MINH PHU SEAFOOD CORP Acceleration and expectation for year-end orders
22:16 01/12/2022

( To help shrimp exporters and importers grasp the whole picture of Vietnam's shrimp production and exports and its position in the world shrimp industry picture over the past 6 years along with a forecast to 2025, VASEP releases its Industry Report. shrimp 2016-2021 and forecast to 2025.

(seafood. CPTPP is the second largest market for Vietnam's imports after the US, accounting for 25% of Vietnam's total shrimp export value to shrimp markets. As of November this year, Vietnam's shrimp exports to the CPTPP market were estimated at US$905.2 million, down 0.2% over the same period. Vietnam's shrimp exports to the main markets in the CPTPP block tend to recover in the year-end period.

( CP Vietnam and PAN Group have just signed a strategic cooperation agreement, thereby committing to support each other in expanding and developing business activities, exploiting the best potential of the market and strengths in the traditional business field.

( After a sharp decline in August and September this year, Vietnam's shrimp exports in October 2021 reached nearly the same export value of the same period last year with 425.3 million USD, slightly down 1.5%, but compared to September 2021, shrimp exports increased by nearly 38%.

( In order to contribute to ensuring the rights and interests of producers and consumers when using the GI of Ca Mau black tiger shrimp, the Department of Science and Technology of Ca Mau province has just issued the Regulation on control of geographical indications "Ca Mau" for the province's black tiger shrimp.

(seafood. Despite the Covid-19 epidemic, Vietnam's shrimp exports in the last months of 2021 are still on the growth track after a period of stagnation. This has contributed to increasing the price of raw shrimp in the Mekong Delta. By the end of October 2021, Vietnam's shrimp export turnover reached 3.2 billion USD, up 2.6% over the same period last year.

( After slowing down in the third quarter due to the impact of Covid 19, business activities of enterprises in the Mekong Delta, including Minh Phu Corp (MPC), have been active again since October. Minh Phu has started a chain of 3 processing factories. seafood processing plants, including Minh Phat, Minh Quy and Minh Phu with the same capacity of 18,000 tons/year and Quang Minh Packaging Factory with a capacity of 5,000 tons/year.

( EU is Vietnam's second largest shrimp import market, accounting for 15%. Since the beginning of the year, Vietnam's shrimp exports to the EU market have recorded a good growth rate. It is forecast that the EU's shrimp import demand in the last months of this year will continue to increase.

( Korea is Vietnam's fifth largest shrimp import market, accounting for 9.5% of Vietnam's total shrimp export value. Vietnam's shrimp exports to this market, after declining in August due to social distancing to prevent the Covid-19 epidemic, showed signs of recovery in September and the first half of October this year.

( The US is the largest single import market for Vietnamese shrimp. The demand for US shrimp imports from Vietnam has been quite stable since the outbreak of the Covid-19 pandemic. Vietnamese shrimp in the US market is becoming more and more competitive when India (the largest supplier of shrimp in the US) also faces many barriers due to the Covid epidemic. The market share of Vietnamese shrimp in the US increased from about 8% (2020) to nearly 10% in the first 9 months of 2021.

( Ca Mau Provincial People's Committee and Minh Phu Seafood Corporation have just held the Groundbreaking Ceremony of the Minh Phu Seafood Processing Factory project chain at Khanh An Industrial Park, U Minh District, Ca Mau Province.

( Two products of frozen shrimp and rice exports of Soc Trang province grew strongly in the first 10 months of the year, of which shrimp exports increased by 21%.

( The rice-shrimp farming model is mainly concentrated in the coastal provinces such as Kien Giang, Soc Trang, Bac Lieu, Ben Tre, Ca Mau, etc. is giving high economic efficiency. Every year, farmers earn two sources of rice and shrimp, about 4-4.5 tons of rice/ha/crop and 0.45-0.5 tons of shrimp/ha/crop.

( Vietnam's shrimp production and export in the second half of September 2021 has shown more positive signs, especially in some key shrimp provinces such as Soc Trang, Bac Lieu, and Ca Mau. Thanks to good epidemic control direction, businesses have both made efforts to fight the epidemic while trying to maintain production and export.

( By September 21, 2021, Sao Ta Food Joint Stock Company (FIMEX VN) has restored 100% of capacity after the period of social distancing. Sao Ta's shrimp prices are at a good level and the company is accelerating production to meet the needs of its partners.


Ms Kim Thu


Tel: 84.24.3771.5055 (ext 203)

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