Vietnam’s top pangasius exporter, Vinh Hoan, saw its export value in March surge in all major markets compared to February, the company said in its March update.
Vinh Hoan shipped VND 668 billion (USD 28.9 million, EUR 24.0 million) worth of seafood products in the month, growing 53 percent month-on-month. Vinh Hoan attributed the increase in sales to the recovery in demand in all markets.
The U.S. remained Vinh Hoan’s top export destination, with sales value of VND 247 billion (USD 10.7 million, EUR 8.9 million), a rise of 27 percent from February. It was followed by Europe, which purchased VND 112 billion (USD 4.84 million, EUR 4.0 million) of pangasius products from the Vietnamese company in the month, 64 percent higher month-on-month. The company’s sales to China in March also soared 139 percent from February to VND 99 billion (USD 4.3 million, EUR 3.6 million).
Vinh Hoan earned VND 452 billion (USD 19.5 million, EUR 16.3 million) from the exports of pangasius products in March, up 49 percent month-on-month. Its byproducts sales in the month also rose 91 percent month-on-month to VND 138 billion (USD 5.9 million, EUR 4.9 million). The company’s wellness product exports were worth VND 50 billion (USD 2.2 million, EUR 1.8 million), an increase of 44 percent from February.
Compared with March 2020, the sales value in March this year slightly grew at 1 percent, with the recovery of 134 percent in China being partly offset by the declines of 15 percent in the U.S. and 10 percent in Europe, Vinh Hoan said.
In March, its Sa Giang subsidiary achieved sales value of VND 34.7 billion (USD 1.5 million, EUR 1.3 million), up 111 percent from February, comprised of VND 15.5 billion (USD 670,000, EUR 560,000) from Europe, 102 percent higher month-on-month; and VND 11.7 billion (USD 510,000, EUR 420,000) from Vietnam, up 46 percent from February.
Sa Giang’s shrimp chips sales went up 83 percent month-on-month to VND 24.9 billion (USD 1.1 million, EUR 900,000) in March.
Vinh Hoan said last week it will invest VND 1.5 trillion (USD 65 million, EUR 54.6 million) in projects directed at operational growth in 2021, and buy an additional 1.817 million shares in Sa Giang to raise its ownership stake to 76.72 percent.
