AsemconnectVietnam - In July, the sales of Sao Ta Food JSC (code FMC) reached USD31.25 million, up 8.5% over the same period last year. This is also the month Sao Ta has the highest sales since the beginning of 2024.

In terms of operations, in July, for finished shrimp, FMC produced 4,098 tons and consumed 2,713 tons, up 75% and 7% respectively over the same period last year. For finished agricultural products, FMC produced 20 tons and consumed 147 tons, down 70% and 22% respectively over the same period.
FMC assessed that output and sales both increased in the same direction as processed output. FMC has enough orders for double-digit growth this year.
Commenting on the coming months, FMC said that heavy rains will occur in August and September, making shrimp farming more difficult, especially in the context of a high rate of diseased shrimp larvae, the success rate will decrease, causing damage. Therefore, from now until the end of the year, the amount of commercial shrimp in the country will not be much, prices will increase according to the law of supply and demand, causing more difficulties for processing facilities.
For Sao Ta, the enterprise has finished harvesting shrimp raised in the new farm and is harvesting the old farm, expected to be completed in mid-September. The weather is unusual and unfavorable, so the next crop will be released in the fourth quarter, when the rain stops, to reduce risks. Shrimp farming results are quite stable, although the disease has caused shrimp to develop not as expected.
However, difficulties will come from two lawsuits on anti-subsidy and anti-dumping taxes in the US market. On the evening of August 2, 2024, Vietnam time, the US Department of Commerce (DOC) announced that it has not recognized Vietnam as a market economy, even though our country has been recognized as a market economy by 72 countries, including the UK, Canada, India, Japan, Korea, Australia, etc., which are large countries.
"This event will continue to be disadvantageous for our businesses exporting to the US that are unfortunately involved in lawsuits as mentioned above, including our shrimp business community. Because of that, DOC will not recognize the data provided by our businesses for tax consideration, but will instead take alternative data from a third country, causing many inconveniences, costs, and even unfairness", FMC stated.
N.Nga
Source: VITIC/Tinnhanhchungkhoan