AsemconnectVietnam - Sao Ta Food Joint Stock Company (code FMC - HOSE) has just announced its production and business situation in November 2025 with revenue down 12% compared to the same period and down 39% compared to the previous month.

Specifically, in November, Sao Ta's production activities recorded positive growth, when finished shrimp output reached 1,984 tons, up 32% over the same period, and finished agricultural products reached 52 tons, up 23%.
However, the consumption situation was slower when the amount of shrimp sold reached 1,490 tons, down 9%, and agricultural products consumed only 29 tons, down sharply 69% compared to the same period last year.
Accordingly, Sao Ta's consolidated revenue in November reached USD16.16 million, down 12% year-on-year and down nearly 39% compared to the previous month (USD26.47 million). In the shrimp farming segment, the Company completed stocking in the new area in November and plans to continue stocking in the old area when the weather conditions are favorable. According to Agriseco, in the third quarter of 2025, FMC focused on harvesting the main crop and renovating the ponds, resulting in the end-of-period inventory value of only VND652 billion - the lowest level since the first quarter of 2021. Therefore, sales in the fourth quarter of 2025 are forecast to be limited due to the limited availability of raw materials. On the other hand, consumption demand is likely to remain stable, as the Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that shrimp demand will increase again by the end of the year thanks to recovering purchasing power and peak holiday seasons in major export markets, which is expected to support positive selling prices.
However, the Vietnamese shrimp industry is currently subject to three types of taxes when exporting to the US: anti-circumvention (CVD), anti-dumping (AD) and countervailing duties. Of which, the 20% countervailing duty (officially from August 1, 2025) is the reason why FMC is having difficulty achieving its profit plan, despite a 15% increase in selling prices. In addition, new risks come from the preliminary results of POR19, the US plans to raise the AD tax on FMC to 35.29%, the final figure will be announced on December 9, 2025. Agriseco stressed that this requires FMC to shift orders and increase value-added products to minimize the impact.
N.Nga
Source: VITIC/Tinnhanhchungkhoan