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The Ministry of Industry and Trade Approves the List of Reliable Exporters for 2022

Nghi Son Foods Group in the ‘Reliable Exporters’ List 2022

  • December 27, 2023
Catfish exports recovery

Approaching $1 Billion: Positive Catfish Exports Outlook

  • August 15, 2023
Xuat khau ca tra tang truong tich cuc

Xuất khẩu Cá Tra Chạm Ngưỡng 1 Tỷ USD, Hứa Hẹn Hồi Phục

  • August 15, 2023
Impact of Increasing Production Costs The competitiveness of Vietnamese seafood products is being affected by rising production costs, including feed prices, material input, electricity, and labor. Experts point out that these escalating expenses are putting pressure on seafood producers and impacting their production and selling prices. Electricity Price Hike and its Consequences The Ministry of Industry and Trade (MoIT) reported an 8.36% increase in the average retail price of power last week. This translates to a rise in electricity bills from 1,720 VND (7.49 US cents) per kWh to 1,864 VND (8.03 cents) per kWh (excluding VAT). The higher electricity tariffs have raised concerns among tra fish producers, as increased input costs are expected to affect their production and ultimately the selling prices. Challenges Faced by Seafood Processing Enterprises Seafood processing enterprises, particularly those involved in export-oriented production, heavily rely on freezers and air conditioning systems, which account for over 85% of their total power consumption. For example, a medium-capacity tra fish processing factory in Dong Thap province typically pays 10 billion VND for electricity per month. With the recent power price increase, factories will face significantly higher expenses. Calls for Reasonable Policies and Support The tra fish industry has suggested that the electricity sector consider and implement reasonable policies that create favorable conditions for production, particularly in the agricultural and fishery sectors. One proposed approach is to increase electricity prices gradually, with an initial surge rate of 3-4%, followed by suitable adjustments. Furthermore, enterprises urge the government to offer preferential loans to support the conversion of outdated electrical equipment to new, energy-efficient machines. Promoting the use of renewable energy resources is also seen as a viable solution. Labor Costs and Difficulties in Recruitment Seafood processing enterprises are facing challenges in finding workers, especially in Ho Chi Minh City and the Mekong Delta region. Despite increasing salaries to attract workers, enterprises are still struggling with labor shortages. Unstable incomes and hazardous working environments have prompted many workers to switch jobs. These difficulties in labor recruitment contribute to rising labor costs for seafood processing businesses. Feed and Antibiotic Costs The cost of feed in Vietnam's shrimp industry is higher compared to neighboring countries. Shrimp production costs in Vietnam are approximately 1 USD per kilogram higher than in neighboring countries. Additionally, the cost of antibiotics poses a significant financial burden on the domestic shrimp industry. The price of raw shrimp itself presents a major challenge for seafood processing enterprises due to unstable supplies caused by reductions in fishery resources and severe weather conditions. Investments in Large-scale Material Regions To mitigate production costs and ensure quality and hygiene control, large seafood producers have been actively developing large-scale material regions. These regions have higher capacities and allow for cost reductions. For example, companies like Minh Phu Seafood Corporation and Sao Ta Food Joint Stock Company have invested in expanding their shrimp farming areas to increase supply. Vinh Hoan JSC plans to expand its tra fish farming area, while Nam Viet Joint Stock Company is constructing a high-tech tra fish farming region to meet processing capacity targets. In conclusion, rising production costs in the Vietnamese seafood industry, including electricity, feed, labor, and material inputs, are presenting challenges for enterprises. The recent increase in electricity prices has led to concerns about the impact on production and selling prices. To address these challenges, the industry suggests reasonable policies, support for the adoption of renewable energy, preferential loans for upgrading equipment, and efforts to stabilize labor recruitment. Investments in large-scale material regions are also being made to reduce costs and ensure a steady supply of raw materials.

Costs cause seafood firms to sink

  • June 2, 2023
The Ministry of Industry and Trade Approves the List of Reliable Exporters for 2022

