Report

Seafood industry – Slow recovery

  • Pangasius exports to China unexpectedly took a sharp downturn in April, opposing the conventional thinking of a strong rebound after the economic reopening. The turning point of pangasius export to this market is likely to trail towards Q4/2023. We expect that pangasius processors may experience more positive business results in late Q3/2023.
  • Shrimp exports show no sign of recovery yet. A significant drop in sales is foreseen for shrimp companies. However, companies that demonstrate effective management of input materials or expand their farming areas can mitigate production costs, thus contributing to maintaining profitability this year.

 

Provider
Viet Dragon Securities
Viet Dragon Securities

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Analysts
Loan Nguyen

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