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.
(seafood.vasep.com.vn) By the end of 2025, Vietnam’s seafood industry had left a strong mark with export turnover reaching nearly $11.3 billion, up 12.4% year-on-year. This robust performance reflects not only a rebound in global consumption demand but also the agile adaptation of domestic firms in navigating increasingly stringent trade barriers.
(seafood.vasep.com.vn) According to the 2025 review and 2026 outlook conference held by the Directorate of Fisheries and Fisheries Surveillance on the afternoon of January 7, Vietnam’s seafood sector has set a total production target of over 10 million tons in 2026, representing a 0.6% increase year-on-year. Of this total, capture fisheries are projected at around 3.75 million tons (down 2.1%), while aquaculture output is expected to reach 6.25 million tonnes (up 2.2%) compared with 2025.
(seafood.vasep.com.vn) Sao Ta Food JSC (Fimex, Ticker: FMC) has announced its 2025 business results, reporting revenue of over $300 million (approximately 7.8 trillion VND), representing a 19.8% increase year-on-year; projected profit is expected to reach approximately 420 billion VND.
(seafood.vasep.com.vn) Vietnam’s fisheries sector concluded 2025 with landmark achievements: export turnover reached a record high, despite heightened volatility in global trade and increasingly stringent barriers from major markets, most notably the United States. Amid a mix of opportunities and challenges, the fisheries sector also witnessed important policy shifts. Together, these developments form a multifaceted picture of an industry proactively adapting and restructuring toward a trajectory of sustainable development.
(seafoos.vasep.com.vn) According to the Department of Agriculture and Environment of Vinh Long, the province’s shrimp farming area reached 69,800 hectares in 2025, including 7,500 hectares under high-tech farming models, 18,820 tons of black tiger shrimp and 293,000 tons of whiteleg shrimp.
(seafood.vasep.com.vn) Building on a robust growth momentum in 2025, Nghe An province has set a strategic goal to reach a total fisheries output of 270,000 tons by 2026, reinforcing its position as a key hub for aquaculture and exploitation.
(seafood.vasep.com.vn) Can Tho City statistics indicate that in 2025, following the merger of three former administrative entities - Can Tho, Hau Giang and Soc Trang - fisheries output in 2025 increased by 6.23% compared with 2024 with aquaculture production nearly 9.1 times higher than capture fisheries.
(seafood.vasep.com.vn) According to the Ca Mau Department of Agriculture and Rural Development, Ca Mau province has achieved significant, comprehensive and substantive progress in combating IUU fishing in 2025, successfully fulfilling all tasks directed by the central government and strengthening fisheries governance. These efforts have established a solid foundation for the nationwide effort to lift the EC’s "yellow card" warning.
(seafood.vasep.com.vn) Ca Mau has exceeded its 2025 production targets, reaching nearly 595,000 tons of shrimp. This milestone reinforces the province’s position as Vietnam’s leading shrimp producer and a bright spot in the country’s seafood sector.
(seafood.vasep.com.vn) According to Vietnam Customs data, cumulative shrimp exports from the beginning of the year through November reached $4.3 billion, up 21% year-on-year, continuing to serve as the primary growth driver of the entire seafood sector. In November alone, export turnover amounted to $393 million, up 14%.
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