Nghi Son Foods Group in the ‘Reliable Exporters’ List 2022

  • December 27, 2023
Catfish exports recovery

Approaching $1 Billion: Positive Catfish Exports Outlook

  • August 15, 2023
Xuat khau ca tra tang truong tich cuc

Xuất khẩu Cá Tra Chạm Ngưỡng 1 Tỷ USD, Hứa Hẹn Hồi Phục

  • August 15, 2023
Impact of Increasing Production Costs The competitiveness of Vietnamese seafood products is being affected by rising production costs, including feed prices, material input, electricity, and labor. Experts point out that these escalating expenses are putting pressure on seafood producers and impacting their production and selling prices. Electricity Price Hike and its Consequences The Ministry of Industry and Trade (MoIT) reported an 8.36% increase in the average retail price of power last week. This translates to a rise in electricity bills from 1,720 VND (7.49 US cents) per kWh to 1,864 VND (8.03 cents) per kWh (excluding VAT). The higher electricity tariffs have raised concerns among tra fish producers, as increased input costs are expected to affect their production and ultimately the selling prices. Challenges Faced by Seafood Processing Enterprises Seafood processing enterprises, particularly those involved in export-oriented production, heavily rely on freezers and air conditioning systems, which account for over 85% of their total power consumption. For example, a medium-capacity tra fish processing factory in Dong Thap province typically pays 10 billion VND for electricity per month. With the recent power price increase, factories will face significantly higher expenses. Calls for Reasonable Policies and Support The tra fish industry has suggested that the electricity sector consider and implement reasonable policies that create favorable conditions for production, particularly in the agricultural and fishery sectors. One proposed approach is to increase electricity prices gradually, with an initial surge rate of 3-4%, followed by suitable adjustments. Furthermore, enterprises urge the government to offer preferential loans to support the conversion of outdated electrical equipment to new, energy-efficient machines. Promoting the use of renewable energy resources is also seen as a viable solution. Labor Costs and Difficulties in Recruitment Seafood processing enterprises are facing challenges in finding workers, especially in Ho Chi Minh City and the Mekong Delta region. Despite increasing salaries to attract workers, enterprises are still struggling with labor shortages. Unstable incomes and hazardous working environments have prompted many workers to switch jobs. These difficulties in labor recruitment contribute to rising labor costs for seafood processing businesses. Feed and Antibiotic Costs The cost of feed in Vietnam's shrimp industry is higher compared to neighboring countries. Shrimp production costs in Vietnam are approximately 1 USD per kilogram higher than in neighboring countries. Additionally, the cost of antibiotics poses a significant financial burden on the domestic shrimp industry. The price of raw shrimp itself presents a major challenge for seafood processing enterprises due to unstable supplies caused by reductions in fishery resources and severe weather conditions. Investments in Large-scale Material Regions To mitigate production costs and ensure quality and hygiene control, large seafood producers have been actively developing large-scale material regions. These regions have higher capacities and allow for cost reductions. For example, companies like Minh Phu Seafood Corporation and Sao Ta Food Joint Stock Company have invested in expanding their shrimp farming areas to increase supply. Vinh Hoan JSC plans to expand its tra fish farming area, while Nam Viet Joint Stock Company is constructing a high-tech tra fish farming region to meet processing capacity targets. In conclusion, rising production costs in the Vietnamese seafood industry, including electricity, feed, labor, and material inputs, are presenting challenges for enterprises. The recent increase in electricity prices has led to concerns about the impact on production and selling prices. To address these challenges, the industry suggests reasonable policies, support for the adoption of renewable energy, preferential loans for upgrading equipment, and efforts to stabilize labor recruitment. Investments in large-scale material regions are also being made to reduce costs and ensure a steady supply of raw materials.

Costs cause seafood firms to sink

  • June 2, 2023
Commercial fishermen scramble to sell quota before year's end

Fishermen Rush to Sell Quota Before Year’s End

  • June 2, 2023
Vietnam yellowfin tuna exports growth 21%

Vietnam yellowfin tuna exports growth 21%

  • August 10, 2021
Xuất khẩu thuỷ sản sang Trung Quốc giảm liên tiếp do Covid

Xuất khẩu thuỷ sản sang Trung Quốc giảm liên tiếp do Covid

  • June 30, 2021
Xuất khẩu cá tra phục hồi mạnh

Xuất khẩu cá tra phục hồi mạnh

  • June 13, 2021
Xuất khẩu cá ngừ “tăng tốc” trong tháng 4/2021

Xuất khẩu cá ngừ “tăng tốc” trong tháng 4/2021

  • June 5, 2021

Trong Covid, doanh nghiệp thủy sản thích ứng và bứt phá

  • May 29, 2021

Xuất Khẩu cá tra tăng nhưng chưa mừng vội

  • May 15, 2021

Quý 1/2021, EU tăng nhập khẩu cá ngừ vằn đông lạnh

  • May 7, 2021

Tuna exports fell after two months of consecutive growth

  • April 12, 2021

Q1 2021: 3.16% Growth in Agri-Forestry-Fishery

  • April 12, 2021
SATS spurs US aquaculture with new campaign

SATS spurs US aquaculture with new campaign

  • April 12, 2021
Namibia revels in MSC certification of hake fishery

Namibia revels in MSC certification of hake fishery

  • November 24, 2020

World’s biggest fish market in Tokyo hit hard by COVID-19

  • November 19, 2020
Act Now to Save Indian Ocean Yellowfin Tuna from Overfishing

Act Now to Save Indian Ocean Yellowfin Tuna from Overfishing

  • November 19, 2020

Fish consumption fights malnourishment in Bangladesh

  • November 17, 2020

Social media users sink teeth into sharks at wet market

  • November 12, 2020
Cellular agriculture: exciting and revolutionary

Stem Cell Seafood: The Next Big Thing in Shrimp Industry?

