Vietnam’s leading pangasius exporter, Vinh Hoan, saw its export value rise in September partly thanks to an increase in its sales to the United States and Europe.
The company exported VND 658 billion (USD 28.9 million, EUR 24.9 million) worth of seafood products in the month, up 18 percent year-on-year, it said in its latest update.
Vinh Hoan said its growth in U.S. and European sales was “impressive” due to high demand in these markets, which helped offset a decline in its sales to China.
The value of Vinh Hoan's exports to the U.S. soared 79 percent year-on-year to VND 344 billion (USD 15.1 million, EUR 13 million). Sales to Europe also increased 11 percent year-on-year to VND 74 billion (USD 3.3 million, EUR 2.8 million) in the month.
However, the value of its exports to China dropped 38 percent from a year earlier to VND 84 billion (USD 3.7 million, EUR 3.2 million). The company’s sales to its remaining markets also contracted 2 percent to VND 156 billion (USD 6.8 million, EUR 5.9 million).
Vinh Hoan earned VND 471 billion (USD 20.7 million, EUR 17.8 million) from pangasius exports in September, 36 percent higher year-on-year. Its byproduct sales in the month dropped 9 percent year-on-year to VND 128 billion (USD 5.6 million, EUR 4.8 million), while its wellness product exports jumped 36 percent year-on-year to VND 38 billion (USD 1.7 million, EUR 1.4 million).
Compared with August, Vinh Hoan's exports dropped 7 percent in value in September, with sales to the U.S. growing but the value of its exports to China, Europe, and other markets dropping, Vinh Hoan said,. It attributed the declines to its lower production capacity caused by an outbreak of COVID-19 in Vietnam, which resulted in significant supply-chain issues.
In September, Vinh Hoan's Sa Giang subsidiary posted sales value of VND 23.93 billion (USD 1 million, EUR 910,000), down 21 percent from August. Those sales comprised VND 8.88 billion (USD 386,000, EUR 333,000) from Vietnam, 9 percent higher month-on-month; and VND 13.33 billion (USD 585,000, EUR 504,000) from Europe, down 32 percent from August.
Sa Giang’s shrimp chips sales shrank 21 percent month-on-month to VND 17.46 billion (USD 766,000, EUR 660,000) in September.
Photo courtesy of Vinh Hoan
