Vietnam’s leading pangasius exporter, Vinh Hoan, was able to increase its sales in June partly thanks to improvements in demand in the United States.
The company exported VND 713 billion (USD 30.9 million, EUR 26.1 million) worth of seafood products in the month, up 15 percent year-on-year.
Demand in the U.S., a key market for Vinh Hoan’s products, surged in line with the reopening of restaurants and the foodservice sector. However, sales to China and Europe fell due to the re-emergence of the COVID-19 Delta variant, the company said.
The value of exports to the U.S. grew 77 percent year-on-year to VND 298 billion (USD 12.9 million, EUR 10.9 million). That total was followed by China, which purchased VND 109 billion (USD 4.7 million, EUR 4 million) worth of pangasius products from the Vietnamese company in June, dropping 12 percent year-on-year. The company’s sales to the Europe also contracted 25 percent to VND 100 billion (USD 4.3 million, EUR 3.7 million).
Vinh Hoan earned VND 478 billion (USD 20.7 million, EUR 17.5 million) from the exports of pangasius products in June, rising 16 percent year-on-year. Its byproducts sales in the month also surged 46 percent year-on-year to VND 161 billion (USD 7 million, EUR 5.9 million). The company’s wellness product exports were worth VND 43 billion (USD 1.9 million, EUR 1.6 million), shrinking 43 percent from June 2020.
Compared with May, the export value in June fell 4 percent, with sales to the U.S., China and Europe all declining, Vinh Hoan said.
In June, its Sa Giang subsidiary posted sales value of VND 30.94 billion (USD 1.34 million, EUR 1.13 million), up 8 percent from May. Those sales comprised VND 4.01 billion (USD 174,000, EUR 147,000) from Vietnam, 51 percent lower month-on-month; and VND 25.33 billion (USD 1.1 million, EUR 927,000) from Europe, up 55 percent from May.
Sa Giang’s shrimp chips sales grew 7 percent month-on-month to VND 23.9 billion (USD 1 million, EUR 874,000) in June.
The U.S. Department of Commerce (DOC) last month revised a previous preliminary decision and will not impose any antidumping duty for pangasius products from Vinh Hoan and another top exporter from Vietnam, Navico, in its final review.
Photo courtesy of Vinh Hoan
