Seafood newsletter No. E02 - 02/2021

14 month 05 2023

monamedia

No. E02 – 02/2021

NEWS OF SUNJIN

No. E02 – 02/2021

Shrimp industry target 2021

In 2020, our economy will still grow positively when reaching 2.91% and Vietnam is one of the four economies in the world with growth in GDP per capita (Vietnam, Taiwan, Egypt and China). GDP per capita in 2020 is estimated at about 2,800 USD. According to the World Bank, with an average economic growth of 6.8% per year in the period 2016 – 2019, Vietnam is in the top 10 fastest growing countries.

In the general achievements of the economy, it is impossible not to mention the important contribution of the fisheries sector in general and the shrimp industry in particular. In 2020, the seafood industry has shown its position even more in the context of the global impact of the COVID-19 pandemic, bringing in a turnover of 8.4 billion USD, shrimp exports alone reaching 3.8 billion USD. USD; This is a result that “beyond expectations” when the global food supply chain is currently suffering from COVID-19. With the miracles achieved in the past year, the agricultural sector sets a target to export Agriculture, forestry and fishery products in 2021 to reach 42 billion USD after the result of 41.25 billion USD in 2020. However, agriculture is confirmed. As an important support for the economy, Prime Minister Nguyen Xuan Phuc set a target for the industry next year of 44 billion USD. VASEP also forecasts that Vietnam’s seafood exports in 2021 will increase by 10% to reach over US$9.4 billion, of which shrimp exports still have the strongest growth: up 15%, reaching US$4.4 billion, and pangasius exports. will recover with an increase of 5%, reaching about $ 1.6 billion, seafood exports will increase by 6%, reaching $ 3.4 billion.

Agriculture, forestry and fishery export goals and specific goals of the shrimp industry in 2021

Driving growth through FTAs

By the end of December 2020, Vietnam has joined 15 FTAs, of which 13 have taken effect. In 2020, a number of FTAs were signed, including EVFTA, RCEP, EVIPA, UKVFTA… of which EVFTA is expected to bring the most advantages to Vietnam’s seafood industry in general, including the shrimp industry. EVFTA will come into effect from August 1, 2020, helping to bring import tax to 0% immediately for 71% of goods exported from Vietnam and for 100% of goods in the next 7 years. The World Bank estimates that EVFTA will increase Vietnam’s GDP growth by 2.4%; Vietnam’s exports are expected to grow by 12%.

According to VASEP, seafood is considered as one of three industries that make good use of EVFTA since the agreement officially took effect. As recorded by VASEP, during the first 7 months of 2020, seafood exports dropped continuously by double digits from 17-26%. However, in August, seafood export turnover to the EU began to increase by 1%, in September by 19%, in October by 20%, by 30% in November, and by 15% in December. Especially for shrimp, when in August, Vietnam’s shrimp export turnover to the EU increased by 16%, in September increased by 30%, in October increased by 41%, in November by 40%, in December it is estimated to increase by about 30 %.

2021 is forecasted to still have many difficulties in Vietnam’s seafood trade, but experts still assert that in 2021 and the coming years, Vietnam will basically have many advantages from the war. integration strategy of the country, opportunities from FTAs that have been and will be signed.

Activities Sunjin

With the motto of creating different value for customers, Sunjin we are still continuing to improve product quality through improving production lines, selecting input materials… In February, Sunjin has installed new machinery and equipment in the shrimp feed production line. All these machinery and equipment are imported from IDAH – one of the leading famous suppliers in the field of shrimp feed. This installation is to create synchronization in technology, optimization in the production process to improve the efficiency and quality of Sunjin shrimp feed, benefiting shrimp farmers.

Some pictures of replacing machines at the factory

Category for health

Faced with the complicated situation of Covid, Sunjin sends customers the message “5K” from the Ministry of Health, hoping that customers can pay attention to comply to ensure the safety of themselves and their families; contribute to the protection of the community.

Recommendation “5K” from the Ministry of Health

Sunjin accompanies customers to overcome the epidemic.