The director of a Vietnamese seafood company has been arrested for allegedly illegally appropriating money paid by a U.S. importer in a seafood export contract.
Truong Trung Tin, the director of Trung Tin Seafood Import and Export Limited Company, based in Vietnam’s Ca Mau Province, was arrested 30 September, 2022, on charges he pocketed nearly ...
Photo courtesy of Ca Mau Provincial Police Investigation… Read More
The Russia-Ukraine conflict and rising inflation rates in global markets are negatively impacting Bangladesh’s shrimp exports.
Russia and Ukraine were both markets of significance to Bangladesh’s shrimp exporters until the beginning of the war in March 2022. But Bangladesh’s exports to Russia in the most recent fiscal year, which ended 30 June, dropped to 240 metric tons (MT), down 67.2 percent year-on-year, while the… Read More
U.S. restaurant chain Red Lobster has opened its first location in Bangkok, Thailand in a bid to expand into Asia, despite the company’s financial difficulties.
The new restaurant can hold up to 70 guests and is located in Queen Sirikit National Convention Center in the Thai capital, the Bangkok Post reported. According to the company, the new restaurant's menu will feature seafood purchased from traceable and sustainable… Read More
By 2025, Vietnamese shrimp producer Fimex aims to earn a sales revenue of USD 300 million (EUR 303.7 million) and a consolidated net profit of VND 500 billion (USD 21.1 million, EUR 21.3 million) thanks to its expansion plans, according to Fimex Chairman Ho Quoc Luc.
Fimex’s 2021 export value, which also included sales of agricultural products, grew 12 percent year-on-year to USD 213 million (EUR 215.6 million). Its consolidated net profit… Read More
Vietnam's tuna exports to Germany surged 221 percent and its Belgian exports rose 116 percent as part of a 70 percent monthly increase in in its exports to the European Union in August 2022.
Overall, Vietnam made USD 92 million (EUR 91.7 million) from its tuna exports in August, up 86 percent year-over-year, though that increase is partially the results of the nationwide COVID-19-related lockdown Vietnam entered in August… Read More
Lower demand from the United States and a shortage of larger-sized shrimp did not cool Vietnam’s shrimp exports in August 2022.
The country’s overall shrimp sales in August reached USD 398 million (EUR 402.7 million), up 41 percent year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Through the first eight months of 2022, Vietnam’s shrimp exports are up 24 percent year-on-year in… Read More
Vietnamese pangasius exporters are getting higher prices for frozen fillets shipped to the United States, after prices dipped over the summer.
In August 2022, frozen pangasius fillets shipped from Vietnam to the U.S. brought in an average of USD 5.00 (EUR 5.06) per kilogram, up from USD 4.90 (EUR 4.96) per kilogram in July and from USD 4.40 (EUR 4.45) per kilogram in June ...
Photo courtesy of Nina… Read More
The Philippines Bureau of Fisheries and Aquatic Resources (DA-BFAR) is developing breeding techniques to revitalize several freshwater fish species native to the Southeast Asian country.
Indigenous freshwater fish species in the Philippines have been on a decline due to overfishing, worsening water quality, siltation, illegal fishing, competition from non-native species, and climate change, and through the new program, DA-BFAR hopes to… Read More
Kaohsiung, Taiwan-based seafood-processing firm Anyong Biotechnology announced it is now using the Cells Alive System (CAS) technology developed by the Japan-based ABI Corporation to preserve the freshness of its products.
The company claims it is the first in the region to use the CAS system, which has been granted three major innovation awards in Japan. ABI Corporation claims it preserves food with greater freshness than… Read More
Singapore-based industrial insect-meal company Nutrition Technologies has completed a USD 20 million (EUR 19.9 million) equity fundraising round to support its expansion plans.
The equity venture round was led by PTT Ventures and supported by Sumitomo Corporation, ING Sustainable Investments, and Mandala Capital. Other participants included existing investors Openspace Ventures, SEEDs Capital, and Hera Capital. The funds from the round will be… Read More