Recently, FIMEX VN announced its sales figures for August 2024. The company reported a revenue of USD 30.38 million for the month, marking an increase of nearly 36% compared to the same period last year.
In August, the production of processed shrimp reached 3,450 tons, a 74% increase year-on-year. This growth was attributed to several contracts signed with customers, necessitating increased processing to meet delivery deadlines. The sales volume of processed shrimp totaled 2,726 tons, up 36% compared to August 2023.
Meanwhile, the production of finished agricultural products decreased by 42% year-on-year to 44 tons. However, sales of agricultural products reached 116 tons, up 37% compared to the same period last year.
For the first eight months of 2024, FIMEX VN's total sales are estimated at USD 156.6 million. The company has set a sales target of USD 210 million for the year, having achieved 75% of this target by the end of August.
FIMEX VN also noted that by the end of August, its farms had completed the shrimp harvest and are now preparing ponds for the next farming season, which will commence when weather conditions improve.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in July 2024, exports of all major seafood products experienced significant growth. Notably, shrimp exports grew by 11%, marking the highest growth rate in the past seven months.
Shrimp exports to China and the EU increased by 24% and 32%, respectively, while exports to the U.S. rose by 9%, and to Japan by 4%. However, exports to South Korea dropped by 21%.
In total, shrimp exports for the first seven months of 2024 reached nearly USD 2 billion, up 7% year-on-year. Whiteleg shrimp exports accounted for USD 1.45 billion, up 4%, while black tiger shrimp exports totaled USD 246 million, down 10%. Lobster exports, on the other hand, nearly tripled, reaching USD 145 million.
Stock Price Movements of FMC
According to the 2023 annual report, FIMEX VN’s Chairman of the Board, Ho Quoc Luc, observed that in 2023, Vietnam’s shrimp industry faced significant risks due to economic recessions in major markets like the U.S. and Europe, persistently high inflation, and declining consumer demand. Additionally, fierce competition from Vietnam’s main shrimp rivals, Ecuador and India, added to the challenges.
Although Japan, FMC’s largest market, did not experience the soaring inflation seen in Western countries, it was still affected by weak purchasing power and consistently rising exchange rates.
Looking ahead to 2024, FIMEX VN anticipates that challenges in the shrimp industry will persist for at least the first six months of the year, potentially with even greater scale and impact compared to 2023. Specifically, tensions in the Red Sea could directly affect shrimp exports to the U.S. and Europe, while anti-dumping and countervailing duty lawsuits in the U.S. may reduce profits and weaken the competitiveness of Vietnam's shrimp businesses.
(seafood.vasep.com.vn) Sao Ta (FMC - HoSE), a key subsidiary of PAN Group, has announced impressive business results for February. The company's shrimp production reached 1,913 tons, a 106% increase compared to the same period last year, while agricultural product production reached 67 tons, up 6%.
(seafood.vasep.com.vn) The tuna export market of Vietnam in the first month of 2025 has seen notable fluctuations. Exports to most major markets have decreased compared to the same period in 2024.
The Seafood Expo Global is the largest seafood industry event in the world, truly becoming a professional playground and a strong foundation for connecting the international seafood community. The Seafood Expo Global (SEG) 2025 will take place from May 6 to May 8, 2025 in Barcelona, promising to be an important platform for the global seafood community to meet, trade, and seek business opportunities in seafood industry.
(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
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
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
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