FIMEX VN sales increased by 31% in 5 months of 2022

FIMEX VN - a member unit of the PAN Group has announced its business situation in May 2022.

Specifically, FIMEX VN’s finished shrimp product ouput reached 2,000 tons – a decrease of 7 tons compared to the same period in 2021. In addition, agricultural product output reached 317 tons – recorded a 173% increase over the same period.

The sales of the company reached approximately 22.2 million USD (around 510.6 billion VND), an increase of 35% comparing to the same period last year. After the first five months of the year, it reached 99.8 million USD (around 2.295 billion VND), increased 31% with the last year’s same period.

Regarding farmed shrimp products, the company is in the process of harvesting, and is expected to finish by June. Afterward, they will begin to do shrimp farming for the second harvest. This year’s shrimp aquaculture encountered some difficulties due to the pandemic, however, the outcomes are satisfactory, resulting in the reduction of cost and an increase in profit for the second quarter of the year. The new shrimp farming area is still building pond with the tardiness due to the heavy rain, would be finished and stocked for the second harvest.

In addition, the company also shared that in the second quarter, shrimp producing, exporting and farming are still on track with many positive signals even though there exists the probability that the shrimp supply will decrease slightly due to unsatisfactory weather and input source for May and the upcoming moths. According to Mr. Pham Hoang Viet – General Manager of the company, the profit for the second quarter may exceed at least 20% comparing to the last year same period.

In terms of the market overview, according to Vietnam Association of Seafood Exporters and Producers (VASEP), the shrimp exports in May reached 416 million USD, increased by 19%, while April witnessed a huge leap of 47% in comparison to last year’s same period. In general, within the first five months, shrimp export value is estimated to reach 1.8 billion USD - 38% higher than the same period last year and accounted for 39% of the total fishery export turn-over.

For pangasius and shrimp sector, the total export value recorded is 2.6 billion USD.

In the US market, export volumes of shrimp, pangasius and other products all recorded high growth compared to 2021, especially in pangasius sector. The decrease in US catfish production, high inflation along with anti-dumping tax during the POR17 period has benefited many pangasius enterprises. The number of pangasius enterprises allowed to export to the US increased, with the average pangasius export price to the US reached a new peak.

Compiled by My Hanh