CAMIMEX JOINT STOCK COMPANY

Established in 2013 in Ca Mau Province, the subject is engaged in processing seafood, namely shrimp products. Raw shrimp for processing are mainly collected from local farms. Besides, it also imports a part from India. Products are exported to EU, Canada, USA, South Korea, Japan, Middle East countries, Australia.

2022 is a successful year for Vietnam's seafood industry in general and shrimp in particular. Vietnam's shrimp export turnover in 2022 set a record when it reached USD 4.3 billion, an increase of more than 11% compared to 2021. This explains the subject's strong growth in business results in the year 2022. Entering 2023, world market demand has decreased sharply under the impact of high inflation and Vietnamese shrimp has to compete fiercely with shrimp supplies from Ecuador and India. Vietnam's shrimp export turnover reached USD 3.38 billion, down 21.7% compared to 2022. The proportion of shrimp in Vietnam's total seafood exports in 2023 decreased in both quantity and value compared to 2022. This explains the subject's declining business results in 2023. 

Vietnam's seafood exports by the end of the first quarter of 2024 are estimated to reach nearly USD 2 billion, 8% higher than the same period last year. Of which, shrimp exports reached more than USD 690 million, up 15% over the same period last year. The US, Japan and China - Hong Kong are the top 3 largest seafood import markets. In particular, exports to the US had a much stronger breakthrough, with a growth rate of 16% reaching USD 330 million, exports to Japan were equivalent to the same period, while exports to China - Hong Kong increased by 15%. Vietnam's seafood industry also expects that after the International Seafood Fairs in the US, EU, and Japan, orders will improve and export prices will gradually improve. 

There may be new opportunities for Vietnamese seafood when Ecuadorian and Indian shrimp are being warned about antibiotics and labor issues. However, the problems that the Indian shrimp industry is facing such as labor, environment, and antibiotics are also lessons for Vietnamese businesses to be cautious and seriously comply with the regulations of the import market as well as domestic regulations to avoid barriers and protectionist moves in the market.