Zhejiang Ocean Family, which reported revenues of CNY 2.65 billion ($384.5m) in 2016, last week played host to Truong Thi Le Khanh, chairperson of Vinh Hoan, Vietnam’s largest pangasius producer. The two sides discussed the pangasius market, import and exports, their companies’ strengths and pangasius products, said Ocean Family on its website. The firm also added that the two companies “wholly look forward to cooperating in formal pangasius business and trade”.
Vinh Hoan’s visit to Ocean Family follows on the heels of a visit by Japan’s Mitsubishi corporation. General manager Zeng Yuexiang inspected Ocean Family’s “super freezer” tuna processing plant in the free-trade port area of Beilun, Zhejiang Province, east China, according to Ocean Family. Ocean Family has 100,000t of annual tuna processing capacity between its Beilun plant and a canned tuna and freeze-dried food processing facility in Xikou, also in Zhejiang. Ocean Family also appears to collaborate with other international partners, including Pescanova, importing Argentine cold shrimp into China, and Cermaq, importing salmon.
Ocean Family is a large fishing company in its own right. Its fleet consists of 18 super freezer long-line tuna fishing vessels; 4 large-scale tuna purse seiner vessels; and 9 squid fishing vessels, according to its website. Its annual catching of tuna and squids ranges from 40,000t to 50,000t. Last year Ocean Family generated $205 million in foreign exchange through exports, it said. Zhejiang Ocean Family is majority-owned by Chinese auto parts maker and manufacturing conglomerate Wanxiang Group, which is referred to as a “dragon enterprise”.
Source: Undercurrentnews
(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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