The share price of Vinh Hoan, Vietnam’s leading pangasius exporter, has hit an all-time high.
On 15 April, the per-share price of the company’s stock, traded on the Ho Chi Minh Stock Exchange, was VND 104,600 (USD 4.60, EUR 4.20), almost triple its price from a year earlier.
The Cao Lanh City, Dong Thap Province-based company announced its total sales, including those from its Sa Giang subsidiary, rose 96 percent year-on-year to VND 1.37 trillion (USD 59.8 million, EUR 55.3 million) in March 2022. The U.S. remained its largest customer, with sales value of VND 651 billion (USD 28.4 million, EUR 26.2 million) in the month, up 161 percent year-on-year and accounting for 47.4 percent of its total sales.
Domestic sales represented Vinh Hoan’s second-largest market in March, with total sales – including Sa Giang’s shrimp chips and rice products – rising 100 percent year-on-year to VND 274 billion (USD 11.9 million, EUR 11.0 million).
Vinh Hoan’s exports to China lifted 71 percent to VND 169 billion (USD 7.4 million, EUR 6.8 million); and its sales to Europe were elevated to VND 162 billion (USD 7 million, EUR 6.5 million) in March, up 27 percent from a year ago.
Vinh Hoan earned VND 781 billion (USD 34 million, EUR 31.4 million) from pangasius sales in March, 160 percent higher year-on-year. Sales of its byproducts increased 46 percent year-on-year to VND 201 billion (USD 8.8 million, EUR 8.1 million). Products collectively labeled under the term “miscellaneous” represented VND 136 billion (USD 5.9 million, EUR 5.5 million) in March sales, up 685 percent year-on-year. And Vinh Hoan’s wellness product sales of VND 93 billion (USD 4 million, EUR 3.7 million) were up 87 percent year-on-year.
Compared with February, Vinh Hoan’s sales rose 28 percent in March, with sales to every one of its markets rising.
More broadly, Vietnam’s exports of pangasius continued to rise in March, at an estimated value of USD 261 million (EUR 241.4 million), up 80 percent year-on-year. In Q1 2022, the country shipped pangasius worth an estimated USD 646 million (EUR 597.5 million), an 88 percent increase year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
High demand for Vietnam’s seafood has resulted in a shortage of material for processing, resulting in an upward push on pangasius prices, VASEP said on 15 April. Farm-gate prices of pangasius in the Mekong Delta from 8 to 14 April were between VND 31,000 and VND 32,500 (USD 1.35 and USD 1.42, EUR 1.25 and EUR 1.31) per kilogram, up from between VND 30,000 and VND 32,000 (USD 1.30 and USD 1.40, EUR 1.20 and EUR 1.30) per kilogram from a month earlier.
Photo courtesy of Vinh Hoan
