Camimex secures funding for sustainable shrimp farming

Camimex, a shrimp producer and exporter from Ca Mau, Vietnam, focused on sustainability, has secured debt funding from responsAbility-managed funds, including the newly launched Climate Smart Agriculture and Food Systems strategy. Vietcap Securities in Vietnam acted as the adviser for this debt transaction. The funding will facilitate Camimex growth of sustainable-farmed shrimp sales and promote farming methods with lower carbon emissions.

In conventional shrimp production, high on-farm energy use is the largest driver of emissions, followed by emissions from feed production. Camimex’s integrated mangrove shrimp system mitigates these issues by promoting natural feed and reducing the need for electricity required for water pumping and aeration.

Bringing Vietnamese produced sustainable shrimps to the global Market

Camimex operates across the entire shrimp value chain, from cultivation, farming, trading, processing, logistics, warehousing and direct export. Camimex is known for producing high-quality processed shrimp. In particular, it is a pioneer in the organic and sustainable production of black tiger shrimps (Panaues monodon), farmed in mangrove areas. Their organic black tiger shrimps are certified and meet the standards of Naturland, EU Organic, Bio Suisse and Canada Organic.

Mangrove conservation through sustainable aquaculture

The black tiger shrimps of Camimex are farmed in the mangrove region at the southernmost point of Vietnam, the Ca Mau region. This area is protected by state regulations, allowing farmers to sustain their livelihood while preserving at least 50% of the mangrove area on the land provided by the State. Camimex and its smallholder farmers practice integrated mangrove shrimp aquaculture, also known as silvo-aquaculture. This organic farming system rehabilitates mangrove forests by stocking shrimps in low-density ponds surrounded by mangrove trees, creating a relatively natural habitat. These shrimp naturally scavenge for food in this ecosystem and are not treated with antibiotics or chemicals.

Promoting sustainable and organic aquaculture

Since 2000, Camimex has promoted sustainable and organically farmed shrimps by smallholder farmers in Ca Mau. The company currently works with over 2,100 smallholder farmers who are under the organic standards group certification and collectively own more than 15,000ha mangrove farms. The premium from organic shrimp sales is shared between Camimex and the farmers, enhancing the living standards of participating farmers. Camimex employs a team of aquaculture specialists to regularly work with the smallholder farmers, providing knowledge and introducing new techniques.

Neha Baid, Head of Sustainable Food Debt APAC at responsAbility shares: “Currently, organic and sustainable shrimp form only a small percentage of global shrimp consumption but the demand for sustainably produced shrimp is rapidly growing. We are pleased to partner with a like-minded operator focused on producing better quality shrimp and improving the lives of local farmers. We believe Camimex can serve as an example to other producers worldwide, demonstrating that sustainable shrimp production can be successfully adopted as a commercially viable business model.”

Mr Dang Ngoc Son– CEO – Camimex Group said: "This funding marks a pivotal moment for Camimex as we continue our journey towards expanding sustainable and organic shrimp farming in Vietnam. We deeply appreciate the trust and commitment shown by responsAbility in backing our vision, and we are grateful for the support and guidance of Vietcap Securities in securing this partnership. Their expertise in green finance and dedication to promoting sustainable agriculture align perfectly with our mission to promote responsible aquaculture and enhance the livelihoods of our smallholder farmers. With this investment, we are not only able to grow our business but also set a new standard for environmentally friendly and socially responsible shrimp production. We look forward to bringing even more high-quality, sustainably farmed shrimp to the global market"

Mr Anh Le – Vietcap Securities JSC - Head of Debt Capital Market shared : "We are proud to have advised Camimex on this important debt transaction, which reflects our deep commitment to genuinely supporting businesses through proactive and effective financial solutions. This partnership will not only enable Camimex to expand its sustainable shrimp farming operations but also set a benchmark for responsible aquaculture practices in Vietnam. At Vietcap Securities, we believe in the potential of green finance to drive positive environmental and social impact, and this collaboration with Camimex truly embodies that vision."