Hiking fish price is good news for both farmers and processors. With higher fish price, farmers can reduce their losses and invest to restock while processors can ensure raw fish source for processing and exporting, Mr. Mai Dang Hoa-General Director of Sai Gon-Mekong Fishery Company (SAMEFICO) said. He added that this year is a tough year for enterprises because they have to face lack of capital and raw material; decreasing export price and the reduction in the number of importing markets.
To overcome the above difficulties, SAMEFICO reduced the price of its products, cut unnecessary expenses in manufacturing, boosted processing high-grade quality products to increase its competitiveness, remain its reputation in the eye of importers and global consumers.
In the first 6 months of 2012, seafood export revenue of the company gained more than US$9 million and it is expected to reach US$20 million in 2012, up 20 percent from 2011. Its production capacity is 60 - 70 MT per day and is expected to expand in the upcoming time.
Amid current hardship, each enterprise must be flexible to find solutions for survival and development. Godaco Seafood Joint Stock Company (Godaco) invested over VND500 billion in building pangasius farming area of 120 hectares, providing the production of 25,000 MT per year, meeting over 90 percent of processing demand of the factory.
With stable supply of raw material, Godaco holds initiative in signing contracts, fixing export price and delivery time of products, General Director of Godaco, Nguyen Van Dao said.
In the first half of 2012, Godaco exported over US$20 million, completing 50 percent of yearly plan. The company is likely to exceed seafood export target of US$40 million in 2012 because seafood exports often grow positively in the last months of the year.
(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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