In the second quarter, Sao Ta Food Joint Stock Company (stock code FMC-HoSE) recorded revenue of 1,243 billion VND, up 20% over the same period in 2023. The above results came from shrimp revenue in the period increasing by 21% and consumption output increasing by 22% compared to the second quarter of 2023, mainly from the Japanese market.
Sao Ta Food is currently the largest Vietnamese shrimp exporter to the Japanese market. Although Sao Ta Food's shrimp selling price to the Japanese market is still 1% lower than the same period last year, the company's gross profit margin in the second quarter of 2024 still improved strongly, increasing by 4.7 percentage points.
This comes from Sao Ta Food's self-sufficiency rate of raw shrimp, which has increased sharply as the production of self-farmed raw shrimp has increased. In the first quarter of 2024, 200 hectares of new farming areas out of the company's current 525 hectares of farming areas were harvested, and these shrimps were sold in the second quarter of 2024.
However, Sao Ta Food's business results in the second quarter of 2024 were somewhat restrained when the anti-dumping duties refund did not take place due to the lack of final results from the investigation. The company also recorded anti-subsidy duties provisions, causing a significant increase in selling expenses.
Therefore, Sao Ta Food recorded 72.4 billion VND in after-tax profit in the second quarter of 2024, down 5% compared to the same period in 2023.
Regarding the business outlook for the second half of this year, Sao Ta Food's shrimp consumption output is expected to increase as key markets enter the year-end holiday season and the economies of countries accelerate recovery as the US Federal Reserve (Fed) cuts interest rates.
The latest data shows that Sao Ta Food's export output in July 2024 maintained a growth rate of 7% over the same period last year, signalling that the growth momentum is gradually being consolidated.
Mr. Ho Quoc Luc, Chairman of the Board of Directors of Sao Ta Food, also said that although there are still some difficulties, in general, the second half of 2024 is a "more breathable period.".
According to a recent assessment by Rong Viet Securities, Sao Ta Food's shrimp selling price in the second half of this year is expected to increase by 9% compared to the same period last year. Notably, Sao Ta Food also benefits from the re-appreciation of the Japanese yen.
Specifically, although Sao Ta Food records revenue in USD in the Japanese market, the increase in the yen/USD exchange rate will help the company convert more USD and earn more VND. Therefore, the company still benefits in the context of the increase in the Yen/VND exchange rate, according to Rong Viet Securities. Currently, the Yen/VND exchange rate is 5% higher than the previous quarter.
Based on current market conditions, Sao Ta Food's revenue this year is forecasted to reach 6,435 billion VND and the parent company's after-tax profit will be 342 billion VND, up 26% and 24%, respectively, compared to 2023.
(vasep.com.vn) Vietnam has strengthened its position in China’s massive seafood market, becoming the largest lobster supplier while maintaining a dominant share of the country’s imported pangasius.
(vasep.com.vn) Vietfish 2026 was more than just a larger exhibition space. Through B2B meetings, booth discussions, production-chain visits and post-show feedback, businesses and buyers found something more concrete: suitable suppliers, processing capabilities, technology solutions, new markets and a foundation for building long-term trust and partnerships.
(vasep.com.vn) Vietnam’s tilapia exports to the United States declined significantly in the first seven months of 2026. Cumulative export value reached US$18 million, down 42% from the same period in 2025. In July alone, exports amounted to just US$2 million, plunging 70%, indicating a clear slowdown in import demand from the US market.
(vasep.com.vn) At the seminar “Global Seafood Markets and the Future Workforce: Trends, Opportunities and Directions for the Sustainable Development of Vietnam’s Fisheries Sector,” held as part of VIETFISH 2026, Ms. Shirlene Maria Anthonysamy, Fisheries Officer (Markets) and GLOBEFISH Coordinator at the Food and Agriculture Organization of the United Nations (FAO), presented initiatives aimed at promoting youth participation in fisheries and aquaculture.
(vasep.com.vn) In the first seven months of 2026, Vietnam’s pangasius exports to the United States reached US$189 million, down 8% year-on-year. In July alone, export value reached US$22 million, down 28%. This trend indicates that U.S. demand for pangasius imports has remained relatively cautious this year, as importers tend to maintain moderate inventory levels and limit stockpiling.
(vasep.com.vn) After three days at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, the Vietnam International Fisheries Exhibition – VIETFISH 2026 – has successfully concluded, leaving a strong impression in terms of scale, visitor numbers, the quality of business connections, and innovative activities. With more than 14,000 m² of exhibition space, 335 companies, 568 booths, participation from representatives of 17 countries and territories, and nearly 15,000 visitors, VIETFISH 2026 has once again affirmed its role as an important meeting point for Vietnam’s and the global seafood industry.
(seafood.vasep.com.vn) Held as part of Vietfish 2026 from August 19–21 at SECC in Ho Chi Minh City, a series of five specialized seminars provided the seafood business community with updates on markets, technology, standards, human resources and cooperation opportunities. With the participation of experts, international organizations, government agencies and businesses from Vietnam and abroad, the seminars created an additional platform for professional exchange alongside the exhibition’s product showcases and business networking activities.
(seafood.vasep.com.vn) On the morning of August 19, 2026, the Vietnam International Seafood Exhibition – VIETFISH 2026 officially opened at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. With 568 booths representing 335 companies, alongside the presence of senior government officials, local authorities, diplomatic missions and international partners, VIETFISH 2026 kicks off three days of business networking, technology exchange and market engagement under the overarching theme “Innovation and Sustainability.”
The Vietnam Association of Seafood Exporters and Producers (VASEP) officially announces that the Vietnam International Seafood Exhibition (Vietfish 2026) will take place from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.
(seafood.vasep.com.vn) Vietnam’s seafood exports recorded strong growth in the first half of 2026, but the performance was increasingly uneven across products, markets and enterprises. VASEP’s newly released premium report provides the detailed data and analysis needed to understand what lies behind the headline figures and prepare for the more challenging months ahead.
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
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
