Toan Dao

To combat falling global demand for shrimp, prominent industry players are pushing for a collaborative marketing campaign to boost consumption.

The strategies and logistics of establishing a unified global marketing campaign were at the forefront of discussions at the 2023 Shrimp Summit, held by The Center for Responsible Seafood in Vietnam’s Ho Chi Minh City from 24 to 26 July.

A 26 July panel brought together representatives from the

Following record highs in net profit and sales in the third quarter of 2022, Thai Union has posted drops in its net profit for three straight quarters, including in the second quarter of 2023, despite improved performance from Red Lobster, its global restaurant chain.

The Bangkok-based seafood producer earned a net profit of THB 1 billion (USD 28.6 million, EUR 26.1 million) between April and June – down 36.7 percent year over year –

Speaking at The Center for Responsible Seafood’s 2023 Shrimp Summit in Vietnam on 25 July, Minh Phu CEO Le Van Quang said his company’s shrimp sales have shown signs of improvement recently.

Minh Phu reported a loss of VND 95 billion (USD 4 million, EUR 3.6 million) in the first quarter of this year, its first Q1 loss in seven years.

Quang said at an annual stakeholders meeting in June that sales would continue to fall through the

Vietnam's shrimp industry is concerned about falling behind Ecuador and India, as longstanding internal weaknesses continue to plague its progress.

Reduced global demand and increased competition from Ecuador and India, which offer lower-priced shrimp, are taking a toll on Vietnam's shrimp industry. Between January and May 2023, Vietnam exported shrimp worth USD 1.2 billion (EUR 1.07 billion), a 34 percent year-over-year decline. In May, sales

Indonesia is among the top global producers in the aquaculture sector, undergoing 527 percent growth from 1990 to 2018. However, its production has declined from a high of 16.1 million MT in 2017 to 14.6 million MT in 2021, according to FAO statistics.

Indonesia earned approximately USD 6.2 billion (EUR 5.67 billion) from its exports of fishery and marine products in 2022, with shrimp accounting for USD 2.2 billion (EUR 2 billion) in exports in

Viet Uc Seafood, Vietnam’s leading shrimp postlarvae supplier, has opened a shrimp-processing plant in southern Vietnam, completing the firm’s goal of becoming fully integrated along the shrimp value chain.

The Viet Uc-Bac Lieu shrimp processing plant, located in the Hi-Tech Agricultural Park in the coastal province of Bac Lieu, is the first in the country to have automation applied to more than 70 percent of its operations,

The U.S. International Trade Commission (USITC) has decided to maintain antidumping duties on shrimp from India, China, Thailand, and Vietnam in its latest five-year review, according to a 1 June notification.

All five USITC commissioners voted to support the continuation of the antidumping orders.

“The U.S. International Trade Commission (USITC) today determined that revoking the existing antidumping duty orders on frozen warmwater shrimp

Thai Union saw a decline in its total profits in the first quarter of 2023, despite a surprise boost from Red Lobster.

Profits fell mainly due to the lower sales combined with high tuna and salmon prices resulting in softer demand, according to Thai Union’s quarterly report, released 3 May.

Red Lobster, which Thai Union acquired in 2020, contributed a profit of THB 20 million (USD 590,700, EUR 535,120) to Thai Union’s bottom linein

Vietnam’s seafood trade association is complaining its members are facing unfair trade barriers in its exports of shrimp to South Korea.

In a letter sent to Vietnam’s Ministry of Industry and Trade in mid-March, the Vietnam Association of Seafood Exporters and Producers (VASEP) said despite the Vietnam-South Korea free-trade agreement (FTA), which entered into force in December 2015, South Korea has maintained a quota and tariff