Vinh Hoan Corp: Export revenue in January increased by 23% to VND 777 billion, continuing to grow in 2022

( Vinh Hoan Corp. has just published the January 2020 IR newsletter, recording a 23% increase in total revenue to VND 777 billion. In which, the main product is pangasius fillet, up 11%, reaching VND 489 billion and accounting for more than half of total monthly revenue. The biggest increase was miscellanous with 234%, from 21 billion to 71 billion. A galloping increase was recorded with other products (Value-added products) with 112% to 16 billion dong. The remaining two products also increased by 28% and 19% respectively over the same period in 2021.

Regarding the export market, China alone decreased by 36% to 27 billion, exports to most of the remaining countries increased significantly. In which, exports to Europe increased by 20%, reaching VND 131 billion - accounting for the third largest proportion and exports to the US increased by 25% to VND 332 billion - accounting for the second largest proportion in the structure of export revenue in the first month of the year. 

Vinh Hoan Corp Export revenue in January increased by 23 to VND 777 billion continuing to grow in 2022
Vinh Hoan's breaded fish finger

In contrast, compared to the previous month, December 2021, the total revenue recorded a decrease of 13%, especially the Chinese market showed significant signs of decline when revenue decreased by 84%, from 162 billion to only 27 billion VND.

Looking back at 2021, Vietnam's pangasius export industry faces many difficulties due to the Covid-19 pandemic as well as the hot increase in freight rates... Nevertheless, the pangasius industry still fulfills its target for the whole year: This is also a premise to expect pangasius exports to continue to expand in 2022, bringing Vietnam's competitiveness index up in the market.

In recent days, raw pangasius has been in a strong uptrend. According to observers, in Can Tho city and many provinces such as An Giang, Dong Thap, Ben Tre... fish farmers sold to processing factories for 26,000-27,000 VND/kg, while in the same period last year the price was only at around 20,000 VND/kg. In which, the price of raw pangasius increased due to many companies promoting purchasing for export processing and preparing goods to serve the increasing market demand. The supply of raw pangasius in many localities decreased because people reduced farming, creating conditions for prices to move up.

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Ms Thu Hang


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