The market is currently vibrant, with shrimp factories ramping up purchasing and processing to boost export sales. At Vietnam Clean Seafood Corporation (VINA CLEANFOOD), crispy fried shrimp are being prepared for export to Europe. The company aims to achieve sales of $110 million, a 20% increase from 2023, by enhancing purchasing efforts, deepening processing capabilities, and diversifying consumption channels.
The factory processes approximately 50 tons of raw shrimp daily and has mobilized over 1,500 workers to accelerate processing in order to meet export demands in the final quarters of the year.
This export boom has positively impacted domestic raw material prices. Many shrimp farmers in the Mekong Delta, like Mr. Long Van Nghia from Vinh Hau A commune in Bac Lieu, are pleased to see selling prices rising daily.
Mr. Pham Van Thieu, Chairman of the Bac Lieu Provincial People's Committee, noted, "The shrimp market is improving, and global purchasing power is recovering. The province has directed factories to strengthen ties with farmers to ensure a steady supply of raw materials for export."
As year-end festivals approach, there is potential for a significant surge in shrimp exports. Tapping into markets with a demand for highly processed shrimp products will help this billion-dollar industry continue to thrive and support Vietnam's seafood export target of $10 billion.
(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.
(seafood.vasep.com.vn) Khánh Hòa province is currently leading the way in implementing Electric Catch Documentation and Traceability System (eCDTs).
(seafood.vasep.com.vn) The European Union, with its stringent quality requirements, has become an attractive destination for the shrimp industry of many countries, including Vietnam. Vietnamese shrimp meeting EU export standards not only increases product value but also solidifies Vietnam's position in the global seafood market.
(seafood.vasep.com.vn) Vietnam's shrimp exports accounted for the highest export value among all seafood products in the first nine months of the year, reaching nearly $2.8 billion, a 10.5% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to the Ben Tre Statistics Department, the province’s aquaculture sector has been relatively stable and has experienced growth recently, particularly due to the high efficiency of intensive shrimp farming models.
(seafood.vasep.com.vn) In the third quarter, several Vietnamese seafood companies announced strong financial results, showcasing resilience and growth in a challenging market.
(seafood.vasep.com.vn) In the first nine months of 2024, the fishery production of Soc Trang province has continued to be stable and develop. The farming area and fishery output have increased compared to the same period last year. The consumption of seafood products has generally been favorable.
(seafood.vasep.com.vn) In the first nine months of 2024, aquaculture in Kien Giang province has shown potential growth, helping to offset the decline in capture fisheries.
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