Fisheries Newsletter No. E01-01/2021

No. E01-01/2021

NEWS OF SUNJIN

Sunjin News Editorial Board would like to wish all our customers a Happy and Prosperous New Year

No. E01-01/2021

Shrimp market situation 2020

2020 is a year of many challenges for the whole world, including the COVID-19 pandemic, many changes in the world economy, the US Presidential election event… However, the whole Vietnamese agricultural industry said. In general, the seafood industry in particular has achieved impressive results, with the total export turnover of the whole industry reaching 41.2 billion USD. In which, the seafood industry reached US$ 8.47 billion and shrimp exports alone reached US$ 3.7 billion.  

(Source: Vietnam Fisheries, No. 1-01/01/2021)

(Source: Vietnam Fisheries, No. 1-01/01/2021)

Regarding shrimp production in 2020, it is estimated that by the end of December, the total output will reach more than 900 thousand tons. Of which, white-leg shrimp reached more than 570 thousand tons, accounting for 68%; black tiger shrimp reached more than 270 thousand tons, accounting for 32%; The rest are other shrimp species. Regarding the export situation, it is estimated to reach over 3.85 billion USD, up 15% compared to 2019.

Shrimp exports have opportunities from new-generation Free Trade Agreements (FTAs) such as the Regional Comprehensive Economic Partnership (RCEP), the EVFTA Agreement, and most recently the FTA between Vietnam and Vietnam. United Kingdom (UKVFTA)… These FTAs are having a good impact on Vietnam’s seafood exports, contributing to improving the competitiveness of Vietnamese shrimp products in the coming time. With the positive factors from the opportunities Vietnam can have and take advantage of, it is forecast that Vietnam’s seafood exports in 2021 will increase by 10% to over $9.4 billion, of which shrimp exports still have a high level. the strongest growth: up 15%, reaching 4.4 billion USD. The introduction of a COVID-19 vaccine, along with the advantages of the Free Trade Agreements (FTAs) being used relatively well by businesses, will be the driving force for shrimp exports in 2021. However, the situation Therefore, shrimp consumption will not increase immediately, but will increase gradually until the end of the first quarter of 2021 when shrimp consumption at restaurants and hotels will boom again because people are no longer concerned about the problem of shrimp consumption. pandemic.

            èFisheries development plan in 2021: Growth rate of production value reaches 2%; the domestic aquaculture area reached 1.3 million ha (of which, shrimp farming was 740,000 ha, pangasius was 5,700 ha); total aquaculture production of 8.5 million tons (of which, 3.6 million tons of fishery are exploited, 4.9 million tons of aquaculture are); total export turnover reached 8.6 billion USD. (Source: Vietnam Seafood)

It is predicted that shrimp prices will continue to increase in 2021

Normally, when the price of shrimp increases sharply again at the end of the year, it will help farmers to be bolder in deciding to stock up early, but by the end of October 2020, shrimp prices are still quite low, farmers have not focused on stocking because I don’t know if the price of shrimp will go up or not. However, in some places, farmers still stock (although the area is not full), especially in 2-3 stage canvas pond farming models or large farms. Therefore, there is a shortage of raw shrimp sources. Until the end of November, shrimp prices increased again due to the impact of the disease, which caused a shortage of supply at the end of the season.

(Source: Aqua Marketing Department – Sunjin)

In 2021, shrimp prices are likely to continue to increase, if the consumption market does not have many adverse fluctuations. However, according to businesses, whether shrimp prices can stay high in the first months of 2021 or not depends a lot on world supply and demand, but the most concerning thing is the situation of the Covid-19 epidemic. 19 in importing countries as well as major shrimp producing countries in the world.

Activities Sunjin

          On December 18-19, Sunjin held the event “Team building for Jump up 333” with the participation of Sunjin Vietnam CEO – Mr. Lee Ik Mo, General Director of Seafood business. – Mr. Choi Se Min and all staff of Fisheries department and representatives of departments. The event is an opportunity for Sunjin to look back at a year of 2020 full of difficulties and challenges as well as to orient the development strategy associated with the success of customers and shrimp farmers in 2021. Besides, Sunjin also organized organize outdoor activities so that the members have the opportunity to improve, learn and improve their skills and strengthen the spirit of solidarity to nurture their dreams together under the roof of Sunjin.

Experimental shrimp farming system at Sunjin Bac Lieu Shrimp Research Farm

To better support customers and shrimp farmers, on December 23, 2020, Sunjin completed the construction and acceptance of a pilot shrimp farming system at Sunjin Bac Lieu Shrimp Research Farm. This is a modern shrimp farming system based on the Recirculating aquaculture system (RAS). This system is a means and tool to research and evaluate the quality and efficiency of using Sunjin shrimp feed before putting the product on the market. On that basis, more suitable and effective farming models will be proposed for shrimp farmers.

Experimental shrimp farming model with water circulation

               Biological filter tank system                                               1 m3 . culture tank system

Trial operation and acceptance assessment from the Board of Directors on December 23, 2020