Vinh Hoan, Vietnam’s top pangasius exporter, saw its sales rise in all of its major markets in January.
Vinh Hoan exported VND 632 billion (USD 27.4 million, EUR 22.7 million) worth of seafood products in the month, an increase of 31 percent year-on-year, the company said in its January update. The U.S. remained its top buyer, with sales value of VND 266 billion (USD 11.5 million, EUR 9.6 million), up 10 percent from the same month in 2020, followed by the European Union, which bought VND 109 billion (USD 4.7 million, EUR 3.9 million) of pangasius from Vinh Hoan in the month, 32 percent higher year-on-year. And Vinh Hoan’s sales to the China in January surged 180 percent from a year earlier to VND 42 billion (USD 1.8 million, EUR 1.5 million).
Compared to December, the company’s export value in January rose 17 percent. Vinh Hoan said the month-on-month growth in sales to the U.S., E.U., and other markets has partly offset the declines in China, which plunged 70 percent month-on-month due to difficulties accessing that market.
Vinh Hoan gained VND 441 billion (USD 19.1 million, EUR 15.8 million) from the exports of pangasius products, up 15 percent year-on-year and up 41 percent from December. Its byproducts sales in the month also jumped to VND 91 billion (USD 3.9 million, EUR 2.3 million), up 126 percent year-on-year but down 40 percent month-on-month. The company’s wellness product exports were worth VND 71 billion (USD 3.1 million, EUR 2.6 million), 123 percent higher year-on-year and an increase of 51 percent from December.
Local securities firm Phu Hung said in January Vinh Hoan is more capable of dealing with adverse impacts from the COVID-19 pandemic than other exporters in the industry. It forecasted Vinh Hoan to earn VND 8.39 trillion (USD 363.4 million, EUR 301.3 million) of sales this year, up 10.9 percent from 2020, and predicted a 5.5 year-on-year rise in its net profits to VND 941 billion (USD 40.8 million, EUR 33.8 million).
Photo courtesy of Vinh Hoan
