Vinh Hoan’s sales value rises for third month in a row
Vietnam’s leading pangasius exporter, Vinh Hoan, saw its month-on-month export value increase for the third month in a row in November, thanks to rising demand ahead of seasonal holidays, the company said in its November update.
Vinh Hoan exported pangasius worth USD 33 million (EUR 29.8 million) in November, surging 17.9 percent from USD 28 million (EUR 25.2 million) in October. The export value in November, however, was still 18.2 percent lower year-on-year, as 2018 was the year of high sales growth for Vinh Hoan.
Of its total sales in November, the export value of frozen fillet products increased 8 percent month-on-month and the export value of collagen and gelatin was up 5 percent against October.
Vinh Hoan said its sales of value-added products, such as Green Chilli Grilled Pangasius, Kabayaki Pangasius, and Summer Kabayaki Pangasius Salad, went up 32 percent month-on-month in November, while the export value of fish meal and fish oil by-products to China also rose from October.
However, Vinh Hoan’s improved performance in November failed to help the pangasius exports of Vietnam avoid another month of negative growth.
Vietnam exported pangasius worth nearly USD 175 million (EUR 157.9 million) in November, down 20 percent from the same month in 2018, stretching the country's export decline to nine consecutive months, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
Vinh Hoan said exports of pangasius from Vietnam to the United States fell in the first 11 months but the shipments are expected to rebound to serve the seasonal holiday market.
Vietnam's pangasius sales value to the European Union also dropped slightly, despite a significant decline in prices. This signaled that more volume has been shipped to the E.U. this year than in 2018.
Exports to China (including Hong Kong) still witnessed high growth in the period thanks to the growing demand due to the rising popularity of pangasius among Chinese consumers, said Vinh Hoan.
Logo courtesy of Toan Dao/SeafoodSource