Minh Phu Seafood Corp: Expand farming area, assure adequate raw materials

Through April 2011, Minh Phu Seafood Corp shipped 6,836 MT of finished products, totaled $US 81.37 million.

Mr. Le Van Diep, Vice General Director of Minh Phu Seafood Corp, said in Q1/2011, the corporation exported more than 4,800MT of frozen shrimp, worth around US$55.9 million, up 65.57 percent in volume and 79.46 percent in value over the same period of last year.

In the first quarter this year, the US remained the largest market of Minh Phu Seafood Corp, which imported more than 1,500MT of shrimp, worth US$21.86 million, followed by Japan, South Korea, Canada and EU.

Through April 2011, Minh Phu Seafood Corp shipped 6,836MT of finished products, totaled US$81.37 million, up 56.81 percent in volume and 73.35 percent in value against the same period last year.

In Q1/2011, Minh Phu Corp had to fight against numerous difficulties since the global economy had not fully recovered. In domestic market, bank interest rate and raw material price increased rapidly.

Howere, the company managed to earn VND1,610.38 billion in revenue and VND11.48 billion in after-tax profit, respectively up 57 percent and 4 percent.

Minh Phu Seafood Corp will expand farming area in order to have adequate raw material for its processing activities.
Source: Vietfish International
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