Minh Phu Seafood obtained $89.5 million in shrimp export
In the first nine months of 2012, Minh Phu Seafood exported 23,034 MT of frozen shrimp in all products to earn US$268.627 million.
The figures were up 22.56% in volume and 17.16% in value from the compatible time in 2011. Frozen shrimp trade in September 2012 went down from August 2012 in both volume and value.
In the third quarter of 2012, Minh Phu’s export of frozen shrimp in all products reached US$89.587 million, down from US$106.923 million in the previous quarter.
Minh Phu expected to earn profit in Q3 2012 when it saw positive signs from importing markets. As of mid August, shrimp export increased to some extent in volume and export price. As of September, foreign markets had high demand for pangasius to meet rising consumption in Noel and New Year’s holidays.
Currently, Minh Phu owns processing plant in Hau Giang province with annual expected production capacity of 40,000 MT of finished shrimp products. The plant brought back profits of VND7.07 billion in May, VND5 billion in June and VND16.8 billion in July. Minh Phu Seafood strived to boost production capacity by 50 percent since August and by 70 percent by the end of 2012 in order to reach profit of VND20 – 30 billion per month.
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