return icon

Processing seafood by-products – the billion-USD industry

The country’s seafood industry would have $4-5 billion more each year if byproducts were used, say experts.

A report shows that total seafood output in Vietnam is 7 million tons per annum, of which by-products account for 15-20 percent, or 1 million tons. This could be a valuable source of input materials to make products with high added value.




According to the General Department of Fisheries, the seafood by-product processing industry makes up $275 million, a very low figure if noting that the figure could be up to $4-5 billion.

According to Phan Thanh Loc, general director of VietNam Food, Vietnam has 320 million tons of shrimp by-products. If the by-products can be exploited fully, it can make up at least 10 percent of the shrimp industry’s value.

However, currently, enterprises only use a part of the by-products.

Vietnam can recover 56 percent from by-products, while the average proportion in the world is 75 percent and 95 percent in developed countries.

Regarding the ability to create added value, in Norway, the finished product can create the value 28 times higher than the input product’s value. In Vietnam, the figure is just 2-3 times.

Vietnam can recover 56 percent from by-products, while the average proportion in the world is 75 percent and 95 percent in developed countries.

Loc commented that Vietnam is ‘throwing money through the window’ if it cannot fully exploit the by-products. If Vietnam’s businesses buy shrimp heads and shells just to make animal feed, the economic efficiency will be very modest.

They can earn several thousands of dong per kilogram when selling one kilogram of shrimp head to animal feed producers. But if the material is used to extract attractants in food, industries and animal feed, the selling price could be VND20,000, or five times higher.

If the by-products are used to make shrimp powder and shrimp salt, the selling price would be up to VND100,000. If it is used to make chitosan used for food wrap film, artificial plastic and other items, the price would be $400-500 per kilogram

Experts can also see high value from fish by-products. Vinh Hoan Collagen’s director Vo Phu Duc said Vinh Hoan is the first company in Vietnam to make fish powder for animal feed from fish head, intestines, bones and tails. In 2015, the company built a plant that makes collagen and gelatin from catfish skin.

Tran Dinh Luan, deputy general director of the General Department of Fisheries, said this is a ‘bottleneck’ in the seafood value chain.

He said they need modern technologies and research to develop high-added value products.

Meanwhile, only one or two Vietnam’s enterpriss have the technologies create high-value products such as chitin, chitosan and hydrolized protein used to make functional food.

Kim Chi 


Mitsui raises Vietnam's Minh Phu Seafood stake to 35 percent

Mitsui raises Vietnam's Minh Phu Seafood stake to 35 percent

MPM Investments Pte Ltd, a subsidiary of Japan’s Mitsui & Co Ltd, has acquired 60 million shares in Minh Phu Seafood Joint Stock Company (MPC) to raise its stake in the Vietnamese shrimp processor to 35.1 percent.  

Vietnam seafood exports to CPTPP member countries up 15 percent

Vietnam seafood exports to CPTPP member countries up 15 percent

Vietnam’s seafood exports to the other 10 members of the CPTPP have increased sharply since the agreement took effect earlier this year, according to the Ministry of Agriculture and Rural Development.  





Positive prospects for Vietnam’s stock market this year


Prime Minister launches New Year tree planting festival

Vietnam supports expansion of UN Security Council

Vietnam supports the expansion of the United Nations Security Council (UNSC) in terms of both permanent and non-permanent members, with the fair representation of groups of nations, especially underrepresented ones, taken into account.

About 9 million Vietnamese travel during Tet

The tourism sector served about 9 million domestic tourists in the week-long Lunar New Year (Tet) holiday, up about 47.5% over the previous Tet, according to the Vietnam National Administration of Tourism (VNAT).

Five players compete for 2022 Vietnam Golden Ball Awards

The top 5 players in the final round of the Vietnam Golden Ball Award 2022 have been officially revealed.

Vietnam's steel industry to gradually recover in 2023

Domestic steel demand is expected to keep falling due to the property market slump and tightened monetary policy, economic downturn in many export markets and a rise in supply making the outlook for the industry in 2023 poor, analysts said.

Railway network aims to turn tide against low-cost airlines, cars with improved service

The railway industry is striving to regain its past glory after decades of struggling to compete with low-cost airlines and flexible car transport.

HCM City to pilot issuance of electronic civil status records

The HCM City Department of Justice has proposed the Ministry of Justice pilot the issuance of electronic civil status records instead of a paper version as part of efforts to enhance satisfaction with civil status registration.

Spiritual sites to visit in spring around Hanoi

Some of our recommendations might be the perfect place for you and your loved ones to spend the spring.

Huong Pagoda crowded on the first day of spring festival 2023

Despite the cold weather, thousands of people flocked to the Huong (Perfume) Pagoda Festival in Huong Son commune, Hanoi’s outlying district of My Duc on the opening day to celebrate the new year.

Data centers: Vietnam's bright spot

Under the impact of Covid-19, many activities have moved to online platforms and amount of data uploaded has been increasing.

More Vietnamese scientists returning to home country

More Vietnamese scientists decided to return to the country with a desire to devote themselves to their homeland’s growth.

Hoang to defend WBA belt in hometown next month

Truong Dinh Hoang announced the bout on his Facebook page on February 26, though the challenger has yet to be named.

Sea tourism and expectations for a 'made in Vietnam' fleet

The number of cruise tourists accounts for only 2-3% of the total number of international visitors to Vietnam.

Hanoi’s tourism sector rakes in over VND1 trillion during Tet holiday

The capital expects to welcome roughly 332,000 visitors, including 32,000 international guests, during the Lunar New Year holiday from January 21 to January 26, with total revenue anticipated to reach more than VND1 trillion.