Vietnam’s leading pangasius exporter, Vinh Hoan, continued to see its sales grow significantly in May due to higher demand in key markets.
The company exported VND 743 billion (USD 32.3 million, EUR 26.6 million) worth of seafood products in the month, soaring 35 percent year-on-year. The increase was attributed to higher demand in the United States, China, and other markets after the COVID-19 outbreak was contained in these countries thanks to widespread vaccinations, the company said.
Sales to the U.S., its biggest market, rose 188 percent year-on-year to VND 314 billion (USD 13.7 million, EUR 11.2 million). It was followed by China, which purchased VND 120 billion (USD 5.2 million, EUR 4.3 million) of pangasius products from the Vietnamese company in May, surging 9 percent year-on-year. The company’s sales to Europe in the month, however, fell 22 percent to VND 112 billion (USD 4.9 million, EUR 4.0 million).
Vinh Hoan earned VND 515 billion (USD 22.4 million, EUR 18.4 million) from the exports of pangasius products in May, 46 percent higher year-on-year. Its byproducts sales in the month also rose 51 percent year-on-year to VND 147 billion (USD 6.4 million, EUR 5.3 million). The company’s wellness product exports were worth VND 50 billion (USD 2.2 million, EUR 1.8 million), dropping 26 percent from May last year.
Compared with April, the export value in May slid 7 percent, with sales to the U.S. growing while sales to China, Europe, and other markets fell, the company said.
In May, its Sa Giang subsidiary posted sales value of VND 28.74 billion (USD 1.25 million, EUR 1.0 million), down 17 percent from April, comprising VND 8.14 billion (USD 350,000, EUR 290,000) from Vietnam, a decline of 53 percent month-on-month; and VND 16.33 billion (USD 710,000, EUR 580,000) from Europe, up 8 percent from April.
Sa Giang’s shrimp chips sales went down 15 percent month-on-month to VND 22.3 billion (USD 970,000, EUR 800,000) in May.
Data from Vietnam’s Ministry of Industry and Trade showed that the farm-gate price of pangasius on 27 May was between VND 21,500 and VND 22,000 (USD 0.94 and USD 0.96, EUR 0.77 and EUR 0.79) per kilogram, up by between VND 3,500 and VND 3,700 (USD 0.15 and USD 0.16, EUR 0.12 and EUR 0.13) per kilogram from the same month last year.
