MINH PHU SEAFOOD CORP: Acceleration and expectation for year-end orders

(seafood.vasep.com.vn) Mr. Le Van Quang, Chairman of the Board of Directors, General Director of Minh Phu Seafood Joint Stock Company (MINH PHU SEAFOOD CORP) said that the application of "3 on-the-spot" production made the operating capacity of the factories of the company. Minh Phu in Ca Mau and Hau Giang dropped sharply, reaching only 25% of capacity. But thanks to the company's shift to large-sized shrimp production, the output has improved, reaching about 50%. The company is accelerating and expecting year-end orders.
MINH PHU SEAFOOD CORP Acceleration and expectation for yearend orders
MINH PHU SEAFOOD CORP: Acceleration and expectation for year-end orders

According to the leader of Minh Phu Seafood Group, the world market's demand for shrimp is very large due to the start of the year-end festival season. The number of contracts that the Group signed with partners in the last 4 months of the year is very large. Moreover, the world shrimp price has also continuously increased due to a shortage of supply from India and Indonesia - countries that are heavily affected by the disease.

“In the last days of 2021, if there are materials, they will sell very well on Christmas for the European and American markets. If it goes through December, it can only be sold to Asian markets such as China, Taiwan, Hong Kong, Japan and Korea," Quang added.

Although the market is favorable, Minh Phu only dares to sign contracts corresponding to 50-70% of processing capacity for fear of not being able to fulfill orders. In addition to the reduced capacity due to "3 on-site" implementation, Minh Phu in particular, seafood processing enterprises in the province in general, are facing the fear of lack of raw materials in the near future.

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Ms Kim Thu

Email: kimthu@vasep.com.vn

Tel: 84.24.3771.5055 (ext 203)

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