In 2016, the export turnover of the company hit US$272 million, picking up 15% out of a total of 200 seafood enterprises. The company owns a closed production chain with five pangasius processing factories with the total capacity of 750 MT/day in 2016, two byproduct processing factories (fishmeal, fish fat) with the total capacity of 70,000 MT/year. Besides, the company also has a collagen and gelatin factory (extracted from fish skin) with a capacity of 1,000 MT of gelatin per year and 1,000 MT of collagen per year. The company can self-supply 65% of raw pangasius for its processing plants.
The growth rate of the company’s export turnover in the past 20 years was an average of 19% per year, that in the last 10 years (2007-2016) was 15%, which is 2.5 time higher than the general growth rate of the whole sector (6%).
In the early 2016, Vinh Hoan set a three-year plan with the revenue growth of 15-20% per year, and expected to reach VND10,000 billion in 2018 by expanding its production scale in parallel with product and market development. Sales in 2016 was up 12% year on year. In addition to remaining its current markets, the company is focusing on expanding its direct distribution channels and opening up 5 new markets namely Pakistan, Thailand, India, Greece and Reunion. Shipments to Japan, China and Mexico showed the impressive growth of 60%, 135% and 80%, respectively. Moreover, the company has successfully put its products with the brand of Vinh Foods into Mercadona, the largest supermarket chain in Spain.
In early 2017, the company completed the acquisition of 100% stake in Thanh Binh Dong Thap Fisheries Jsc. The company completed the construction of two factories of Van Duc Tien Giang, one for processing pangasius fillets, one for value-added products. The acquisition of Thanh Binh Company meets Vinh Hoan's capacity expansion needs, which rises by 20%. In addition, Vinh Hoan is planning to build a fishmeal and fish fat factory to optimize its byproducts from pangasius.
Compiled by Dieu Thuy
According to Vietnam Customs, the export of value-added pangasius in the first eight months of 2024 has been evaluated as quite positive, with continuous growth in many major markets such as the United States, CPTPP, and the Netherlands...
(seafood.vasep.com.vn) The Department of Fisheries of Ca Mau province coordinated with the School of Fisheries under Can Tho University to organize training courses on high-tech shrimp farming for 120 people in processors, cooperatives and families that are raising intensive and super-intensive shrimp in the province.
(seafood.vasep.com.vn) Currently, Soc Trang province plans to expand its shrimp farming area from over 50,000 hectares to 57,000 hectares by 2025, aiming for a production of 233,800 tons and maintaining a $1 billion export value. The project will establish 45 climate-resilient shrimp farming models and ensure all farms meet aquaculture standards for traceability.
(seafood.vasep.com.vn) In July 2024, Vietnam's fish cake and surimi exports declined. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the cumulative export of this product group reached 152 million USD, down 13%.
(seafood.vasep.com.vn) Dong Thap is a key region for pangasius farming, boasting the largest production in the Mekong Delta. In the first seven months of 2024, the estimated aquaculture area reached 4,778 hectares, with a harvest yield of 307,336 tons. Of this, the intensive pangasius farming area covered 2,042 hectares, with a harvest of 252,670 tons.
(seafood.vasep.com.vn) According to Vietnam Customs, in the first half of August 2024, Vietnam's pangasius exports to the EU reached nearly 8 million USD, up 57% over the same period. Cumulative pangasius exports to this market as of August 15, 2024, reached 107 million USD, up 0.5% over the same period last year.
(seafood.vasep.com.vn) The Board of Directors of International Development & Investment Corporation (IDI) is confident of completing this year's profit plan in the context of gradually recovering demand for pangasius in China and Mexico.
(seafood.vasep.com.vn) Some farmers in Soc Trang province have successfully applied a balanced biological shrimp farming technique, which eliminates the use of chemicals to minimize environmental impacts. This is a model of farming that adapts to climate change.
8 finalists have been named in the best new seafood product competition to be awarded at Seafood Expo Asia, taking place 4 to 6 September at the Sands Expo and Convention Centre in Singapore.
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