Thailand has proposed a reversal of a series of fisheries reforms it implemented over the past eight years.
The move has ignited concern among NGOs and international representatives who fear the lawlessness and lack of oversight that once defined the country’s fishing sector may return. In a letter issued in October 2023, a coalition of 84 civil society organizations, including the Environmental Justice Foundation, Greenpeace, Conservation… Read More
Thai Union reported a drop in its sales and profits in Q3 2023, with greater losses from chain restaurant Red Lobster particularly affecting the company’s bottom line.
According to Thai Union’s Q3 2023 results released on 6 November, company-wide sales over the period fell 16.8 percent year over year to THB 33.9 billion (USD 953.3 million, EUR 893 million) from “an extraordinary high baseline” in 2022. The Samut Sakhon,… Read More
Vietnam’s seafood sales have continued to drop this year compared to 2022 due to low global demand, but the decline is showing signs of letting up, especially as seasonal festivals in the country – which often involve high levels of seafood trade – draw near.
Vietnam’s total seafood exports in August totaled USD 858.8 million (EUR 805.8 million), down 13 percent year over year, but the smallest monthly drop since March.… Read More
Chinese shrimp imports may surpass 1 million metric tons (MT) this year, defying global purchasing trends and achieving growth that no other market has gotten close to reaching in 2023, according to Shrimp Insights Founder Willem van der Pijl.
Between the second half of 2022 and June of this year, China imported around 1 million MT of shrimp, split nearly evenly through every six months. This statistic, combined with the fact that the… Read More
Grobest, CP Foods, and Skretting are competing for market share in Vietnam through the propagation of proprietary shrimp-farming systems.
During the 2023 Shrimp Summit, hosted by The Center for Responsible Seafood in Ho Chi Minh City from 24 to 26 July, the multinational shrimp feed manufacturers, which are dominant players in Vietnam’s shrimp feed sector, competed to sell farmers the benefits of their models.
Besides being a major… Read More
The global shrimp industry is confronting various challenges, including falling prices and demand coupled with a rise in feed and production costs.
To survive, Charoen Pokphand Foods Executive Vice President is urging his peers to “go back to the fundamentals.”
McIntosh, who also serves as CEO of Homegrown Shrimp USA, CP Foods’ recirculating aquaculture system shrimp farm in the U.S. state of Florida, was honored with the… Read More
A new Indonesian government regulation that forces exporters to deposit part of their earnings in a government-controlled bank account is another blow to the nation’s shrimp exporters and processors, who are already suffering from a global demand slump and rising feed and production costs.
The regulation requires exporters sending cargo with a value of USD 250,000 (EUR 232,000) or more to deposit at least 30 percent of their earnings for a… Read More
The U.S. Department of Commerce (DOC) has upheld antidumping tariffs on frozen warmwater shrimp exports from two Indian companies and slightly increased the rate for all others after finalizing an administrative review.
The U.S. imposes antidumping rates on foreign shrimp imports believed to be priced below fair market value in an attempt to bolster domestic production.
The DOC’s 17th administrative review, the preliminary results of which… Read More
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… Read More
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 –… Read More