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Sao Ta Foods (FMC) achieved USD11.3 million sales in February 2024 

 Monday, March 18,2024

AsemconnectVietnam - Sao Ta Food Joint Stock Company (stock code FMC - HOSE) has just announced the Company's February operations.

Sao Ta said that due to the Lunar New Year holiday falling in February, FMC only operates 21 days a month. In general, shrimp raw materials are low due to the end of the season and orders are also few.
As a result, finished shrimp production was 931 tons, equal to 92% compared to the same period last year; Consumption output reached 982 tons, equal to 91% over the same period last year.
Production of finished agricultural products was 63 tons, equal to 31% over the same period last year; Consumption reached 87 tons, equal to 79% over the same period last year.
Overall sales reached USD11.3 million, equal to 84% over the same period last year.
In the first month of the year, FMC's sales reached 19.2 million USD, up 26% over the same period. Of which, finished shrimp consumption reached 1,614 tons; Consumption of finished agricultural products reached 189 tons, increasing by 45% and 16% respectively over the same period.
On the stock market, closing the trading session on March 1, FMC shares stood at the reference price of 47,800 VND/share.
According to the forecast of Ms. Tran Thuy Que Phuong - Chief of Office of the Vietnam Association of Seafood Exporters and Producers (VASEP), the shrimp industry will continue to face poor growth in 2024 due to the influence of negative factors in 2023.
However, Vietnam's shrimp exports still have a chance to recover and grow slightly in 2024, at a level of 10% to 15% because the economies of countries with shrimp consumption demand gradually recover; Enterprises promote the production of value-added products and deep processing.
In addition, the demand for products with protein sources from aquatic products is gradually replacing protein sources from animals, so in the coming time, seafood, especially shrimp, has the opportunity to develop.
Source: VITIC/Tinnhanhchungkhoan


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