Vietnam’s leading pangasius exporter, Vinh Hoan, recorded higher sales to the U.S. and China in August.
The company shipped VND 705 billion (USD 31 million, EUR 26.4 million) worth of seafood products in the month, up 14 percent year-on-year, it said in an update.
The U.S. remained the largest buyer of seafood products from Vinh Hoan, importing products worth VND 294 billion (USD 12.9 million, EUR 11 million) in August, a jump of 41 percent year-on-year. It was followed by China, which purchased VND 141 billion (USD 6.2 million, EUR 5.3 million) of Vinh Hoan's pangasius products, 24 higher percent year-on-year. The company’s sales to Europe, however, declined by 20 percent to VND 93 billion (USD 4.1 million, EUR 3.5 million). Vinh Hoan’s exports to its other markets remained unchanged at VND 177 billion (USD 7.8 million, EUR 6.6 million).
Vinh Hoan earned VND 477 billion (USD 21 million, EUR 17.9 million) from its pangasius exports in August, an increase of 16 percent year-on-year. The company’s byproducts sales in the month also grew 19 percent year-on-year to VND 135 billion (USD 5.9 million, EUR 5.1 million), while its wellness product exports rose 27 percent to VND 68 billion (USD 3 million, EUR 2.6 million).
Compared with July, the value Vinh Hoan’s exports in August fell 8 percent, with sales to U.S. and Europe contracting by 11 percent and 27 percent, respectively. The value of its exports to China, however, increased 16 percent from July. The decline in the month-on-month sales was attributed to lower processing capacity of Vinh Hoan’s factories as Vietnam entered a period of lockdown due to a COVID-19 outbreak, the company said.
In the first eight months of 2021, Vinh Hoan exported seafood products worth VND 5.5 trillion (USD 239.8 million, EUR 204.5 million), up 20.2 percent from VND 4.5 trillion (USD 200 million, EUR 170.2 million) in the same period last year.
In August, Vinh Hoan’s Sa Giang subsidiary posted sales of VND 30.4 billion (USD 1.33 million, EUR 1.14 million), down 34 percent from July, comprised of VND 8.11 billion (USD 356,100, EUR 303,700) in domestic sales, which was up 63 month-on-month; and VND 19.6 billion (USD 861,500, EUR 734,700) in sales to Europe, down 48 percent from July. Sa Giang’s shrimp chips sales dropped 33 percent month-on-month to VND 24.3 billion (USD 1.1 million, EUR 910,000) in August.
Photo courtesy of Vinh Hoan
