sao Ta Food is currently one of the largest shrimp processing and exporting enterprises in Vietnam. Since the end of last year, seafood enterprises in general have faced many difficulties in production and export due to high inventories in key export markets, economic difficulties causing a sharp drop in consumption demand.
In addition, the disease status on breeding stock and the high price of animal feed also negatively affect the business activities of seafood processors and exporters.
Sao Ta Food is currently one of the largest shrimp processing and exporting enterprises in Vietnam.
In particular, shrimp is considered as an export seafood product that is most affected by the decline in global demand as shrimp is considered a premium protein food and consumers tend to reduce high-end consumption due to lower income.
However, at the end of July, Dr. Ho Quoc Luc - Chairman of Sao Ta Food's Board of Directors said that business activities began to show positive signs when the revenue decline compared to the high base level of last year is gradually narrowing.
At the same time, the domestic price of commercial shrimp may have bottomed out; In addition, world shrimp prices have also fallen to a level beyond the tolerance of farming households in all major shrimp producing countries. This is considered a supportive factor for shrimp exports to recover in the coming time.
Compiled by Thuy Linh
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's crab export value in March 2024 reached more than 18 million USD, an increase of 66% over the same period last year. Cumulatively, in the first 3 months of the year, export turnover reached more than 52 million USD, up 75% over the same period.
Vietnam's pangasius exports to Brazil reached nearly USD 28 million in the first quarter of 2024, surging by 44% compared to the same period in 2023.
(vasep.com.vn) According to Vinh Long Statistics Department, the whole province currently has 2,119 hectares of aquaculture area, an increase of 1.03% (equivalent to an increase of 21.62 hectares) over the same period last year; Of which the industrial pangasius farming area is 370.8 hectares, an increase of 0.12% or an increase of 0.42 hectares.
(seafood.vasep.com.vn) 2023 was an unsuccessful year not only for Vietnamese but also for Thailand tuna exporters in the Middle East market. Thailand's tuna exports to this market decreased by 21% in value and 27% in volume compared to 2022. Therefore, the Middle East dropped to second position among Thailand's export markets after the US, accounting for 22% of total export turnover in 2023.
Competent ministries, sectors and localities should continue efforts to lift the European Commission’s “yellow card” against the Vietnamese seafood products for illegal, unreported and unregulated (IUU) fishing, as an inspection team of the commission will visit Vietnam soon, Minister of Agriculture and Rural Development Le Minh Hoan.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
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