  • November 12, 2020

Asian carp roundup opens new front in battle

  • November 12, 2020
Surplus Asian catch sinks spot-prawn market

Surplus Asian catch sinks spot-prawn market

  • November 12, 2020

Pangasius exports to US continue to fall

  • November 12, 2020

Pangasius exports to England continues to increase

  • November 11, 2020

Situation of shrimp and pangasius market in May 2020

  • November 11, 2020

Coronavirus hits sustainable aquaculture

  • November 11, 2020

EC Acknowledges Vietnam’s Progress in IUU Fight

  • November 11, 2020
European Parliament ratifies EVFTA, EVIPA

European Parliament ratifies EVFTA, EVIPA

  • November 11, 2020
China's wet markets are not what some people think they are

China’s wet markets are not what some people think they are

  • November 11, 2020
ASEAN the next big fish for Vietnam’s seafood industry

ASEAN the next big fish for Vietnam’s seafood industry

  • November 10, 2020
India's seafood exports pegged at 12,89,651 MT in FY 2019-20

India’s seafood exports pegged at 12,89,651 MT in FY 2019-20

  • November 10, 2020
Seafood markets come under spotlight amid Beijing’s new outbreak

Beijing’s Outbreak Puts Spotlight on Seafood Markets

  • November 10, 2020

Seafood Industry Dispels Beijing’s COVID-19 Salmon Rumors

  • November 3, 2020

Int’l Photo Contest Highlights Fish Market Aerial Shot

  • November 3, 2020
Local business brings Alaskan fish to Central Texas markets

Local business brings Alaskan fish to Central Texas markets

  • November 3, 2020

Tuna exports to Italy soar

  • October 30, 2020

Vietnamese catfish exports dominate US market

  • October 30, 2020

Deadly new seafood virus should be prevented: Ministry

  • October 28, 2020

Egypt emerges as promising market for Vietnamese canned tuna

  • October 28, 2020
Việt Nam to promote shrimp exports to EU next year

Việt Nam to promote shrimp exports to EU next year

  • October 28, 2020

Seafood exports plummet

  • October 28, 2020

Coronavirus: ‘severe shock’ to UK fishing as markets dry up

  • October 27, 2020
Seafood exports increase after EVFTA comes into effect

Seafood exports increase after EVFTA comes into effect

  • October 27, 2020

Vietnam to export 19.5% of its Pangasius to EU, Russia

  • October 27, 2020

Vietnamese Tra Fish Firms Hit by Pandemic Profit Drops

  • October 27, 2020

Seafood exports to China could recover in second half

  • October 27, 2020

Vietnam seafood exports could miss $10 bln target

  • October 27, 2020
Shrimp exports unscathed by global pandemic

Shrimp exports unscathed by global pandemic

  • October 27, 2020

Briefing of seafood market in the first six months of 2020

  • October 27, 2020
Young’s Seafood Chief Executive calls for seafood industry to champion best practice

Young’s Seafood CEO Urges Industry Best Practices Advocacy

  • October 27, 2020
Our images Nghi SOn Foods Group

Our Images

  • September 7, 2020

Tech Boosts Pangasius Farming Amid Challenges

  • July 1, 2020

Seafood Exports Estimated at $2.81B in Five Months

  • July 1, 2020

EU will remove tariffs on Vietnamese tuna in this August

  • July 1, 2020
Bình Thuận: Low consumption of commercial shrimp

Bình Thuận: Low Consumption of Commercial Shrimp

  • July 1, 2020

Top 10 seafood sellers to Vietnam in the first five months

  • July 1, 2020

NEW FISHERIES IMPROVEMENT PROJECT IN THE GULF OF THAILAND

  • June 30, 2020

Export Of Vietnamese Canned Tuna To The US Went up

  • June 30, 2020
ASSESSORS MUST RECONSIDER MSC TUNA EVIDENCE

Pangasius Exports Are Still Affected By Covid-19

  • June 30, 2020
ASSESSORS MUST RECONSIDER MSC TUNA EVIDENCE

Assessors Must Reconsider MSC Tuna Evidence

  • June 30, 2020

Xuất khẩu gần 40 tỷ USD hàng hóa sang thị trường CPTPP

  • April 29, 2020
Cơ hội và thách thức từ EVFTA

Cơ hội và thách thức từ EVFTA?

