Vinh Hoan, Vietnam’s leading pangasius exporter, increasedits October earnings through more exports to the United States, according to a company update.
The Cao Lanh City, Vietnam-based firm achieved VND 780 billion (USD 34.4 million, EUR 30 million) in exports in the month, up 6 percent year-on-year. Its U.S. sales jumped 95 percent year-on-year to VND 473 billion (USD 20.9 million, EUR 18.3 million) in October, though its sales to other markets declined.
Its sales to China fell 53 percent year-over-year to VND 99 billion (USD 4.4 million, EUR 3.8 million), and its European sales dropped 15 percent year-over-year to VND 59 billion (USD 2.6 million, EUR 2.3 million). The company’s sales to other markets also fell 30 percent to VND 15 billion (USD 661,000, EUR 579,000 million).
Vinh Hoan reported farm-gate prices of pangasius in the Mekong Delta in the week from 28 October to 3 November were at between VND 22,500 and VND 23,000 (USD 1.00 and USD 1.01, EUR 0.87 and EUR 0.9) per kilogram, up slightly from the previous week. The increase was attributed to the increased purchases by pangasius processors, which were ramping up production to meet orders from foreign customers.
Vinh Hoan earned VND 596 billion (USD 26.3 million, EUR 23 million) from its pangasius exports in October, an increase of 11 percent year-on-year. Its byproduct sales in the month also surged 18 percent year-on-year to VND 121 billion (USD 5.3 million, EUR 4.7 million) while sales of its wellness product exports edged down 2 percent year-on-year to VND 45 billion (USD 2 million, EUR 1.7 million).
Compared with September, the company’s export value in October rose 19 percent, with sales to the U.S. and China rising, but the value of the exports to Europe and other markets decreased, Vinh Hoan said.
In October, its Sa Giang subsidiary posted sales value of VND 28.5 billion (USD 1.3 million, EUR 1.1 million), up 19 percent from September. Those sales were comprised of VND 9.9 billion (USD 436,600, EUR 382,000) from Vietnam, 11 percent higher month-on-month; and VND 16.7 billion (USD 735,700, EUR 643,700) from Europe, 25 percent higher than September.
Sa Giang’s shrimp chips sales soared 33 percent month-on-month to VND 23.24 billion (USD 1.03 million, EUR 897,000) in October.
Photo courtesy of Vinh Hoan
