Welcome to FIS   Sponsored By
United States
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Pangasius processing plant (Photo: VASEP)

Pangasius companies' stock prices plummet (Video)

Click on the flag for more information about Viet Nam VIET NAM
Tuesday, September 17, 2019, 05:00 (GMT + 9)

In July, tra fish (pangasius) export value decreased by 12.7 percent month-on-month and this was the 5th consecutive month seeing prices falling. In the first seven months of this year, total export value of tra fish dropped by 5.5 percent to USD 1.13 billion.

In 2018, the US made up more than 24 percent of Vietnam's tra fish export market, becoming the country’s largest tra fish consumer with import value soaring 54.5 percent year-on-year. China was second with a growth rate in imports of 29 percent, accounting for 23.7 percent of Vietnam's tra fish market.

This year, the Vietnam Association of Seafood Exporters and Producers (VASEP) forecast that the US imposition of tariffs on Chinese tilapia would create opportunities for Vietnamese tra fish.

However, orders from the US plummeted. In July alone, tra fish exports to the US fell to USD 167.6 million, sending US to second position after China, with USD 168 million. 

The Dong Thap province-based tra fish processor Vinh Hoan Company (VHC) saw both revenue and profit in the second quarter slumping, down 9.6 percent and 7 percent, respectively.

In July, VHC recorded a 23 percent decrease in tra fish export value over the same period last year, to USD 28 million . In seven months, VHC's exports dropped by 4.6 percent to USD 186 million. The US, VHC’s main export market, saw tra fish value purchased from the company drop by 34 percent in seven months.

Falling exports caused VHC shares to fall. After reaching a peak of VND107,700 (USD 4.6 ) per share at the end of 2018, VHC dropped sharply to hover around VND80,000 per share in late August this year. 

The Cuu Long Fish Joint Stock Company ( CL-Fish Corp | ACL) recorded revenue falling 4 percent in the second quarter, reaching VND373 billion. After-tax profit rose by 18 percent to VND59 billion. Six-month revenue and profit still gained 13 percent and 50 percent to touch VND817 billion and VND113 billion, respectively.

Another tra fish exporter – I.D.I International Development & Investment Corporation – also witnessed a sharp decline in profits. Although 6-month revenue increased by 31 percent to VND3.7 trillion, after-tax profit slumped by 29 percent to VND226 billion.

On the stock market, IDI has lost 40 percent in the past year and is currently trading at VND6,180 per share.

Hung Vuong Corporation pangasius farm

The Hung Vuong Corporation (HVG), one of the biggest seafood processors in Vietnam, and its affiliate Agifish (AGF), also faced difficulties when the US Department of Commerce announced its final decision of the DOC’s 14th Period of Review on anti-dumping tariffs on Vietnam’s tra fish batches imported into the country.

Under the decision, the official tariff on HVG’s products is USD 3.87  per kg, compared to the preliminary level of zero US dollar per kg.

In the third quarter of fiscal year 2019 (April 1-June 30), HVG suffered a big loss of VND129 billion, while revenue fell 64 percent to VND527 billion.

Hung Vuong Corporation pangasius products

In the first nine months of the fiscal year 2019 (October 1, 2018 to June 30, 2019), HVG lost nearly VND257 billion.

Its affiliate company, Agifish, also saw 9-month revenue drop 41 percent to VND 639 billion, thereby suffering a loss of VND118 billion.

In mid-April 2019, HVG hit its one-year peak of VND8,500 per share, but then fell.

Source: sggpnews



www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Argentina
Nov 27, 04:00 (GMT + 9):
The 'Mar Argentino' reached Mar del Plata port.
European Union
Nov 27, 00:20 (GMT + 9):
Other Media | EuropaAzul: The European Union (EU) and the Cook Islands government have renewed their agreement on tuna
United Kingdom
Nov 27, 00:00 (GMT + 9):
Other Media | Industrias Pesqueras: UK publishes new guide for fish shipowners and exporters on the day after 'Brexit'
New Zealand
Nov 26, 18:00 (GMT + 9):
Overseas fishing crew refused permission to apply for visas ahead of Antarctic season
South Korea
Nov 26, 10:00 (GMT + 9):
Live baby clam imports, up 18% year-on-year
Spain
Nov 26, 07:00 (GMT + 9):
Andalusia has a new brand that distinguishes the quality of its products
Ecuador
Nov 26, 05:00 (GMT + 9):
SSP Bringing the power of informed choice to the seafood consumer
Netherlands
Nov 26, 03:00 (GMT + 9):
First day of listing for The Kingfish Company at the Oslo Merkur Market
Norway
Nov 26, 00:10 (GMT + 9):
Other Media | Fish Farmer: Salmon prices on the rise again
Uruguay
Nov 26, 00:10 (GMT + 9):
DINARA and the Coast Guard spoke about the arriving of deceased crew in Montevideo and illegal fishing
Japan
Nov 26, 00:10 (GMT + 9):
Volumes and Prices │ Crabs │ Tokyo Central Fish Market │ October-2020
United Kingdom
Nov 26, 00:00 (GMT + 9):
Other Media | FiskerForum: Data Collection Programme Calls On Industry For Support
Japan
Nov 26, 00:00 (GMT + 9):
Volume and prices │ Octopus │ Tokyo Market │ 2020 | Fresh, Frozen, boiled, vinegar and seasoned
Japan
Nov 26, 00:00 (GMT + 9):
Volumes and Prices │ Pollock roes (Tarako & Mentaiko)│ Tokyo Central Fish Market │ September-2020
Falkland Islands
Nov 25, 23:00 (GMT + 9):
IN BRIEF - The government of the Falkland Islands offered a balance of the investment program



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Huge search continues for missing crew after fishing boat sinks
United Kingdom A desperate search for two missing fishermen has entered its second day after their boat sank off the East Sussex coast. The coastguard pulled one man from the water after the vessel, Joanna C, se...
Domestic market situation for wholesale frozen fish
Russia Fed. From November 16 to 22, the price dynamics of frozen fish in the wholesale segment of the domestic market continued to be multidirectional. In the Far East region, prices for pollock (93 rubles / k...
BREXIT: Flagship Fisheries Bill becomes law
United Kingdom The Fisheries Bill receives Royal Assent after 10 months in Parliament Yesterday the UK’s first major domestic fisheries legislation in nearly 40 years passed into law. The Fisheries Act 2020...
Lots of fishing is going on across Alaska – November updates!
United States A preliminary wrap up of Alaska’s 2020 salmon fishery shows that communities will be hurting in terms of fish tax revenues this coming year. The value of salmon landings is down by half or much ...
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2020 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER