Building up links in production chain
During the tough economic time, building up links among stakeholders in the industry is the best way to help fish producers in Mekong Delta avoid business losses, said Nguyen Minh Thanh, Deputy Head of Can Tho Department of Agriculture and Rural Development.
Can Tho city totaled 818 hectares for pangasius farming, in which 13 local companies owned 192 hectares, 5 cooperatives and a group of farmers with 140 hectares, 15 farming households having supply contracts with processors (35 hectares), and 182 other individual farmers (414 hectares).
“Exported pangasius products made up a major part in Vietnam’s seafood export value. A downtrend in exports affects livelihood of farmers, workers, processors and exporters in the industry,” said Vo Dong Duc, General Director of Can Tho Import-Export Joint Stock Company (Caseamex).
Many companies created their own closed production system from pond to table, but this model required a huge amount of capital to invest in fish farms, processing chain and export activities. In the tough economic context, fish companies are suffering doubled losses. Therefore, building links in the pangasius value chain, especially between farmers and processors is the good way for the pangasius industry.
Currently, Vietnam needs more appropriate regulations in order to manage pangasius production and prevent the spontaneous expansion of farms and processing factories. Therefore, it is necessary to timely issue a new decree on pangasius production and exports – a legal base for localities to develop pangasius production.
After 20 years of remarkable development, pangasius production and exports are witnessing tough difficulties. To stabilize and develop Vietnam pangasius industry, it is important to balance the supply and demand of this kind of products.
As pangasius brought back high profits to the industry, many farmers invested in pangasius farming, leading to fish oversupply and huge losses in the industry. Despite this fact, many of them are trying to keep business and wait for profits. If strict regulations are not imposed, it will be hard for authorized agencies to manage superficies for spontaneous fish farms to stabilize prices.
A timely decree on pangasius production and exports is an urgent need. With conditions for organizations and individuals involving in fish cultivation, it is a legal tool to help regulatory agencies restructure the pangasius industry.
(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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