Regarding the development momentum in business activities, VCBS estimates that Nam Viet's total revenue in 2023 will reach 4,612 billion VND (-5.82% yoy), profit after tax will reach 619 billion VND because pangasius exports are entering the reduction. However, the demand for pangasius will increase again from the third quarter of 2023 thanks to China's reopening, which will boost export orders of fish industry enterprises.
Pangasius will be "hot" again in the third quarter of 2023
Previously, VCBS also identified ANV as one of two potential seafood stocks in 2023. According to the results of the 17th anti-dumping tax (POR17) of the US DOC, ANV enjoys a tax rate of 0%. This made the business decide to return to the US market. By the end of September 2022, ANV has exported 11 containers to the US market, doubling the initial target of 5 containers. ANV is also planning that in the next 2-3 years, export volume to the US market will grow by 5-7%.
ANV is gradually recovering its export volume to China, the company has exported 80 more containers to this market. In addition to exporting to Shanghai as usual, ANV has found some new partners in Beijing and Guangzhou. According to the plan, export volume in the Chinese market will grow by 35-45% in the coming time.
Besides, the selling price of ANV’s products in the Chinese market is also higher than other enterprises. For the European and Southeast Asian markets, orders is still stable. Import orders from ThaiLand increased sharply, businesses are putting their orders into supermarkets, so they always sell at good prices. ANV is expected to increase export volume to these markets by 10-15% in the coming time.
ANV's export revenue in markets in the first 8 months of 2022 all grew strongly from 34% to up
ANV's export revenue in markets in the first 8 months of 2022 all grew strongly from 34% to up. In particular, the Russian and Brazilian markets grew 2 and 3 times over the same period last year.
VCBS forecasts that ANV's pangasius revenue for 2023 will grow by 9% over the same period, bringing in a profit of VND 693 billion for the business.
In addition, ANV is expanding production into C&G segment (Collagen and Gelatin) after taking part in a joint venture with Amicogen to build a factory with a capacity of 800 tons/year, with a total investment of 6 million USD. As expected, the Amicogen factory, at full capacity, will bring in revenue and profit of $36 million and $1.5 million per year, respectively.
Forecast on Vietnam pangasius industry in 2023 - 2025
Compiled by Thuy Linh
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
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