GODACO aims at expanding pangasius farming area to about 70 hectares

(seafood.vasep.com.vn) According to Mr. Nguyen Van Dao - General Director of Go Dang Joint Stock Company (GODACO), in the first half of 2022, export turnover, export volume and revenue of the company are about the same as the first half of 2021.

GODACO aims at expanding pangasius farming area to about 70 hectares

Currently, input prices have increased tremendously (especially for gasoline), leading other industries’ price levels to increase accordingly. Noticeably, the price of input materials for aquaculture has also increased, such as imported soybeans, bran, fat, etc., along with the increase in workers' wages to ensure that it is in line with the current price slide. Another difficult point is that, even though the epidemic is controlled, a few large markets are still applying the Zero Covid policy, so the openness of these markets is not certain and varies at times, affecting the global supply chain.
Input materials, have increased by 10% - 20%. The most notable increase is the freight rate, which has increased by 5 to 10 times. For example, the European freight for a 40-foot container at between 1,500 USD to 2,000 USD has leaped to 20,000 USD. The difficulty to find shipping containers has been affecting company’s competitiveness, hindrancing market supply due to delayed orders and affecting the customers.
Facing this situation, GODACO has put forward some solutions: reaching out to new markets, expanding new products, limiting activities in unstable markets, reducing unnecessary costs in production, increasing productivity
and quality improvement, etc., in order to minimize the impact of increasing input prices, heading towards increasing competitiveness in markets.
According to Mr. Dao, the processed seafood industry in particular, and the food industry in general, after the epidemic, the recovery of the economy and the demand for food and travel will contribute to the increasing consumption demand for this product category. We also expect that from now to the end of 2022 as well as the coming years, the demand for food will keep increasing. This is also a new opportunity for the seafood processing industry.
Taking advantages of these opportunities, the company also takes preparation steps, especially implementing many solutions to get back to its position before the epidemic by the end of 2022. The company also set specific goals for the coming years, such as continuing to expand the pangasius farming area of about 70 hectares, building more processing plants, expanding the market... GODACO's goal in 2023 is to increase revenue and export turnover by about 30% and the company will be among the top 3 largest fish processing enterprises in Vietnam in the next 5 years.


Compiled by My Hanh


Ms Thu Hang

Email: thuhang@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

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