A major COVID-19 outbreak in Vietnam has did not impact Minh Phu’s export activities in July, according to CEO Le Van Quang.
The company – one of Vietnam’s biggest seafood producers – exported 6,382 metric tons (MT) of shrimp in July, worth USD 80.35 million (EUR 68.4 million), with those totals soaring 14.5 percent and 33 percent year-over-year, respectively.
Vietnam is dealing with the country’s largest-ever outbreak of COVID-19. More than 200,000 residents have contracted the virus since 27 April, with most cases in the country’s south. Beginning in mid- July, Vietnam’s government has instituted lockdowns in dozens of southern provinces and municipalities, and on 31 July, Prime Minister Pham Minh Chinh extended a federally mandated lockdown in 19 provinces and cities, including Ho Chi Minh City – Vietnam’s main gateway for seafood exports – and the Mekong Delta, the country’s primary region for seafood production, by another two weeks through mid-August.
During the lockdowns, Minh Phu’s processing plants and other selected factories and farms have been allowed to remain open, but their workers must work, eat, and sleep within the plants and farms and completely isolate from the public and their families.
Quang said in the second half of July, Minh Phu’s operations in Ca Mau Province were not affected as badly as the country’s shrimp industry in other areas, allowing it to continue to serve a thriving export market. More than 60 percent Minh Phu’s total shrimp exports were produced by the Minh Phu Ca Mau plant in Ca Mau Province, with the remainder supplied by the Minh Phu Hau Giang in Hau Giang Province. Both are located in the Mekong Delta.
However, Quang told SeafoodSource he expected a dip in August production, with the company finding it difficult to increase production capacity during the lockdowns.
In the first seven months of 2021, Minh Phu exported 31,305 MT of shrimp, an increase of 19 percent year-on-year, worth USD 368.7 million (EUR 313.7 million), up 28 percent year-on-year.
The United States was the largest buyer of shrimp from Minh Phu in the period, purchasing 8,410 MT worth USD 112.3 million (EUR 95.5 million), up 14 percent and 39 percent, respectively.
Japan was Minh Phu’s second-largest export market, but Minh Phu’s sales there have dropped thus far in 2021. Japan has purchased 6,443 MT of shrimp valued at USD 76.5 million (EUR 65 million) thus far this year, down 5 percent and 3 percent year-on-year, respectively.
The European Union has bought 4,196 MT and USD 45 million (EUR 38.3 million), up 50 percent and 52 percent, respectively. The ANZ region, comprised of Australia and New Zealand, purchased 3,766 MT of shrimp worth USD 41.8 million (EUR 35.6 million), up 112 percent and 128 percent, respectively.
Photo courtesy of Minh Phu Seafood
