The 2022 seafood export turnover is expected to reach the record of 11 billion USD. Particularly, shrimp export turnover reached 4.3 billion USD, pangasius reached 2.4 billion USD and tuna reached 1 billion USD. This result reflects the effort of businesses in the industry and at the same time shows the international preference for Vietnamese seafood and marine products.
135 million USD is the 2022 expected export revenue of Thuan Phuoc Corporation, an increase of about 35% compared to 2021. However, 2023 will be a challenging year for this company when setting the goal of maintaining the corresponding revenue level.
"Export sales slowed down when importers refused to order due to a serious decrease in the purchasing power in their country," said Tran Van Linh, Chairman of the Board of Directors of Thuan Phuoc Corp, Da Nang.
Leading experts make predictions and discuss solutions for the seafood industry 2023
This tough time will be the time for enterprises to restructure themselves, manage inventory, and invest carefully as the credit capital is limited. Currently, Vietnam's seafood processing industry has a certain position in the world, so enterprises are shifting to occupy high-end market shares to increase profit margins for processed products.
"We are more favorable in capturing the high-end market. In this segment, the profit margin is better, farmers are assured to maintain and expand the farming area. The situation would be worse in 2023, but the export turnover will not be lower than 2022", said Mr. Ho Quoc Luc, Chairman of the Board of Directors of FIMEX VN, Soc Trang.
According to the Ministry of Agriculture and Rural Development, in order to keep the growth momentum, the fishery industry strategy in 2023 will gradually shift from catching and fishing to farming and deep processing to maintain sustainable growth. Importantly, the improved life of farmers and fishermen will contribute to the successful implementation of the fisheries development strategy to 2030 approved by the Prime Minister.
"Sustainable development of seafood is the most fundamental, then doing well in conservation, high-tech processing, adding added value associated with market promotion, following a closed chain, we will have a sustainable development, affirming the achievement of set strategic goals", said Mr Phung Duc Tien, Deputy Minister of Agriculture and Rural Development.
The Ministry of Agriculture and Rural Development also set an aquaculture strategy from now to 2030 is 7 million tons/year. The aquaculture output in 2022 has reached over 4.7 million tons, up nearly 7.2% over the same period while the amount of catch was only 2.8 million tons, a decrease of 2.1%.
Compiled by Thuy Linh
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
(seafood.vasep.com.vn) On December 11, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) was once again honored in the "Top 50 Most Effective Businesses in Vietnam" ranking, compiled annually by the Investment Bridge Magazine. This marks the 11th consecutive year Vinh Hoan has been recognized in this prestigious list.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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