Vietnam: Seafood enterprises welcome the big growth wave

Published Jun 21, 2022

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The seafood industry is said to be facing difficulties from the COVID-19 epidemic and the geopolitical conflict between Russia and Ukraine, causing global shipping disruptions, along with compliance with anti-fishing regulations. Unauthorized, Unreported and Unregulated (IUU). However, analysts say that the negative impacts are only temporary and opportunities for seafood processing and exporting enterprises are wide open.

Original content

*The driving force for growth According to KIS Securities Joint Stock Company (Vietnam), stable global seafood consumption demand is the growth engine for Vietnamese seafood processing and exporting enterprises. Processing pangasius for export at the factory of Sao Mai Group (An Giang province). Photo: Vu Sinh - VNA The Food and Agriculture Organization of the United Nations (FAO) said that the global fish supply will increase by 32% in the period 2011-2030, reaching 204 million tons, equivalent to an annual growth rate. compound year (CAGR) reached 2.3%. According to this organization, by 2030, fish catches will be limited and reduced from 10%, and will be replaced by farmed fish instead. Thereby, it is forecast that aquaculture output will reach 109 million tons, up 32% compared to 2018 while the catch output will reach 95 million tons, equivalent to 2018. In particular, key products promote the growth rate. The main species are tilapia, carp, catfish and shrimp. According to ...
Source: Vinanet
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