The province owns some key factors to boost economy such as high potentials in fish farming and catching activities, the existing processing chain and trading and logistic services. Soc Trang ranks the 15th among 28 coastal provinces in Vietnam and the 4th in Mekong Delta in terms of fishing activities. It sets a plan to further investments in the marine fish sector to tap its owns potentials in 2014 and the coming years.
To reach the target, a focus is put on off-shore fishing activities with an aim to exploit fish stock as well as ensure the marine conservation. Soc Trang is also launching policies to support fishermen in upgrading their off-shore fishing boats.
In 2013, Soc Trang's marine catches were more than 56,000 MT, bringing back high profits for local fishermen and enhancing the province's processing and trading activities and logistic services.
So far, Soc Trang has had 278 fishing boats with capacity of more than 90 CV. The number will increase to 320 off-shore fishing boats by 2015 and to 370 ones by 2020. In which, boats with capacity of equal or more than 250 CV take a major part.
Soc Trang has recently set a proposed plan to offer loans with preferential interest rate to fishermen to help them upgrade or build new off-shore fishing and transport boats. This measure is hoped to cut fishing trips' cost and improve the quality of raw material for processing. This is a good news for Soc Trang-resided fishermen, especially when they are facing many difficulties due to low output of nearshore fishing and declining wild fish stocks.
(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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