STRENGTH
- We have a capable and experiential administration team, skillful workers, synchronous infrastructure, and high processing level;
- Core values are effectively spreading; and there is a firm foundation for CSR and business ethic performance;
- Our brand has good reputation, and our products are stable in quality and rich in design that are trusted by our customers in all active markets;
- The quality management system is always updated to satisfy all customer’s requirements;
- Our plants locate near to the big farming region, and we also have our own farm which is set up with private effective farming process to ensure sufficient raw material supply for production;
- We have high capable traceability system;
- Financial soundness is also one of our strengths.
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WEAKNESS
- We are involving in a heavy industry, so it is difficult for us to attract labor. The movement of workers from the shrimp industry to the others causes a usual labor shortage problem especially in peak harvest season;
- Costs of farming and processing shrimp are still high because the inputs have an uptrend while selling prices cannot increase equivalently, and exchange rate is kept stable. Therefore, competitiveness becomes weaker.
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OPPORTUNITY
- Global consumers trend to buy more seafood and vegetable products than terrestrial animal products;
- Shrimp supplies are increasing, so there is a good opportunity to promote business growth;
- FTAs that have been signed are levers to lift up exports;
- The shrimp industry is having proper care from the Government;
- The rapid development of technology helps to increase productivity and efficiency in shrimp farming.
- Climate change has bad impacts in general, but it provides favorable condition to shrimp farming.
- We can make use of advantageous situation to push up shrimp exports because other major shrimp supply countries including India, Ecuador, and Thailand are slowed down due to impact of Covid-19.
- The US-China Trade War is providing an opportunity for us to develop breaded shrimp businesses.
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THREAT
- The requirements of food safety, product quality, product design and traceability are constantly upgraded by the consumers, and the pressure of competitive prices becomes heavier day by day;
- The shrimp import countries always strengthen their technical barriers;
- FTAs are challenges sometimes in a narrow range, and the Anti-Dumping Duty imposed by US is always a potential risk;
- Shrimp farming is conducted mainly in small scales and non-focused, so it is difficult to control and riskier. The infrastructure of shrimp farming is running behind developing demand;
- Inputs in shrimp farming and transportation costs still high;
- The competition for raw material supplies is severe especially during off-seasons;
- The movement of workers from the shrimp industry to other industries or services put the shrimp industry in a constant labor shortage condition.
- The resonance potential of Covid-19 complicated spreading and vulnerability of global supply chain creates many obstacles to production and export activities.
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