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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

Catfish exports recovery

Approaching $1 Billion: Positive Catfish Exports Outlook

Xuat khau ca tra tang truong tich cuc

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

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 Furthermore, enterprises urge the government to offer preferential loans to support the conversion of outdated electrical equipment to new, energy-efficient machines.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

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

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

Catfish exports recovery

Approaching $1 Billion: Positive Catfish Exports Outlook

Xuat khau ca tra tang truong tich cuc

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

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

Commercial fishermen scramble to sell quota before year's end

Fishermen Rush to Sell Quota Before Year’s End

Vietnam yellowfin tuna exports growth 21%

Vietnam yellowfin tuna exports growth 21%

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

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

Xuất khẩu cá tra phục hồi mạnh

Xuất khẩu cá tra phục hồi mạnh

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

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

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

Xuất Khẩu cá tra tăng nhưng chưa mừng vội

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

Tuna exports fell after two months of consecutive growth

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

SATS spurs US aquaculture with new campaign

SATS spurs US aquaculture with new campaign

Namibia revels in MSC certification of hake fishery

Namibia revels in MSC certification of hake fishery

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

Act Now to Save Indian Ocean Yellowfin Tuna from Overfishing

Act Now to Save Indian Ocean Yellowfin Tuna from Overfishing

Fish consumption fights malnourishment in Bangladesh

Social media users sink teeth into sharks at wet market

Cellular agriculture: exciting and revolutionary

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

Asian carp roundup opens new front in battle

Surplus Asian catch sinks spot-prawn market

Surplus Asian catch sinks spot-prawn market

Pangasius exports to US continue to fall

Pangasius exports to England continues to increase

Situation of shrimp and pangasius market in May 2020

Coronavirus hits sustainable aquaculture

EC Acknowledges Vietnam’s Progress in IUU Fight

European Parliament ratifies EVFTA, EVIPA

European Parliament ratifies EVFTA, EVIPA

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

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

ASEAN the next big fish for Vietnam’s seafood industry

ASEAN the next big fish for Vietnam’s seafood industry

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

Seafood markets come under spotlight amid Beijing’s new outbreak

Beijing’s Outbreak Puts Spotlight on Seafood Markets

Seafood Industry Dispels Beijing’s COVID-19 Salmon Rumors

Int’l Photo Contest Highlights Fish Market Aerial Shot

Local business brings Alaskan fish to Central Texas markets

Local business brings Alaskan fish to Central Texas markets

Tuna exports to Italy soar

Vietnamese catfish exports dominate US market

Deadly new seafood virus should be prevented: Ministry

Egypt emerges as promising market for Vietnamese canned tuna

Việt Nam to promote shrimp exports to EU next year

Việt Nam to promote shrimp exports to EU next year

Seafood exports plummet

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

Seafood exports increase after EVFTA comes into effect

Seafood exports increase after EVFTA comes into effect

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

Vietnamese Tra Fish Firms Hit by Pandemic Profit Drops

Seafood exports to China could recover in second half

Vietnam seafood exports could miss $10 bln target

Shrimp exports unscathed by global pandemic

Shrimp exports unscathed by global pandemic

Briefing of seafood market in the first six months of 2020

Young’s Seafood Chief Executive calls for seafood industry to champion best practice

Young’s Seafood CEO Urges Industry Best Practices Advocacy

Our images Nghi SOn Foods Group

Our Images

Tech Boosts Pangasius Farming Amid Challenges

Seafood Exports Estimated at $2.81B in Five Months

EU will remove tariffs on Vietnamese tuna in this August

Bình Thuận: Low consumption of commercial shrimp

Bình Thuận: Low Consumption of Commercial Shrimp

Top 10 seafood sellers to Vietnam in the first five months

NEW FISHERIES IMPROVEMENT PROJECT IN THE GULF OF THAILAND

Export Of Vietnamese Canned Tuna To The US Went up

ASSESSORS MUST RECONSIDER MSC TUNA EVIDENCE

Pangasius Exports Are Still Affected By Covid-19

ASSESSORS MUST RECONSIDER MSC TUNA EVIDENCE

Assessors Must Reconsider MSC Tuna Evidence

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

Cơ hội và thách thức từ EVFTA

Cơ hội và thách thức từ EVFTA?

April Recap: White Leg Shrimp Prices Rise in Shrimp Market

Vietnam – China Agricultural Product Trade Online Conference

VIETNAM SHRIMP EXPORTS TO AUSTRALIA WENT UP

Vietnam Shrimps Exports To Australia Went Up

EU Council Advances Vietnamese Shrimp Industry – Trade Boost

SEAFOOD EXPORTERS FLOUNDERING DUE TO COVID-19

Rising Vietnam Tuna Exports to US, EU Amid Pandemic

PANGASIUS EXPORTS TO MALAYSIA WENT UP BY 23.6%

Pangasius Exports to Malaysia Went Up by 23.6%

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

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

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

Vietnam world’s fourth largest seafood exporter

Vietnam world’s fourth largest seafood exporter

Seafood export to CPTPP market increased sharply

Seafood export to CPTPP market increased sharply

Many tuna markets prospered in the first quarter in 2019

Many tuna markets prospered in the first quarter in 2019

Shifting seafood exports to ASEAN

Shifting seafood exports to ASEAN

Many advantages of exporting tuna to ASEAN market

Many advantages of exporting tuna to ASEAN market

Seafood export in the first 4 months of the year

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

Vietnamese squid and octopus are favored in South Korea

Vietnamese squid and octopus are favored in South Korea

Japan is the leading in importing Vietnamese seafood in the first 4 months

Japan Leads Vietnamese Seafood Imports in 4 Months

Opportunities in ASEAN for Vietnamese Tra Fish Exports

Opportunities in ASEAN for Vietnamese Tra Fish Exports

Chủ động chiếm lĩnh thị trường xuất khẩu Châu Âu

Chủ động chiếm lĩnh thị trường xuất khẩu vào Châu Âu

Đồng Tháp: Giá cá tra nguyên liệu tiếp tục giảm

Thị trường cá hồi toàn cầu 2019 đến 2029

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

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Nguồn Cung Nhuyễn Thể Hai Mảnh Vỏ Tăng

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

xuất khẩu cá da trơn

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

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

Tôm Kiên giang

Kien Giang to expand shrimp farming models

Kien giang to expand shrimp farming models

Vietnam sets goal of USD 10.5 billion in seafood exports for 2019

Vietnam Aims for $10.5B in Seafood Exports for 2019

Revolutionizing tra fish sector with industry 4.0 technologies

Tra Fish Sector Transformed by Industry 4.0 Tech

The UK Shrimp import demand from vietnam remained stable

The UK: Shrimp import demand from vietnam remained stable

Seafood Expo North America & Seafood Processing North America-2019

Highlights: Seafood Expo North America 2019

Seafood Expo North America 2019

Largest Annual Seafood Expo in North America – SEA 2019

Vietnam Tra Fish Export to the US A Surprising Turnaround

Vietnam Tra Fish Export to the US: A Surprising Turnaround

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