According to Vinh Hoan Corp, the US market is recovering the food service and restaurant industries. This is also the market with the strongest growth with 77%. While exporting to the EU, China recorded a decline before the risk of a re-emergence of the Delta variant Covid-19 epidemic.
Most of Vinh Hoan's revenue comes from exporting raw and processed products. Compared to the same period, the wellness product group including collagen and gelatin decreased by nearly 40% in revenue in June while value-added products increased by 19% but accounted for a negligible proportion of total revenue.
For the Chinese market (excluding Hong Kong), the first half of this year's revenue recorded a 50% increase with revenue of VND 570 billion, equivalent to 14% of export value to the country. outside of Vinh Hoan.
Meanwhile, the EU market group, accounting for 16% of Vinh Hoan's total exports, recorded a decline of 12% in the first half of the year. Total export value to EU reached 648 billion VND.
At the end of June, the US Department of Commerce (DOC) announced the final results of the 16th review (POR16) for Vietnamese pangasius products imported to the US from August 1, 2018 to July 31, 2019. Accordingly, Vinh Hoan and another exporter are entitled to the same anti-dumping tax rate of 0 USD/kg to this market.
Vinh Hoan Corp is the biggest pangasius export company in Vietnam with export turnover of US$235.33 million in 2020.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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