Toan Dao has written about Vietnam’s business community, with a focus on energy and agriculture, for a number of Vietnamese and international outlets for more than 10 years. As a contributing editor for SeafoodSource in Southeast Asia, he also covers other major seafood producers in the region including Indonesia and Thailand.
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Thai Union has set the final share price for the first part of the initial public offering of shares of its petcare subsidiary, i-Tail Corporation Public Company Limited (ITC).
In a filing to the Stock Exchange of Thailand on 28 November, Thai Union said the final IPO price for an ITC share is THB 32 (USD 0.9, EUR 0.86).
With 132 million newly-issued ordinary shares to be allocated to existing eligible shareholders of Thai Union (pre-empty
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Bangkok, Thailand-based food giant Charoen Pokphand Foods reported a sharp increase in its net profit in the third quarter as its operations recovered from disruptions caused by the COVID-19 pandemic.
Its net profit over the period spanning July to September grew 195 percent year-on-year to THB 5.108 billion (USD 141.5 million, EUR 137.8 million), up from a loss of THB 5.37 billion (USD 148.8 million, EUR 144.9 million) in the same period in
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Thai Union subsidiary King Oscar has acquired half-ownership of Icelandic cod liver producer Aegir Seafood Company.
Bangkok, Thailand-based Thai Union advised the Stock Exchange of Thailand that the investment in 50 percent of the shares in Aegir was made to “strengthen and enhance cod liver business of King Oscar and Rugen Fisch brands.”
Grindavík, Iceland-based Aegir is now jointly owned by King Oscar and private company
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Animal welfare and sustainability will become critical issues the global shrimp sector has to pay more attention to, according to a leading shrimp industry expert.
During the Global Shrimp Forum in September 2022, Ahold Delhaize Vice President of Product Integrity Hugo Byrnes said shrimp consumers around the world are increasingly interested in sustainability and animal welfare issues.
“It’s time for the shrimp industry to wake up to
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Exports of tuna from Vietnam to the E.U. surged in Q3 2022 on higher demand.
Vietnam's E.U. sales between July and September rose 47 percent year-on-year to more than USD 46 million (EUR 46.3 million). The total was also 41 percent higher than the same period in 2019. September's sales alone reached a value of USD 31 million (EUR 31.2 million), up 33 percent from a year earlier and the largest monthly value so far this year
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Thai Union posted all-time highs for quarterly sales and net profit in the third quarter of 2022, mainly due to the better performance of its core businesses and its pet care and value-added operations.
Thai Union’s sales between July and September surged 14.7 percent year-on-year to THB 40.76 billion (USD 1.08 billion, EUR 1.09 billion) on higher selling prices, rising sales volumes, and favorable foreign exchange, the company said
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The U.S. Food and Drug Administration (FDA) has sent a letter to Thai Union notifying it of committing violations of Hazard Analysis and Critical Control Point (HACCP) regulations at its tuna-processing factory in Samut Sakhon, Thailand.
The warning was issued on 20 April, 2022, following a remote assessment of Thai Union’s tuna processing facility in Samut Sakhon conducted by the FDA in January 2022.
In its letter, the FDA said it
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The European Commission is planning to conduct another inspection to check Vietnam’s progress in combating illegal, unreported, and unregulated (IUU) fishing.
E.C. Directorate-General for Maritime Affairs and Fisheries (MARE) IUU Fisheries Policy Unit Head Roberto Cesari was in Vietnam on 28 October, wrapping up the most-recent site visit, when he announced his team would be returning within six months for a follow-up appointment.
Vietnam
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Vietnam has seen its seafood exports and sales fall to their lowest levels in seven months as high inflation in major markets has led to reduced global consumption.
Vietnam's exporters began to feel the brunt of the global inflationary crisis more clearly in September, as sales plunged and customers suspended deliveries. Vietnam’s seafood export value in September was USD 862.8 million (EUR 878.5 million), down 13.7 percent from August,
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The Philippines’ seafood sector is expressing concern about an increase in fish imports from China affecting the livelihoods of local fishers.
The Philippines has imported an average of 20 containers of fish from China weekly over the past month, according to The Manila Times. Association of Fresh Fish Traders of the Philippines President Roderick Santos said the Chinese imports are being sold in the country's
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