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Stapimex to boost shrimp shipments to South Korea
April 26, 2012, 02:29 PM
(vasep.com.vn) In late March 2012, Soc Trang Seafood Joint Stock Company (Stapimex) has released its business report in 2011. In the previous year, the company sent abroad 11.5 thousand MT of shrimp products for a total of US$99.3 million, gaining VND25.6 billion of profit before tax.

According to Tran Van Pham, Director of Stapimex, whiteleg shrimp accounted for 50 percent in the company’s total export in 2011. In 2012, Stapimex will boost the species’s proportion to 60 percent.

Stapimex predicts that demand from main importing markets will become weak in the time of economic downturn. It also has to grapple with lack of raw shrimp for processing due to difficulties in shrimp farming.

Therefore, Stapimex expects to process 10 thousand MT of finished shrimp products to reach US$85 million of export revenue and VND27 billion of profit in 2012. The dividend yield will be fixed at 20 percent.

In 2011, the U.S. was the largest importer of Stapimex’s shrimp products, representing a half of total export turnover. Japan occupied the second position with 35 percent. In 2012, Stapimex will develop shrimp shipments to the South Korea when seeing stronger demand in this market.

Website: www.stapimex.com.vn

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