Meanwhile, finished agricultural product output reached 112 tons, and consumption reached 59 tons, down 53% and 57%, respectively, over the same period last year.
Accordingly, Sao Ta Foods recorded a total consolidated revenue of 19.17 million USD in March 2023, an increase of 32% over the same period in 2023. Thus, the total revenue of this enterprise in the first quarter of 2024 was estimated to reach 49.67 million USD (equivalent to 1,227 billion VND), an increase of 14% compared to the first quarter of 2023.
Notably, the company leadership said that they has harvested shrimp from shrimp farms stocked in the off-season since the end of November 2023, with quite positive farming results.
Since July 2023, Sao Ta Foods put into operation the Vinfarm farm in Vinh Thuan, helping to expand the farming area by 203 hectares, bringing the total farming area to 525 hectares with the ability to supply 16,000 tons of raw shrimp per year. When this farming area is fully operational, it will significantly improve the self-supply capacity of raw shrimp, leading to the expansion of Sao Ta Foods' gross profit margin.
It’s estimated that Sao Ta Foods' self-raised shrimp output this year will increase by 29% compared to 2022, helping the gross profit margin increase to 11%. Accordingly, this year's revenue and profit of Sao Ta Foods will increase by 10% and 25.5%, respectively, compared to the performance level of 2023.
Sao Ta Foods' Board of Directors is maintaining a cautious stance on this year's business prospects and expects that difficulties for the shrimp industry may last at least the first half of this year, amid risks from the shrimp crop, challenges of CVD case from the United States, as well as limitations in the domestic supply of shrimp materials due to farmers reducing stocking.
On March 25, the US Department of Commerce (DOC) issued a conclusion in the anti-subsidy investigation of frozen warm water shrimp (Warm Frozen Warmwater Shrimp under HS codes 0306.17, 1605.21, and 1605.29) that originates from Vietnam. DOC has set the preliminary anti-subsidy tax rate for Vietnamese enterprises as follows: 2.84% for a single mandatory defendant enterprise and all remaining enterprises; and 196.41% for a single defendant business that did not participate in the case.
This will cause more difficulties for Vietnamese shrimp products in the US market, which is facing fierce competition from cheaper shrimp products from Ecuador and India.
Sao Ta Foods is currently building a business plan for this year with the target of net revenue reaching 5,187 billion VND and consolidated profit before tax reaching 320 billion VND, an increase of 2% and 5%, respectively, compared to the year's performance in 2023. Thus, by the end of the first quarter of 2024, the company is estimated to have achieved 23.6% of the year's revenue target.
This year, Sao Ta Foods will continue to focus on deeply processed products, aiming to optimize costs and increase productivity by specializing in products at each factory and improving the quality of workers to achieve set business goals.
(seafood.vasep.com.vn) Tilapia is easy to farm and provides high economic and nutritional value, making it a sought-after export commodity in many countries.
(seafood.vasep.com.vn) Vietnam’s seafood exports in the first 10 months of 2025 recorded significant progress, reaching more than USD 9.5 billion, up 15% year-on-year. This result reflects the sector’s persistent efforts amid a highly volatile market, especially policy shocks from the US Although signs of slowdown emerged in the third quarter due to countervailing taxes, key product groups still maintained strong momentum and created a foundation for full-year exports to reach USD 11 billion.
(seafood.vasep.com.vn) Vietnam’s agreement with the United States on a framework for reciprocal, fair, and balanced trade—reached during the 2025 ASEAN Summit in Malaysia—has generated strong optimism for Vietnamese exports, including tuna. Numerous positive points in the joint statement have raised high expectations for Vietnamese export goods, but turning these expectations into tangible benefits remains a long and challenging journey.
(seafood.vasep.com.vn) At the conference on “Linking the Production and Consumption Chain of Ca Mau Crab 2025,” Vice Chairman of the Ca Mau Provincial People’s Committee Lê Văn Sử posed a central question: how to shift the province’s crab exports toward official trade channels, instead of relying heavily on small-scale border trade with China as currently practiced.
(seafood.vasep.com.vn) The whitefish market in Japan is showing a clear divergence among supplying countries, in which Vietnam continues to affirm its role as a stable and high-potential exporter. Vietnam currently ranks third after the US and Russia in whitefish export value to Japan. Thanks to tariff incentives and the ability to meet Japan’s strict standards, Vietnamese pangasius continues to record a stable and positive growth trend.
(seafood.vasep.com.vn) The People's Committee of Ca Mau Province has just issued a plan to expand the super-intensive, low-water-exchange, biosecure white-leg shrimp farming model (RAS-IMTA) for whiteleg shrimp farming to a scale of 1,500 hectares, aiming to develop high-tech, sustainable and environmentally friendly shrimp farming.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company (HNX: SGC) plans to issue over 7.1 million shares to raise nearly 465 Billion VND for Hoan Ngoc M&A Deal.
(seafood.vasep.com.vn) According to Rabobank, global tilapia production is forecast to exceed 7 million tons in 2025, driven by a strong recovery in major producing countries including China, Indonesia, Egypt, Bangladesh and Vietnam. Among them, Vietnam is emerging as a potential tilapia supplier in the global supply chain, capitalizing on market fluctuations to expand production and exports.
By the end of Q3/2025, Vietnam’s seafood industry recorded a clear recovery as a series of leading companies reported strong profits — some even achieving the highest results in their history. After several quarters struggling with high costs and weakened demand, the latest business results indicate a robust comeback across the industry.
(seafood.vasep.com.vn) On November 12 in Ho Chi Minh City, the Embassy of the Netherlands, in coordination with the Ministry of Agriculture and Environment, organized the Vietnam–Netherlands Business Forum under the theme “Shaping the future of sustainable aquaculture in the Mekong Delta.”
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