Tra fish exporters earn big thanks to high price rise
The majority of tra fish exporters enjoyed high profits in the April-June period of this year thanks to a price increase cycle in the period, according to the sector’s financial report for the second quarter of 2022.
HCM City (VNA) – The majority of tra fish exportersenjoyed high profits in the April-June period of this year thanks to a price increasecycle in the period, according to the sector’s financial report for the secondquarter of 2022.
On top of the list in the period was Vinh Hoan Corporation which earned a revenue of over 4.22 trillion VND (180.38 million USD), a riseof 80% year on year, and over 1 trillion VND in profit, a surge of 154%. Thefirm’s after-tax profit hit 788 billion VND, tripling thatin the same period last year.
Meanwhile, Nam Viet JSC reported a net revenue of 1.29trillion VND, a rise of 20% year on year. Its net profit reached nearly 241billion VND, while after-tax profit amounted 447 billion VND.
At the same time, the International Development andInvestment Corporation also enjoyed an after-tax profit of 390 billion VND, 18.5times that in the same period last year.
According to the Vietnam Association of Seafood Exporters and Producer (VASEP),many other firms saw a high rise in the first six months of this year.
It attributed this to a strong increase inboth prices and production.
In the first six months of this year, the export value oftra fish reached over 1.4 billion USD, up 83% year on year, with rises seenin all markets, especially the US and China.
According to SSI Securities Corporation, the average price of tra fish in the US market was 4.5-5 USD per kilo, 60% rise year on year,while that in the Chinese market was 3.1 USD per kilo, up 20%.
The SSI reported that the along with the strong recoveryfrom the major markets, tra fish demands rose due to a high number oforders after social restriction measures in the second half of 2021 as part ofefforts to prevent COVID-19 spreading.
However, the firm underlined that standstill signs in trafish demands have been seen since May due to high a inventory in export markets. VASEP also predicted that along with the inflation pressure, the growthtrend of tra fish exports will slow down in the third quarter.
It forecast that tra fish export revenue this yearmay reach 2.5-2.6 billion USD, a rise of 56-65% over 2021. So far, with1.6 billion USD in revenue, the sector has completed 87% of its yearly target./.
Vietnam’s tra fish (pangasius) export revenue expands about 90 percent in the first six months of this year compared to the same period last year, signaling a new development period for the sector.
Seafood shipments overseas have risen in the first half of 2022, and experts say Tra fish exports can increase the market share in the EU, while that of shrimp has a lot of room for growth in Canada.
Vietnam’s tra fish (pangasius) export revenue expands about 90 percent in the first six months of this year compared to the same period last year, signaling a new development period for the sector.
The Vietnam Association of Seafood Exporters and Producers (VASEP) is optimistic about tra fish exports this year with a substantial demand recovery in import markets.
Vietnam’s tra fish export increased by 83.2% in the first half of this year, the highest growth rate among fishery products. Of note, Tra fish exports to the UK increased six-fold in the first half of this year.
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Illustrative image (Source: VNA) 
