After covid - 19, seafood enterprises recovered thanks to European market

While the Chinese market dropped sharply, the European market became a support for seafood enterprises in April.

Aquaculture enterprises VHC, CMX, FMC and ANV simultaneously announced their business situation in April 2020 after the business period affected by the Covid epidemic - 19.

Vinh Hoan (VHC) stated that total revenue in April reached 525 billion dong, up 7% compared to the same period last year. In which, pangasius product revenue increased by 33% to 343 billion dong, health care products increased by 29% to 63 billion dong, compensating for the drop in value-added product line (-3%), by-products (-14%) and other products (-70%).

In terms of consumption markets, the US and Europe both recorded significant increases of 35% and 68%, while China decreased by 48%. In particular, the European market increased sharply and surpassed China to become the second largest export market of Vinh Hoan.

Previously, Camimex Group (CMX) also updated its export profile in April with an output of more than 396.3 tons, up 39% over the same period in 2019. Sales accordingly reached more than 6.5 million USD, up 86% over the same period with the largest market is Europe accounting for over 70%. The company says this is the highest monthly sales volume in the past 7 years. According to signed contracts and stock already in stock, export sales in May-June will also be at 7-8 million USD / month, up 60-70% if the situation does not change.

Meanwhile Sao Ta Food (FMC) - a member of PAN Group - announced that it processed 1,196 tons of frozen shrimp finished products in April, up 10% and consumption reached 990 tons, up 7 %. The total turnover is 11.2 million USD, up 15% compared to April 2019 - In which EU is one of the key markets of FMC with the proportion of about 30%.

Regarding shrimp farming, Sao Ta plans to complete the stocking in May into 120 newly-built ponds. By the end of May, more than 200 ponds will be harvested in old-zone ponds. The harvest will last more than 1 month to supply materials to the three processing plants.

Nam Viet Seafood (ANV) is also exporting Pangasius to European market. According to the report of the first 4 months of 2020, Navico's total export turnover decreased by 19.7% over the same period, reaching 28.5 million USD. However, among the markets that declined in the first 4 months of 2020, the EU had the lowest decrease (-26%) while the UAE market decreased by 75%, the Chinese-US market decreased by 32%; Southeast Asia is the only market with a sharp increase in imports from Navico (up 16% over the same period) despite the impact of Covid-19 epidemic.


(Theo CafeF)