According to IDI CORP’S annual report, with the strong recovery of the pangasius market, the executive board will continue to implement the project of building the third Seafood processing factory with a capacity of 500 tons of raw materials/day. The factory is expected to be built on the company's available land fund in the fourth quarter of 2022.
With the COVID-19 situation basically under control, the global vaccination coverage has been high, most countries (except China) have started a new life with the policy of living with the epidemic, the world has opened its doors to import and export. This has helped the pangasius industry recover strongly since the end of 2021, even increasing sharply in the early days of 2022.
Currently, IDI CORP has two factories with the capacity of 150 tons/day and 300 tons/day respectively. Factories have been operating at full capacity but have not yet met customer demand in late 2021 and early 2022.
"That's why it is necessary to build Seafood processing factory No.3, for the stability and development of the Company in the future", according to IDI CORP.
This year, IDI CORP sets a target: net revenue reaches 8,300 billion VND, up 45% compared to 2021 and profit after tax reaches 900 billion VND, 6.3 times higher than the same period last year.
With the current shortage of supply, it is an advantage that enterprises own a large amount of inventory.
Mr. Le Thanh Thuan, Chairman of IDI CORP, said that the company had signed enough export orders until the end of the second quarter of this year.
At the same time, a stockpile of up to 1,400 billion VND of cheap pangasius (17,000 - 18,000 VND/kg) has also been prepared, especially in Mexico and Brazil - where IDI CORP accounted for large market shares.
Previously, besides completing Cold Storage No.3 with a capacity of 10,000 tons of finished products, in early February 2020, Cold Storage No. 4 with a capacity of 10,000 tons of finished products was put into use. This has overcome the situation of outsourcing, which significantly increased the tolerance against COVID-19.
This is a wise investment because at the beginning of 2021, the price of raw fish dropped to 18,000 VND/kg, the Company took the opportunity to purchase raw materials from outside the market to manufacture and store the finished products in the above two cold storages.
By the end of 2021, the fish price increased to 25,000-26,000 VND/kg, which helped the Company gain a significant profit.
Mr. Tuan also noted that the strong recovery of consumer demand in the main markets pushed the company into a situation of not being able to pay orders in time.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
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Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
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Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn