FMC's August sales increased slightly to USD22.1 millionSunday, September 10,2023
AsemconnectVietnam - Sao Ta Food Joint Stock Company (stock code FMC - HOSE) just announced the business situation in August with a slight increase in sales compared to the same period last year, showing a movement in consumption recovery.
In August, finished shrimp production was 1,981 tons, equaling 105% of the same period last year. In which, production of finished agricultural products was 75 tons, equal to 54% over the same period last year, but increased 14% compared to the previous month. Consumption of finished shrimp products is 2,008 tons, equaling 115% of the same period last year. Consumption of finished agricultural products 85 tons, equal to 33% over the same period last year.
Overall, FMC estimates August's overall sales to reach USD22.4 million, up slightly from USD22.1 million in the same period last year. The company said that although shrimp consumption increased by 15%, sales only increased by about 1% due to low world shrimp prices.
Looking positively, this is the first month of positive growth this year. The growth is slight but shows a movement in consumption recovery.
In addition, regarding the situation of shrimp farming, FMC informed that shrimps were harvested from the new farming area. The old farming area has just been stocked for nearly a month.
Previously, Mr. Ho Quoc Luc, Chairman of FMC also commented that the third quarter will be the consumption season due to festivals, especially plans for Christmas and New Year consumption, so this will be the acceleration quarter for the fishing industry in general and shrimp industry in particular.
Vietnamese shrimp is in the process of accelerating delivery because consumption is near the end of the year of deeply processed shrimp, meeting the increased demand for the service segment. Mr. Luc said that this trend is expected to continue in the last months of the year.
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