Sao Ta Foods (FMC) Revenue in the first 2 months of the year grew positively
09:31 03/14/2024

(seafood.vasep.com.vn) Brazil has officially stopped importing tilapia products from Vietnam since 14 Feb 2024, according to Decision No. 270 dated 09/02/2024 by the Secretariat of Animal and Plant Health and Inspection, Ministry of Agriculture and Food Supply (MAPA). This decision does not affect Vietnamese businesses too much. However, this can be seen as an initial barrier for Vietnamese tilapia products, and could lead to other seafood products in the Brazilian market.

(seafood.vasep.com.vn) Entering 2024, Vinh Hoan Corp showed signs of improvement right from the beginning of the year when it reached a revenue of 921 billion VND, an increase of 102% over the same period last year. Vinh Hoan Joint Stock Company (MCCK: VHC) has just announced its business results for January 2024, with revenue reaching 921 billion VND, an increase of 102% over the same period last year and an increase of 13% compared to December 2023. This is also the highest result in the past 8 months.

(seafood.vasep.com.vn) On the afternoon of February 26, 2024, most stock trading codes of pangasius exporting enterprises increased to the ceiling (purple code, up 7% of frame rate), and at the end of the session, they adjusted to decrease slightly (+6.9–6.95%). The group of seafood stocks on the afternoon of February 26, 2024, became the focus of the market when a series of stocks increased at full amplitude, such as VHC, ANV, and ASM, and a series of other stocks also increased very well. This good news is considered a positive signal after Vietnam's pangasius export turnover to markets recorded record positive growth over the same period.

(seafood.vasep.com.vn) China and Hong Kong were Vietnam's third-largest cephalopod import markets in 2023, accounting for 10%. Vietnam's cephalopod exports to China and Hong Kong in 2023 reached 77 million USD, down 6% over the same period.

(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Chile is one of the few tuna export markets of Vietnam that maintained good growth in 2023. Tuna export turnover to this market in 2023 reached nearly 16 million USD, an increase of 87%.

(seafood.vasep.com.vn) Growmax Corporation will invest in a shrimp farming complex, feed mill, shrimp seed production, export... in Dong Hai district, Bac Lieu province.

(seafood.vasep.com.vn) In 2023, tuna exports to the Middle East were unstable, and tended to decrease compared to 2022. According to statistics of Vietnam Customs, Vietnam's tuna exports to this market decreased by 130% in 2023, reaching 82 million USD.

(seafood.vasep.com.vn) After the Lunar New Year, commercial pangasius production increased, prices increased. Many farmers take advantage of harvesting farming ponds to sell for high profits.

(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) plans to continue to strengthen the development of the Japanese market, maintain existing markets, and focus on learning step by step to penetrate the Chinese market based on promoting your strengths in 2024.

(seafood.vasep.com.vn) Vietnam tilapia exports in 2023 reached more than 6 million USD, down 42% compared to 2022.

(seafood.vasep.com.vn) In 2023, Vietnam's exports of shell mollusk products reached 127 million USD, down 12%. Vietnam's main exported shell mollusks include clams, accounting for 62% of export value, snails, accounting for 12%, oysters, accounting for 11%, and scallops, accounting for nearly 9%. In addition, some species with modest export value includes oysters, baby clams, abalone, and mussels.

The Ministry of Agriculture and Rural Development (MARD) has set a target to produce some 500,000 tonnes of seaweed by 2030 as part of the nation’s seafood development strategy.

C.P. Vietnam Livestock JSC said that it has cooperated with more than 2,500 livestock and aquatic farms across Vietnam.

More challenges are expected for Vietnam’s aquaculture exports in 2024, according to Tran Dinh Luan, General Director of the Department of Fisheries under the Ministry of Agriculture and Rural Development.

Despite its availability in over 150 countries, Vietnam's shrimp industry is grappling with fierce competition from global counterparts, prompting the proactive application of technology and strategic planning as the sector is making endeavors to carve out its unique path forward.