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.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
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
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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
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
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