Vinh Hoan Corp Revenue in the third quarter of 2021 increased by 17% thanks to the US market
08:00 10/25/2021

( The EU is Vietnam's largest bivalve mollusk import market, accounting for 62% of Vietnam's total export value of this item to markets.

( Thanks to good growth in the first 7 months of this year, the EU has surpassed Thailand to become the third largest import market of Vietnam's squid and octopus, accounting for 10.8% of the total value. Export of squid and octopus from Vietnam. In August 2021, due to the impact of the Covid-19 epidemic, Vietnam's exports of squid and octopus to the EU as well as most markets decreased. However, from September, exports are recovering thanks to the policy of easing social distancing to restore production.

( Russia is the 9th largest market for shrimp imports from Vietnam, accounting for 1.3% of the total value of Vietnam's shrimp exports. Although it is only a small import market, Vietnam's shrimp exports to Russia in the first 7 months of this year grew very well. However, from August until now, due to social distancing to prevent the Covid epidemic, production has been halted, shrimp exports to Russia as well as all markets have decreased.

( While Vietnam's tuna exports to main markets mostly decreased in August 2021, tuna exports to Mexico increased by nearly 263% over the same period in 2020 and reached the level almost equivalent to August 2019, the time before the pandemic. Previously, after a continuous decline in the first quarter, Vietnam's tuna exports to this market tended to grow continuously at a high level since April. Cumulatively in the first 8 months of 2021, the export value of tuna to this market reached more than US$ 9.3 million, an increase of 97% over the same period in 2020. With this result, Mexico becomes a promising market for Vietnamese tuna.

( In the first eight months of 2021, the total value of Vietnamese pangasius exports to the Middle East market increased by 25.18% over the same period last year. In 2021, many pangasius enterprises have shifted their exports to the Egyptian and UAE markets.

( VDSC Securities Company predicts that both revenue and profit in the third quarter of Vinh Hoan Joint Stock Company will grow by double digits compared to the same period last year. In which, revenue from pangasius fillet segment (which contributes over 67% of total revenue) increased strongly thanks to the average selling price and recovery in volume.

( Up to now, after a long period of being affected by the COVID-19 pandemic, the epidemic situation in Ho Chi Minh City as well as some provinces in the Mekong Delta region is currently under better control. Therefore, businesses in general and companies in the seafood industry in particular are accelerating the post-COVID-19 recovery process.

( Thanks to a lot of efforts, up to now, Soc Trang shrimp industry has basically overcome the challenges during the period of implementing social distancing to ensure the prevention and control of COVID-19 . The difficulties that are solved in time and the optimistic signals of consumer demand in both domestic and foreign markets are good opportunities for shrimp farmers and seafood processing companies in this locality to restore the production chain in the remaining months of the year.

( In August 2021, Vietnam's sea product exports reached 224.8 million USD, down 22% compared to July 2021 and down 24% compared to August 2020. In the first eight months of the year, marine product exports reached $2.1 billion, accounting for 38% of the country's total seafood export value and up 7% over the same period in 2020.

( While the export of some marine products decreased significantly in August 2021, Vietnam's bivalve mollusk exports still increased strongly by 36.2%, reaching over 13.2 million dollars. In the first 8 months of the year, the export of bivalve molluscs reached USD 86.8 million, up nearly 40% over the same period last year. In which, clam is the key product, accounting for 72% of the value, reaching 62.6 million USD in 8 months, in August alone increased 75% to 11.5 million USD.

( Although Vietnam's seafood exports to the EU in August 2021 decreased by nearly 31%, there are still some important markets that maintain positive growth this month such as Spain and Portugal with the main contribution of clam exports.

( The 4th Covid wave broke out strongly in Ho Chi Minh City and 18 provinces and cities - key seafood processing and export areas of Vietnam, causing a sharp drop in export turnover to many major markets in August 2021. However, in this dark picture at this stressful Covid period, there are still small bright spots in some niche markets such as Mexico and many others.

Vietnam exported 15,870 tonnes of tuna worth 73.33 million USD to the European Union in the first half of 2021, up 39.3 percent and 31.6 percent, respectively, against the same period last year, according to a journal published by the Ministry of Industry and Trade (MoIT).

The US Department of Commerce (DOC) has announced the preliminary results of the 17th period of review (POR17) for the period from August 1, 2019 to July 31, 2020, regarding Vietnam’s tra and basa fish (pangasius) exported to the US.

( As of August 15, 2021, the total value of Vietnam's tuna exports to the Israeli market increased by 34% over the same period in 2020, reaching nearly 25 million USD, accounting for 5 .6% of total tuna export value. Israel continues to be Vietnam's third largest single tuna export market after the US and Italy.