MINH PHU SEAFOOD GROUP BUILDING A SUSTAINABLE, KIND ECO SYSTEM WITH RESPONSIBLE PRAWN VALUE CHAIN
As a member of Vietnam Organic Agriculture Association since 2018, Minh Phu has always actively participated and supported the Association’s activities, with an interest in organic and social and environmental goals. What makes Minh Phu different is that the production of products is not only based on ordinary consumption, but also aims at historical and cultural values and sustainable development goals such as ensuring food safety, environmental protection, balancing social benefits, towards sustainable development goals, and taking care of animal welfare.
Aim to build a sustainable ecosystem
Minh Phu is known as one of the leading seafood corporations in Vietnam. Minh Phu’s products are currently present in more than 50 countries and territories, with a turnover of over VND 10,000 billion per year.
After nearly 30 years of continuous development, up to now, Minh Phu Seafood Group has become a seafood corporation with a large seafood export turnover of the country, with regional and global scale. Minh Phu has not only built a nationwide consumption network but also expanded to major markets in the world such as the US, Canada, EU, Australia, etc.
On May 26, 2021 Vietnam Record Organization – VietKings officially recognized a record: Minh Phu Seafood Corporation JSC – The owner of the eco- organic Giant Tiger Prawn farming area in the largest Duoc (also named Rhizophora Apiculata) mangrove forest area in Vietnam (total area as of 2021 is 9,722 ha with 2,010 households).
On January 20, 2017, Minh Phu Seafood Corporation established Minh Phu Social Enterprise with social and environmental goals. Minh Phu social enterprise implemented projects to certify organic shrimp farming areas in mangrove forests in Ngoc Hien district, Ca Mau province in order to fulfill social responsibility, trace the product origin, sustainably develop livelihoods for prawn raising communities, raise awareness on environmental protection, protect and develop mangrove forests, purchase certified products, preserve and develop traditional forest prawn raising, promote the development of cultural values of prawn raising, develop brand image and enhance organic prawn as a specialty and high quality product, etc., contributing to the economic, cultural and social development of the locality.
The certifications that Minh Phu Seafood has achieved include EU ORGANIC, CANADA ORGANIC, SELVA SHRIMP, MANGROVES SHRIMP and SEAFOOD WATCH GREEN. This advantage has helped the company focus on technology investment, expand operations, improve product quality, enlarge market share, as well as strengthen its brand name in domestic and international markets.
To realize the goal of building a sustainable ecological system, Minh Phu has determined its core mission of constantly combining experience, creativity and responsibility throughout the entire end-to-end prawn production value chain, from the beginning until the end of the chain. Minh Phu’s mission is to introduce the global market the tastiest, freshest and most nutritious Vietnamese prawn products; and bring satisfaction and best experience on the dining table, in each meal for consumers.
Responsible and End-to-end prawn value chain
Minh Phu Seafood Corporation is taking on the responsibility of including roughly 20,000 Vietnamese small-scale prawn farmers into a sustainable and traceable alliance (according to Maisie Ganzler, Forbes magazine – a media brand present in the US in 1917, a “biology” on successful business stories, big ideas that changed the world outstanding entrepreneurs who created the powerful American economy).
In 2021, Minh Phu had its first 500 farming households to meet the green standard – Best Choices of Seafood Watch, an organization authorized by the US Department of Commerce in inspecting, monitoring and evaluating seafood quality before exporting to the US. The green standard is the best choice rating, followed by yellow (a good choice) and finally is red (not an advisory choice), according to Seafood Watch’s rating.
Although the trading of seafood products still suffered from the impacts of the COVID-19 pandemic, according to analysts, thanks to the push from the FTA, the shrimp industry is, however, forecasted to continue to grow strongly.
In 2022, the US is still the largest market for Vietnamese shrimp. According to VASEP, the Vietnam Association of Seafood Exporters and Producers, in February 2022, shrimp exports amounted to USD 237 million, an increase of 50% over the same period last year, bringing the value of shrimp exports in the first 2 months of 2022 to USD 550 million, an increase of 46% over the same period last year.
With the goal of building a sustainable, kind ecosystem, over the years, Minh Phu has constantly strived to enhance its inner strength, expand cooperation with external partners, build an end-to-end value chain of prawn production, based on two main criteria:
- Not only bringing high economic efficiency; but also ensuring the harmonized benefits for all
- Each individual and unit in each production stage must clearly understand and have the highest responsibility for their work and products.
Therefore, Minh Phu’s products not only meet the highest quality standards, but also bring synthesized values, added values to all stakeholders, marking Vietnam on the world map as a top quality shrimp supplier, making a difference that is not easy to replicate or compete.
Vietnam Organic Agriculture Association (VOAA) is very proud of the achievements and efforts of Minh Phu Seafood Corporation, hoping that Minh Phu’s story will be a inspiration to motivate organic lovers and true organic producers to constantly put efforts for the sustainable development of the organic agriculture and the ecological environment
