Tien Giang possesses many advantages and competitiveness in pangasius export. Tien Giang-based large pangasius companies are equipped with modern technologies which helped them to meet quality requirements to export products to the U.S. and the EU markets.
Pangasius is currently a source of high quality food with reasonable price and a large range of over 100 consumer markets. The fish brings back to Tien Giang huge annual revenue, creating jobs for many local workers and fish farmers.
In 2012, seafood sales abroad reached US$450 million, accounting for nearly half of the province’s total earnings from exports. 80 percent of which were from pangasius products. Between January and June 2013, Tien Giang exported seafood, mainly pangasius products, to generate more than US$145 million of value.
Leading pangasius companies in the province have been investing into a more-closed production chain, including fingerling production, large-scale fish farming, feed mills and fish processing plants.
Hung Vuong Corporation, the second largest pangasius exporter of Vietnam, has further invested in fish farms since 2010 when the company saw signs of short supply of raw fish for processing. So far, it owns a farming area of 250 hectares of water surface and other 100 hectares in cooperation with local fish farmers. As a result, Hung Vuong Corp can supply 70 percent of its needs of raw material for processing plants. With strengths in products’ quality and markets, the company targets to reach an export value of US$200 million each year.
In 2013, Godaco Seafood Joint Stock Company (Godaco) planned to export 20,000 MT of seafood of all products and varieties to gain US$40 million of revenue, leading to VND1,000 billion of total turnover and VND100 billion of profits. In addition, the firm continues to run its new projects such as establishing cold stores of 5,000 MT, fishmeal processing plants with capacity of 10 MT per hour, fish processing with capacity of 150 MT of raw material per day. Godaco also pour money to expand overall farming area to 180 hectares. These projects cost VND400 billion totally.
According to Deputy Director of Tien Giang Department of Industry and Trade, local companies should focus on exploring the potentials of their processing facilities, improving the quality of fish fingerlings to boost production, as well as building up their own fish farms.
To solve difficulties due to quiet demand from international markets, these companies need restructurings in their finance and export markets to keep their business and consumer markets for their products.
(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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