Export products of ABT include pangasius (accounts for 62% of revenue) and clams (accounts for 25% of revenue). The main export markets include the EU (40% of total exports) and Japan (33% of total exports).
Pangasius export demand is expected to continue to increase, many pangasius companies have increased their average selling price by 40% compared to the beginning of the year.
SSI Research expects ABT to benefit from this trend and continue to record strong revenue growth this year. However, raw fish, aqua feed and transportation costs also increased by 33%, 15% and 80% respectively over the same period. For that reason, even when export prices remain positive, SSI Research believes that increasing costs will continue to put pressure on ABT's profit.
ABT’s revenue and after-tax profit are estimated at 522 Billion VND (up 52.7% YoY) and 48 Billion VND (up 42% YoY), respectively.
ABT's long-term outlook: Current processing capacity is 10,000 tons/year and ABT has no plans to expand production capacity. Instead, the company is investing in improving production technology to reduce waste in fish processing. This can help improve both production capacity and gross profit margin. Currently, due to small-scale production, ABT is 100% self-sufficient in fish and clam materials.
In Q1/2022, Sao Ta Foods Joint Stock Company (HoSE: FMC) recorded revenue of 1.3 trillion VND (up 37.1% over the same period) and net profit of VND 42.3 billion VND (up 36.5% over the same period), with sales volume increased by 36% over the same period. According to NOAA, the average selling price of vannamei exported to the US in Q1/2022 increased to US$12/kg (up 14% over the same period), signaling strong demand growth. According to VSEPR, the price of raw shrimp has increased by 4% over the same period. Due to the seasonality, the price of raw shrimp is usually lower in the Q2, Q3 and higher than in the Q1, Q4.
Currently, CP holds 25% shares of FMC. As a result, FMC gets a certain discount (about 20% discount compared to secondary wholesalers) when purchasing aqua feed and raw shrimp from CP. Inflationary pressures can become an advantage for FMC in terms of cutting production costs.
In 2022, FMC will likely focus more on the key export market, Japan (accounting for 28% of total exports in 2021), due to less competition, higher average selling prices thanks to lower shipping costs and Japan’s preference towards value-added products. However, due to high demand in the US, Khang An Foods (a subsidiary of FMC) recently signed a new contract with the Costco- wholesale supermarket chain in the US. Because the US market prefers raw white shrimp, the gross profit margin in the US market is lower than that of Japan and Korea.
"We estimate net revenue and profit after tax to reach 6.3 billion VND (up by 21.2% YoY) and 369 billion VND (up by 28.7% YoY) respectively in 2022. We assume that shrimp consumption will increase by 18% year-on-year, while the average selling price of shrimp will increase by 3% year-on-year. Although raw material cost of shrimp is not as volatile as pangasius, we expect FMC to improve its gross profit margin in 2022 to 10.6% (it was 10.2% in 2021) due to the expand of exports to Japanese market," - SSI Research report stated.
SSI Research assumes that administrative and selling expenses to turnover ratio will remain unchanged year-on-year, at 5.1%.
FMC's long-term outlook: The company owns 320 hectares of farming area, providing 30% of total shrimp input. FMC plans to increase farming area to increase profit margin.
The remaining supply of raw shrimp comes from production contracts and purchases from small-scale farms. FMC's processing capacity is 25,000 tons per year and is currently processing at 92% of its capacity in 2021.
The company has started constructing two new processing plants with a total designed capacity of 15,000 tons/year. These new factories are expected to come into operation in Q3/2022, bringing FMC's total processing capacity to 40,000 tons per year by year-end.
Compiled by My Hanh
(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.
(seafood.vasep.com.vn) Brazil remains one of the key markets for Vietnamese pangasius in South America. However, exports to the market showed signs of slowing in the first half of 2026, while frozen pangasius fillets continued to account for the overwhelming majority of exports.
(seafood.vasep.com.vn) Marking 27 years of supporting Vietnam’s seafood industry, the Vietnam International Seafood Exhibition (VIETFISH 2026) will officially return from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, on its largest scale ever. Under the core theme “Innovation – Sustainability,” the event promises to provide a comprehensive picture of the transformation of Vietnam’s seafood industry toward greater value addition and sustainable development.
(seafood.vasep.com.vn) With less than three weeks remaining, the Vietnam Fisheries International Exhibition – Vietfish 2026 will officially take place from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. Under the theme "Innovation – Sustainability," Vietfish 2026 will provide a comprehensive networking platform for seafood businesses, buyers, distributors, industry experts, government agencies, and domestic and international visitors.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition – Vietfish 2026, the technical seminar “Green and Sustainable Technology Solutions for the Aquaculture and Seafood Processing Value Chain” will take place from 09:30 to 11:45 on August 20, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. The seminar is jointly organized by VASEP, the Department of Fisheries and Fisheries Surveillance, and the Royal Norwegian Embassy in Vietnam, focusing on technological innovation and sustainable transformation across Vietnam’s seafood value chain.
(seafood.vasep.com.vn) Market fluctuations, rising production costs, and increasingly stringent requirements from export markets are placing growing pressure on the shrimp industry. In response, Vinh Long Province is promoting high-tech shrimp farming integrated with production–consumption value chains to improve efficiency, reduce risks, and enhance the industry's value.
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