According to Mr. Nguyen Hoang Nha, Deputy General Director of UT XI Aquatic Products Processing Corporation, in order to meet the demand of ASC certified shrimp in the market, the agency and Toan Thang cooperative have cooperated to set up the sustainable shrimp farming, processing and exporting chain. As consumers not only require high quality products, packaging and eye-catching designs but also products with clear traceability, clean products and having environmental and social impacts.
In fact, BAP certification (in the U.S) and ASC (in the European market) are the two certificates that consumers worldwide recognized; especially ASC certification. Therefore, if linking the ASC shrimp production chain signed between the agency and the cooperative is successful, it will helps farmers to consume more shrimp after harvesting.
In addition to signing the contract, the agency is committed to supporting the full cost of certification under the ASC standard for all cooperative members and purchasing shrimp at higher prices of VND2,500 per kg as well as cash assistance for the cooperative with VND 100 million per year to maintain the certification.
"The signing between UT XI Aquatic Products Processing Corporation and Toan Thang Cooperative is a big turning point in the chain of producing quality shrimp for exports to challenging markets, and it will help shrimp farmers increase profits on the same farming area. In this way, we suggest that members of the two parties sign the contract to fulfill the contractual commitments so that the cooperation can be sustainable", said Deputy Director of the Fisheries Sub-Department, Ms. Quach Thi Thanh Binh.
(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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