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Business Update October 2017: Monthly Export Value (Usdm)

- Exports from Vinh Hoan hit a record high in October 2017, with sales 51% higher than the previous year due to increases in both price (29%) and volume (17%). For the first ten months of 2017, exports were up 8% overall compared to the same period in 2016. - Sales of collagen and gelatin increased dramatically by 732% while value-added products rose 164%; in contrast, pangasius fillets only increased slightly by 2%. As a result, collagen/gelatin and value-added products now make up a larger portion of total export value compared to pangasius fillets. - Strong export growth was seen in key markets like the Netherlands, Mexico

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93 views4 pages

Business Update October 2017: Monthly Export Value (Usdm)

- Exports from Vinh Hoan hit a record high in October 2017, with sales 51% higher than the previous year due to increases in both price (29%) and volume (17%). For the first ten months of 2017, exports were up 8% overall compared to the same period in 2016. - Sales of collagen and gelatin increased dramatically by 732% while value-added products rose 164%; in contrast, pangasius fillets only increased slightly by 2%. As a result, collagen/gelatin and value-added products now make up a larger portion of total export value compared to pangasius fillets. - Strong export growth was seen in key markets like the Netherlands, Mexico

Uploaded by

tapioca le
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Business Update October 2017

Exports value
Oct export sales hit record high at USD31.7 million, a surge of 51% year-on-year, of which 29% coming from
ASP increase and 17% from volume increase.
Overall, 10-month export sales reached USD247.1million, up by 8% year-on-year, thanks to 2% and 6% increase
in ASP and volume respectively.

Monthly export value (USDm)

33.0
31.7
28.6 27.5 28.9 27.7 27.1
24.5 25.5
22.5 22.5
21.3 21.3 20.8 20.9
19.3 19.4
17.7 17.6 17.7

Jan Feb Mar Apr May Jun Jul Aug Sep Oct

2016 2017

In Aug and Sep, sales slowed down mainly due to slight delay experienced in the early phase of Inspection
Program for Siluriformes Fish exported to the US which was fully implemented on Aug 02. Sales rallied in late
Sep and Oct as the inspection handling has become smoother after more US customers’ warehouses are
successfully granted as FSIS’s official import inspection establishments (“OIIE”), easing the pressure from lack
of OIIE that US importers faced previously.
Sales growth is patchy among products though, with collagen and gelatin saw an exponential growth of 732%
year-on-year and value-added products of 164% year-on-year, while pangasius fillets slightly increase by 2%.
As a result, contribution of each product category into total export value also changed towards more value-added
products, collagen and gelatin over pangasius fillets.

Export value growth by products (%) 8%


2%
247.1
228.3
207.7 212.8

732% 36% 164% 26%

13.4 17.0
0.5 4.5 3.6 4.9 3.0 7.9

Collagen & Gelatin Other seafood Value-added Fish oil & fish meal Pangasius fillets Totals export value
products products

10M2016 10M2017

Export value breakdown by product category


10m2017 vs 10m2016

2%2% Pangasius fillets


7%
3% Value-added products
2%
1%6%
Fish oil & fish meal

Collagen & Gelatin

Other seafood products

10M2016
91%

86%
10M2017

Market
The growth was also patchy across markets, with stronger growth recorded in Netherlands, Mexico, Japan, Spain,
China at 109%, 69%, 56%, 54%, 39% respectively in 9M2017. China also surpassed the UK to become our
second largest market. In the same period, we gained 5 more customers from Bangladesh, Czechia, Saudi Arabia,
UAE, Malaysia.
Other news
Within the framework of the APEC 2017 and the APEC CEO Summit, Vinh Hoan’s Chairwoman – Mdm. Truong
Thi Le Khanh – has had an in-depth interview with PwC regarding the topic of economic integration, shifting
cross borders activities, evolving relationship with partners, technology impacts on aquaculture, human factor
digital revolution, suggestions to the policy makers.

(Source: PwC)
On November 08, before the official visit of China’s President Xi Jinping to Vietnam for APEC 2017, the
Vietnam-China trade conference and contract signing ceremony had been held by China’s Ministry of Trade and
Vietnam’s Ministry of Industry and Trade. There were total 13 signed contracts in various industries such as food,
garment, plastic,..One of those was Octogone (Guangzhou) Trading Co.,Ltd (a subsidiary of Vinh Hoan
Corporation based in Guangzhou, China)’s cooperation agreement with trading partner in Chinese market.

Octogone (Guangzhou) Trading Co.,Ltd’s Director- Mr. Chan Xindong (first from left border) at the

trade conference and contract signing ceremony – Photo credit: Vinh Hoan

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