Toan Dao

International food and beverage manufacturing company Thai Union posted a loss of THB 17.2 billion (USD 477.5 million, EUR 442.9 million) in the fourth quarter of 2023, culminating in the write-off of its investment in the Red Lobster seafood restaurant chain, according to the company’s latest results report.

Thai Union originally upped its investment in Red Lobster in 2020, taking a larger stake in the chain as part of a consortium

Vietnam has high expectations for growing its global seafood exports in 2024, despite huge potential obstacles.

The Southeast Asian country expects to earn USD 9.5 billion (EUR 8.7 billion) from seafood exports in 2024, including USD 4 billion (EUR 3.7 billion) from shrimp exports, USD 1.9 billion (EUR 1.7 billion) from pangasius sales, and USD 3.6 billion (EUR 3.3 billion) from other seafood products.

According to the Vietnam Association of

Vietnamese shrimp exports to the U.S. declined in 2023, with challenges for Vietnamese exporters set to intensify further in 2024 due to an ongoing investigation by the U.S. Department of Commerce (DOC) and the implementation of enhanced domestic protection measures pushed by the U.S. shrimp industry.

Shrimp exports to the U.S., Vietnam's top shrimp buyer, totaled USD 589 million (EUR 529.3 million) in the first 10 months of 2023, down 20

Vietnamese exporters of tropical rock lobster have had to temporarily halt their shipments to China due to new regulations pertaining to the protection of endangered species.

During a recent meeting with Vietnam’s National Authority for Agro-Forestry-Fishery Quality, Processing, and Market Development, Chinese customs officials said that wild tropical rock lobsters were a new addition to the list of endangered species declared by Chinese

Many Vietnamese pangasius and shrimp exporters endured a challenging Q3 2023, as they struggled with falling sales by value and lower profits due to weak global demand.

Between July and September 2023, Vietnam shipped seafood globally worth USD 2.5 billion (EUR 2.3 billion) – a 12 percent year-over-year decrease. In the first nine months of 2023, the country’s total seafood export value slid 23 percent year over year, hitting USD 6.6

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

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,

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.

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