Vietnam’s largest shrimp producer, Minh Phu Seafood Corp., has reached a new record for its export volume in September, following its previous all-time high in August.
Minh Phu exported 8,436 metric tons (MT) of shrimp in the month, soaring 36.2 percent year-on-year, the company said last week.
The company’s production volume rose almost one percent compared with 8,354 MT in August, which Minh Phu said at the time was the highest export volume in its history.
In all, the company shipped 47,791 MT in the first nine months of this year, up 21.1 percent from the same period last year. For 2018, Minh Phu has targeted the goal of exporting 63,000 MT of shrimp worth USD 800 million (EUR 685.4 million), which would be up 15 percent from 2017.
The company’s September exports were worth USD 90.2 million (EUR 78.7 million), 16.3 percent higher than the same month in 2017. The United States remained the largest buyer of Minh Phu’s products in terms of sales value, with USD 45.4 million (EUR 39.6 million) in purchases in the month, up 26 percent year-on-year. In second place was Japan, with USD 15.5 million (EUR 13.6 million) in purchases. In third, with USD 5.8 million (EUR 5.1 million) in sales, was the European Union, followed by South Korea in fourth at USD 4 million (EUR 3.5 million).
High demand for Minh Phu’s products this year has resulted in several export contracts signed between May and September and delivered between July and mid-November, Le Van Quang, chairman and CEO of Minh Phu, told SeafoodSource last month.
Photo courtesy of Minh Phu