  • April 29, 2020

April Recap: White Leg Shrimp Prices Rise in Shrimp Market

  • April 29, 2020

Vietnam – China Agricultural Product Trade Online Conference

  • April 29, 2020
VIETNAM SHRIMP EXPORTS TO AUSTRALIA WENT UP

Vietnam Shrimps Exports To Australia Went Up

  • April 14, 2020

EU Council Advances Vietnamese Shrimp Industry – Trade Boost

  • April 14, 2020

SEAFOOD EXPORTERS FLOUNDERING DUE TO COVID-19

  • April 14, 2020

Rising Vietnam Tuna Exports to US, EU Amid Pandemic

  • April 14, 2020
PANGASIUS EXPORTS TO MALAYSIA WENT UP BY 23.6%

Pangasius Exports to Malaysia Went Up by 23.6%

  • April 14, 2020

Phạt 1,6 Tỷ Đồng 5 Tàu Cá Vi Phạm Thiết Bị Giám Sát

  • April 14, 2020

Cỏ biển – “bể chứa carbon” chống biến đổi khí hậu

  • April 14, 2020

Hỗ trợ ngư dân bám biển và chuyển đổi nghề phù hợp

  • April 14, 2020
Vietnam world’s fourth largest seafood exporter

Vietnam world’s fourth largest seafood exporter

  • December 26, 2019
Seafood export to CPTPP market increased sharply

Seafood export to CPTPP market increased sharply

  • December 26, 2019
Many tuna markets prospered in the first quarter in 2019

Many tuna markets prospered in the first quarter in 2019

  • December 26, 2019
Shifting seafood exports to ASEAN

Shifting seafood exports to ASEAN

  • December 26, 2019
Many advantages of exporting tuna to ASEAN market

Many advantages of exporting tuna to ASEAN market

  • December 26, 2019
Seafood export in the first 4 months of the year

Positive Signs in US, EU Seafood Exports in First 4 Months

  • December 26, 2019
Vietnamese squid and octopus are favored in South Korea

Vietnamese squid and octopus are favored in South Korea

  • December 26, 2019
Japan is the leading in importing Vietnamese seafood in the first 4 months

Japan Leads Vietnamese Seafood Imports in 4 Months

  • December 26, 2019
Opportunities in ASEAN for Vietnamese Tra Fish Exports

Opportunities in ASEAN for Vietnamese Tra Fish Exports

  • December 26, 2019
Chủ động chiếm lĩnh thị trường xuất khẩu Châu Âu

Chủ động chiếm lĩnh thị trường xuất khẩu vào Châu Âu

  • December 25, 2019

Đồng Tháp: Giá cá tra nguyên liệu tiếp tục giảm

  • December 25, 2019

Thị trường cá hồi toàn cầu 2019 đến 2029

  • December 25, 2019

Hội Nghị Thường Niên Ủy Ban Thủy Sản Thái Bình Dương

  • December 25, 2019

Sản Xuất Cá Tuyết Công Nghiệp Na Uy: Viết Lên Lịch Sử

  • December 25, 2019

81% Bạch Tuộc Đông Lạnh Nhập Hàn Quốc Từ Việt Nam

  • December 25, 2019

Thị trường cua, ghẹ trên thế giới: Nguồn cung khan hiếm

  • December 25, 2019

Nguồn Cung Nhuyễn Thể Hai Mảnh Vỏ Tăng

  • December 25, 2019

Một ứng dụng giúp ngư dân xác định các loài bị cấm khai thác

  • December 25, 2019
xuất khẩu cá da trơn

Mỹ Công Bố Luật Công Nhận Việt Nam Xuất Khẩu Cá Da Trơn

  • December 25, 2019

Xuất khẩu thủy sản 6 tháng đầu năm đạt 4 tỷ USD

  • December 25, 2019

Tôm Kiên giang

  • June 20, 2019
Kien Giang to expand shrimp farming models

Kien giang to expand shrimp farming models

  • April 18, 2019
Vietnam sets goal of USD 10.5 billion in seafood exports for 2019

Vietnam Aims for $10.5B in Seafood Exports for 2019

  • April 18, 2019
Revolutionizing tra fish sector with industry 4.0 technologies

Tra Fish Sector Transformed by Industry 4.0 Tech

  • April 18, 2019
The UK Shrimp import demand from vietnam remained stable

The UK: Shrimp import demand from vietnam remained stable

  • April 18, 2019
Seafood Expo North America & Seafood Processing North America-2019

Highlights: Seafood Expo North America 2019

  • April 18, 2019
Seafood Expo North America 2019

Largest Annual Seafood Expo in North America – SEA 2019

  • April 18, 2019
Vietnam Tra Fish Export to the US A Surprising Turnaround

Vietnam Tra Fish Export to the US: A Surprising Turnaround

  • April 18, 2019

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