Toan Dao has written about Vietnam’s business community, with a focus on energy and agriculture, for a number of Vietnamese and international outlets for more than 10 years. As a contributing editor for SeafoodSource in Southeast Asia, he also covers other major seafood producers in the region including Indonesia and Thailand.
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Samut Sakhon, Thailand-based seafood producer Thai Union reported a year-over-year rise in profits in the first quarter of 2024, with the company attributing the spike to demand recovery across its core product categories, according to its latest results report released 8 May.
The company’s Q1 2024 net profits rose to nearly THB 1.2 billion (USD 31.2 million, EUR 29 million), up 12.9 percent year over year. When compared to Q1
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China’s Yuehai Feeds Group has begun work on the first phase of a new aquaculture feed mill in southern Vietnam.
The plant will be located on a 5-hectare plot in Vinh Long Province along the Mekong Delta, a hub of aquaculture production in Vietnam.
The facility will cost VND 500 billion (USD 19.8 million, EUR 18.4 million) to complete, according to a 26 April statement issued by the project’s main contractor: the Sonadezi
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The U.S. Department of Commerce (DOC) has announced an increase in antidumping duties for five pangasius exporters from Vietnam, following a period review spanning from 1 August 2021 to 31 July 2022.
In its final decision, published in the Federal Register on 14 March 2024, the DOC maintained a zero duty issuance for Vinh Hoan, consistent with its preliminary findings, released in September 2023.
However, Can Tho Import-Export Seafood Joint
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International food and beverage manufacturing company Thai Union posted a loss of THB 17.2 billion (USD 477.5 million, EUR 442.9 million) in the fourth quarter of 2023, culminating in the write-off of its investment in the Red Lobster seafood restaurant chain, according to the company’s latest results report.
Thai Union originally upped its investment in Red Lobster in 2020, taking a larger stake in the chain as part of a consortium
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Vietnam has high expectations for growing its global seafood exports in 2024, despite huge potential obstacles.
The Southeast Asian country expects to earn USD 9.5 billion (EUR 8.7 billion) from seafood exports in 2024, including USD 4 billion (EUR 3.7 billion) from shrimp exports, USD 1.9 billion (EUR 1.7 billion) from pangasius sales, and USD 3.6 billion (EUR 3.3 billion) from other seafood products.
According to the Vietnam Association of
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Vietnamese shrimp exports to the U.S. declined in 2023, with challenges for Vietnamese exporters set to intensify further in 2024 due to an ongoing investigation by the U.S. Department of Commerce (DOC) and the implementation of enhanced domestic protection measures pushed by the U.S. shrimp industry.
Shrimp exports to the U.S., Vietnam's top shrimp buyer, totaled USD 589 million (EUR 529.3 million) in the first 10 months of 2023, down 20
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Vietnamese exporters of tropical rock lobster have had to temporarily halt their shipments to China due to new regulations pertaining to the protection of endangered species.
During a recent meeting with Vietnam’s National Authority for Agro-Forestry-Fishery Quality, Processing, and Market Development, Chinese customs officials said that wild tropical rock lobsters were a new addition to the list of endangered species declared by Chinese
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Many Vietnamese pangasius and shrimp exporters endured a challenging Q3 2023, as they struggled with falling sales by value and lower profits due to weak global demand.
Between July and September 2023, Vietnam shipped seafood globally worth USD 2.5 billion (EUR 2.3 billion) – a 12 percent year-over-year decrease. In the first nine months of 2023, the country’s total seafood export value slid 23 percent year over year, hitting USD 6.6
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