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Seafood exporters are seeing orders plummet and facing even greater difficulties than during the Covid-19 pandemic. In the first five months of this year their exports fell by 28% to $3.37 billion and companies saw a decline of 20-50% in export orders,…
King crabs have risen to their highest prices ever of VND2.5-3 million (US$106-128) a kilogram, following a 30% increase since the end of last year. Loan of HCMC’s District 5 tried to buy a king crab for her son’s birthday last week, but was shocked when she…
Seafood exports to most major markets have fallen by 17-50% this year. According to the Vietnam General Department of Customs, shipments to the U.S. fell by more than 50% year-on-year to US$284 million. Exports to Australia were down 30% to $65 million.…
Aldi has overtaken Sainsbury’s as the most sustainable supermarket for seafood, according to MSC league tables released today. Though Sainsbury’s remained top of the NGO’s table in terms of the volume of MSC-certified products, the percentage of Aldi’s…
Vietnam expects to rake in between 800,000 to $1 billion worth of sea culture product exports by 2025, according to a development project of the sector towards 2030 with a vision to 2045. Also by the time, the total area of sea culture is set to hit 280,000…
Vietnam spent US$65 million importing Canadian seafood, mainly lobsters and snow cabs last year, doubling 2021 imports and trebling 2020. Among Southeast Asian countries, Vietnam was Canadian’s biggest seafood importer, Steve Craig, Minister of the Department…
Minh Phu Seafood Corp., a leading shrimp exporter, reported consolidated after-tax profits of nearly VND840 billion (US$35.6 million) last year, up 27% from 2021 and its highest since 2015. Its revenues rose by 20% to VND16.43 trillion. According to the…
Vietnamese garment and seafood exports to Canada have surged 50% year-on-year, totaling values of $1.1 billion and $334 million, respectively. As the two categories saw the most significant increases in exports to Canada of the last three years, other…
Vietnam’s seafood exports this year could reach $11 billion for the first time, spearheaded by shrimp, pangasius and tuna, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Truong Dinh Hoe, VASEP general secretary, said at a…
Vietnam’s tra fish exports to Southeast Asia exceeded US$152 million in the first nine months of this year, a year-on-year increase of over 83%. Higher transport costs due to rising fuel prices caused exporters to opt for closer destinations, the Vietnam…
Rising global inflation caused sales of two major seafood exporters Vinh Hoan and Sao Ta to plunge as consumers in their main markets tighten spending. Vinh Hoan, a pangasius export giant, saw September revenue plunging 28% from August to VND917 billion…
Vietnam’s seafood exports to the U.S. rose 22% year-on-year to $1.8 billion in the first nine months as Americans remain the biggest buyers of Vietnamese seafood. Exports to China surged 76% to $1.35 billion, while to the EU the value went up 41% to $1…
Vietnam’s seafood exports have been slowing down since July as inflation takes a toll on consumption in the U.S., E.U. and U.K. Exports to the U.S. declined by 30.5% year-on-year in July after inflation in that country hit a 41-year high the previous month,…
Major listed seafood exporter Minh Phu Seafood JSC is set to issue bonus shares at a ratio of 1:1. It is expected to be done this year by capitalizing reserves, and will double the company’s charter capital to VND4 trillion (US$170.9 million). Minh Phu also…
Vietnam crab exports rose 41% to $111 million between Jan. 1 and July 15 this year, according to data from the Vietnam Association of Seafood Exporters and Producers (VASEP). The U.S, China, Japan and France were the four major markets accounting for 92% of…
Chinese authorities will no longer penalize Vietnamese seafood exporters with a temporary ban if their containers are found contaminated with Covid-19, that country’s embassy in Hanoi has said. Exporters used to face a seven-day ban for every container of…
