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The epidemic is stable, and the income of Vietnamese seafood companies picks up

 Last Update: 2021-12-02
 Source: Internet
 Author: User

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From SeafoodNews on November 22, the Vietnam Seafood Export and Producers Association stated that after two consecutive months of decline in trade, seafood exports reached US$918 million in October, an increase of 47% from the previous month.
As of the end of October, seafood exports The amount was US$7.
1 billion, a year-on-year increase of 2.
4%
.

Minh Phu Seafood Corporation, Vietnam's largest aquatic products company, has been active again since October
.
The company has started to build three seafood processing plants with an annual output of 18,000 tons and a packaging plant with an annual output of 5,000 tons
.

In the third quarter, due to the impact of the new crown epidemic, the company's revenue fell by 36.
7% year-on-year to 2.
78 trillion VND, but its after-tax profit still increased by 18.
6% to more than 289 billion VND
.

Shrimp processing plants in the Mekong Delta must operate in accordance with the "three sites" and "one route, two destinations" model, which reduces the shrimp processing capacity by 30% to 70%, and they cannot complete orders for customers.
Lead to a decline in income
.

　　Due to the increasing demand in the main shrimp export markets, Mingfu Seafood has a better selling price, higher profit margins, and still reaping huge profits
.
In the first nine months of 2021, the company announced net income of VND 8.
9 trillion, a decrease of 11%, but its after-tax profit increased by 14% year-on-year to VND 544 billion
.
In the fourth quarter, the market demand for shrimp continued to rise at the end of the year, and Mingfu Seafood is expected to continue to benefit from higher sales prices
.

　　Vietnam’s Sao Ta Foods JSC was also affected by the COVID-19 pandemic in the third quarter, resulting in revenue being flat compared to the same period last year, while profit fell slightly by 9.
5% to VND64 billion.
In the first nine months of this year, the company’s revenue exceeded 3.
8 trillion VND, profit after tax was 176 billion VND, an increase of 17.
1% and 8.
7% respectively
.

　　The Agricultural Bank of China Securities Company (Agriseco) said that the difficult time for Sao Ta Foods JSC has passed
.
With the increase in the vaccination rate, the new crown epidemic has gradually been brought under control, and production capacity has been fully restored since mid-September
.

　　In the stock market, the stocks of all these companies closed higher last Tuesday.
The shares of Ming Phu Seafood, which traded on the UpCOM exchange, rose 23.
4% from the beginning of October, and the shares of Vinh Hoan, which traded on the Ho Chi Minh Stock Exchange (HoSE), rose.
24%.
Vietnam’s Sao Ta Foods JSC, which is traded on the Ho Chi Minh Stock Exchange (HoSE), rose 6.
4%
.

Seafood export

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