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June 25, 2015

Vietnam

Minh Phu Targets Fifty/Fifty Monodon/Vannamei Production

 

Vietnamese shrimp producer Minh Phu Seafood Corporation is focused on increasing the market for, and production of, giant tiger shrimp (Penaeus monodon).

 

“Currently, the market share for giant tigers is 20% of the global shrimp market, which tells you there is a certain number of people who always prefer to have giant tiger only,” said the firm’s chairman, Le Van Quang.

 

“If the price of P. monodon and P. vannamei is not significantly different, the demand for giant tigers will grow.  I have a special interest in developing the production of giant tigers, and I am determined to make the prices of these two types of shrimp become equal.”

 

In 2014, Minh Phu produced 57,720 metric tons of shrimp.  Production in 2015 is expected to be about the same, but Minh Phu is striving for a 50:50 split between vannamei and monodon, said Quang.

 

In 2015, Vietnam expects its shrimp farming area to reach 700,000 hectares, with a total production of 700,000 metric tons, said Quang, citing a report from the Seafood General Department of the Vietnamese Ministry of Agriculture.  This compares to 2014’s 676,000 hectares, with a total production is 640,000 tons.

 

Blueyou Consulting, based in Zurich, Switzerland, has established a strategic partnership with Minh Phu to distribute its giant tiger shrimp.  The product is rated a “best choice” by the Monterey Bay Aquarium’s Seafood Watch Program.

 

In May 2015, Blueyou, which is running a “Selva shrimp” branded project in conjunction with Minh Phu, said sales to the USA had been increasing ever since the brand was awarded a Monterey Bay Aquarium “best buy”.

 

“Since we started in 2010, Selva shrimp has been popular in Japan and Korea for its high quality,” said Urs Baumgartner, country manager for Vietnam at Blueyou Consulting.  “But since November, with Seafood Watch describing us as the only safe buy for farmed giant tiger, USA interest has really picked up.”

 

“There are two companies waiting in the USA now, with deliveries on the way out there,” he said, adding that the USA and the European Union...were growth areas for Selva.”

 

The Selva program ties small-scale farmers in the Ca Mau mangrove region of Vietnam under a certification created by Blueyou, and Minh Phu partners with them to process the shrimp for sales in Asia, the EU and USA.

 

The Vietnam Association of Seafood Exporters and Producers (VASEP) noted that in the first quarter of 2015, overall exports of giant tiger shrimp were down in value terms by 32%, to $178 million.  Vannamei exports too were down by 30%, to $340 million.

 

Source: Undercurrent News [eight free news reads every month].  Editor, Tom Seaman (undercurrent@undercurrentnews.com).  Minh Phu Targets 50:50 Black Tiger, Vannamei Production.  Neil Ramsden (neil.ramsden@undercurrentnews.com).  June 25, 2015.

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