"With stringent control of disease and innovation in shrimp hatcheries, output should increase next year. Shrimp production should be back to normal by the second quarter. Shrimp exports should also rise, thanks to more supply and stronger demand from importing countries including the US, EU and Japan," Somsak Praneetatyasai, president of the Thai Shrimp Association, said yesterday.
The association forecasts total domestic production expanding by 20 per cent to 300,000-320,000 tonnes next year after this year's output plunged by 54 per cent to only 250,000 tonnes due to the spread of early mortality syndrome in shrimp hatcheries.
The association projects exports jumping by 20 per cent to 240,000 tonnes worth Bt70 billion next year.
In the first 10 months of this year, shrimp exports plummeted by 38.4 per cent in volume to 175, 713 tonnes, and by 28.89 per cent in value to Bt56.27 billion, as supply was severely crimped. It is estimated that shrimp exports would reach 200,000 tonnes by the end of this year.
The value of shrimp exports has not dropped a much as volume because the price of shrimp has zoomed up following lower supply in the world market, which is mainly provided by
About 50-70 shrimp hatcheries have suspended operations, but farmers still maintained some hatcheries to raise shrimp due to the higher return.
For instance, the price of a kilogram of 70 shrimp is quoted at Bt270 this year, compared with last year's less than Bt180-Bt190 a kilo.
Due to lower shrimp production,
Shrimp farmers nationwide have learned to develop their shrimp raising, starting from the nursery, to be bio-secure, as well as to increase efficiency in farming management to prevent disease.
However, the national association and regional shrimp producers associations are worried about the Fishery Department's plan to import shrimp from
The association has already sent a letter to the department asking it to limit the period for shrimp imports, which is set at a maximum of 20,000 a month.
It said that if there is any allowance for shrimp imports, the government should ensure sanitary standards.
The import of shrimp should be only for three months from January-March, as domestic output is expected to improve in April.
Banjonk Nissapawanich, president of the Shrimp Farmers of the East Association, said farmers in the region were small producers and accounted for 30 per cent of total production in the country. The outbreak this year has caused problems for farmers, but with the higher price, the industry was not seriously damaged.
(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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