(seafood.vasep.com.vn) Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that seafood exports will gradually increase in March and April. In February, VHC's revenue to the European market increased by 116% to VND 194 billion.
Vinh Hoan Corporation (HOSE: VHC) announced its business results in February 2023 with export revenue of 758 billion VND, 29% lower than the same period, but up 69% compared to the previous month.
By product structure, pangasius exports continued to decrease by 47% over the same period, to 417 billion dong. Similarly, sales of other mixed products and shrimp crackers decreased by 24% and 19% respectively. In return, by-products, healthcare revenue increased by 46% and 96% respectively.
By export markets, all of Vinh Hoan's export markets including the US, China, Europe recovered from the previous month, with an increase of two to three digits.
However, compared to the second quarter of 2022, Vinh Hoan's export revenue to the US market decreased by 69%; to China also went down by 2-3%. The bright spot came from the European market, which revenue increased by 116% to VND 194 billion.
Related information, on March 1, VHC announced to receive the transfer of land use rights for aquaculture with the transfer amount of more than VND 15 billion. This is a farming land located in Nhon My and Long Giang communes, Cho Moi district, An Giang province with a total area of 80,960 m2.
VASEP believes that the import demand tends to slowly recover, especially in the Chinese market and many other small markets. The source of aquatic materials (shrimp, pangasius) will also increase in the next month, so exports in March and April will increase gradually compared to the first months of the year.
Forecast on Vietnam pangasius industry in 2023 - 2025
Compiled by Thuy Linh