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

(seafood.vasep.com.vn) By the end of 2023, Vietnam's shrimp exports reached 3.4 billion USD, down 21% compared to 2022. The decrease in export figures reflects a year of challenges for Vietnam's shrimp industry.

(seafood.vasep.com.vn) As of November 2023, Vietnamese shrimp exports to China and Hong Kong reached 569 million USD, down a proportion of 8% over the same period last year

(seafood.vasep.com.vn) Agro-forestry-fishery export turnover in 2023 is estimated to reach over 53 billion USD, of which shrimp exports are about 3.6 billion USD.

(seafood.vasep.com.vn)According to data from Vietnam Customs, pangasius exports in October 2023 to markets reached nearly 173 million USD, down 4% over the same period last year.

(seafood.vasep.com.vn) Sao Ta Food JSC (FMC), Vietnam's leading shrimp exporter, predicts that shrimp export will breakthrough in the fourth quarter of 2023. Shrimp consumption of this company in October 2023 increased by 11% over the same period.

(seafood.vasep.com.vn) According to data from Vietnam Customs, as of October 15, 2023, Vietnam's shrimp exports to Japan reached 388 million USD, down 28% over the same period last year.

(seafood.vasep.com.vn) In the first 9 months of 2023, Vietnam’s shrimp exports to China & Hong Kong reached 454 million USD, down 6%. In QIII/2023 alone, shrimp exports to this market reached more than 173 million USD, up 15% over the same period. In QI and QII, exports to this market decreased by 31% and 8% respectively compared to the same period last year.

(seafood.vasep.com.vn) In September 2023, Vietnam's shrimp exports reached US$322 million, down 8% over the same period last year. Although negative growth has not yet escaped, the decrease has gradually narrowed month by month. Accumulated in the first 9 months of this year, shrimp exports reached US$2.5 billion, down 26% over the same period.

(seafood.vasep.com.vn) In the first 8 months of this year, Vietnam's lobster exports to China reached 76 million USD, down 42% compared to the same period in 2022. To date, China is still the largest import market of Vietnamese lobster.

(seafood.vasep.com.vn) In August 2023, Vietnam's shrimp exports reached 337 million USD, down 15% over the same period last year. Accumulated in the first 8 months of the year, shrimp exports reached 2.2 billion USD, down 28% over the same period.

(seafood.vasep.com.vn) Sao Ta Fooods, Vietnam's leading shrimp exporter, is poised for a breakthrough in the final months of this year, capitalizing on its substantial inventory and surging market demand for refined goods.

(seafood.vasep.com.vn) The US is always in the top 4 largest export markets for Vietnamese shrimp. In the last 3 years (2020-2022), the US has held the No. 1 position with Vietnamese shrimp import value reaching from 800 million USD - over 1 billion USD, accounting for 23% of the total shrimp export value.

According to Ms. Nguyen Thi Thanh Binh, Vietnam Coordinator, Minh Phu Seafood Corp and Stapimex are two leading shrimp companies in investing in certification of new farms according to the certification programs of the Global Seafood Alliance. demand (GSA) in the past 12 months.

(seafood. vasep.com.vn) In July 2023, Vietnam's shrimp exports reached more than US$320 million, down 16% compared to the same period last year. The 16% drop in July was the lowest since the start of the year. By July 2023, shrimp exports reached US$1.9 billion, down 30% over the same period.

(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam's shrimp exports to China & HK in the first half of this year reached US$280 million, down 16% over the same period. June is the first month since the beginning of this year Vietnam's shrimp exports to China & HK recorded an increase over the same period last year, up 16% to US$67 million. Since March of this year, the monthly rate of decline has also narrowed.


  • SPECIALIST ON SHRIMP MARKET

Ms Kim Thu

Email: kimthu@vasep.com.vn

Tel: 84.24.3771.5055 (ext 203)

  • Vinh Hoan
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