Vinh Hoan Corp: Export revenue in 6 months increased by 15%

(seafood.vasep.com.vn) Export revenue of Vinh Hoan Corp in June 2021 reached VND 713 billion, up 15%, of which the US market brought in nearly VND 300 billion, up 77%. Exports to the EU and China markets decreased due to the impact of the new strain of Covid-19 epidemic. Accumulated in the first 6 months, Vinh Hoan recorded export revenue of 3,991 billion dong, up 15.6% over the same period last year.

Vinh Hoan Corp Export revenue in 6 months increased by 15

According to Vinh Hoan Corp, the US market is recovering the food service and restaurant industries. This is also the market with the strongest growth with 77%. While exporting to the EU, China recorded a decline before the risk of a re-emergence of the Delta variant Covid-19 epidemic.

Most of Vinh Hoan's revenue comes from exporting raw and processed products. Compared to the same period, the wellness product group including collagen and gelatin decreased by nearly 40% in revenue in June while value-added products increased by 19% but accounted for a negligible proportion of total revenue.

For the Chinese market (excluding Hong Kong),  the first half of this year's revenue recorded a 50% increase with revenue of VND 570 billion, equivalent to 14% of export value to the country. outside of Vinh Hoan.

Meanwhile, the EU market group, accounting for 16% of Vinh Hoan's total exports, recorded a decline of 12% in the first half of the year. Total export value to EU reached 648 billion VND.

At the end of June, the US Department of Commerce (DOC) announced the final results of the 16th review (POR16) for Vietnamese pangasius products imported to the US from August 1, 2018 to July 31, 2019. Accordingly, Vinh Hoan and another exporter are entitled to the same anti-dumping tax rate of 0 USD/kg to this market.

Vinh Hoan Corp is the biggest pangasius export company in Vietnam with export turnover of US$235.33 million in 2020.


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SPECIALIST ON
PANGASIUS MARKET

Ms Ta Ha

Email: taha@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

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