Fimex VN: Export turnover reached US$10.6 million
(seafood.vasep.com.vn) In May 2016, the shortage of raw materials and more purchases from Chinese dealers pushed raw shrimp price up. Processed shrimp production of Sao Ta Foods Joint Stock Company (Fimex VN - FMC) reached 1,007 MT, compared to 1,010 MT of the same period last year. Besides, sales of the company hit US$10.6 million, compared to US$11 million in the same period of 2015.
Mr. Ho Quoc Luc, Managing Director of FMC, had given his view on the Brexit event. By this time, it is too early to assess the effect of Brexit on FMC’s business activities in particular and Vietnamese shrimp industry in general.
A depreciation in British pound and euro after Brexit had made import prices into the UK and the EU increase. Meanwhile, JPY and USD rose up, that is good for FMC because 80% of its market share are valued at JPY and USD. However, to increase its competitiveness and operational efficiency, FMC will adjust its markets such as consolidating the segment of customers in the UK and the EU, while seeking more opportunities in Japan, Canada and Korea.
Website: www.fimexvn.com
Compiled by Dieu Thuy