This was informed by seafood firms attending a review conference on the program to help members of the Vietnam Association of Seafood Exporters and Producers (VASEP) adapt to the economic slowdown this year.
Nguyen Thi Hong Nhanh, HR director of Mekong Fisheries Joint Stock Co., specializing in shrimp exports, said the difficulties in 2012 were caused by input materials, economic gloom in the consumption markets and technical trade barriers in some importing countries. Therefore, the company’s revenue in the year to date has fallen by about 30% compared to the same period last year.
“Next year we will focus on lower-priced products, switching from tiger prawn to white-legged shrimp. The business targets will be equivalent to this year. As for the organizational structure, our management apparatus will be rearranged to make it simpler and maintain a workforce of over 1,000 employees,” she said.
Lam Ngoc Hai, deputy director of Saigon-Mekong Fishery Co., with tra fish being its specialized item, said he had attended a counseling program for management system reform of seafood enterprises held by VASEP and the Danish Embassy.
In the coming time, the company will map out a long-term business strategy with specific objectives and plans for each year instead of the current short-term strategy. “If we had received guidelines for business organization sooner, then our business performance this year would have been much better,” he said.
Recently, raw tra fish prices have been dropping. Hai ascribed this situation to the increase in the number of industry players.
“At current prices, most enterprises make low profits or break even. Some even incur losses but still have to sell their products,” he said.
Therefore, Saigon-Mekong revenue has declined year-on-year and is still 5% off target.
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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