Ca Mau, Vietnam-based Camimex Group expects to achieve positive financial results in 2020 despite adverse impacts from the global outbreak of the coronavirus.
The company aims to produce 6,400 metric tons (MT) of shrimp in 2020, up 43.8 percent from 2019. Caminex expects that production to bring in an export value of USD 60 million (EUR 53.3 million), which would bring its earnings up 51.9 percent year-on-year, it said in a report prepared for its annual stakeholder meeting. scheduled later this month.
The company recorded an export value of USD 6.53 million (EUR 5.8 million) in April, up 186 percent from April 2019. Of its total shipments, 70 percent were shipped to the European Union, with the rest going to South Korea, Canada, and Japan. Camimex expects its sales value to be kept between USD 7 million to USD 8 million (EUR 6.2 million to EUR 7 million) per month in May and June, based on the contracts it has signed.
The company has a “strong network” of customers in Europe, North America, South Korea, and Japan. Many customers postponed receiving cargoes in the first quarter but deliveries resumed since April, Caminex Deputy Director Dang Ngoc Son told a local news outlet in April.
Camimex exported shrimp worth USD 39.5 million (EUR 35 million) last year, comprising USD 23.2 million (EUR 20.6 million) from Europe, or 58.7 percent of the total; USD 9.1 million (EUR 8 million) from South Korea; and USD 3 million (EUR 2.7 million) from Canada.
It expects to record a total sales value of VND 1.41 trillion (USD 60.3 million, EUR 53.6 million) this year, up 48.4 percent year-on-year; and a net profit of VND 90 billion (USD 3.9 million, EUR 3.4 million), 15.8 percent higher than last year.
This year, the company plans to raise its total processing capacity to 20,000 MT per year, from a current 15,000 MT per year.
It currently has two cold-storage facilities in Ca Mau province and Ho Chi Minh City, with the combined capacity of 2,000 pallets. Camimex said it will add more cold-storage capacity this year.
The company was established in Ca Mau in 1977. Its main products include organic shrimp, black tiger shrimp, and vannamei.
Camimex is one of several shrimp companies in Vietnam which have been reaping the benefits of the country’s successful containment of the COVID-19 outbreak.
