Navico: Pangasius exports to Southeast Asia increase by 16%

While seeing a slump in sales in core markets in the first four months of the year, Southeast Asia strikes as a savior of Navico’s pangasius exports.

According to Nam Viet Corporation (Navico), even though exports to China, EU and Southeast Asia in April did not drop as much as in March, total export volume that Navico reached in April decreased by 19.7% to 28.5 million USD, compared to the same period last year.

As for market share, Southeast Asia is the only market increasing its purchase of Navico’s pangasius regardless of covid-19, up 16% from last year, reaching 10.5 million USD.

Upon the proposal by most shareholders, the Board of Navico has just announced a decision of paying dividends earlier than scheduled. Once decided to pay dividends on July 08, the corporation will implement the payment on May 20.

Recently, Minister of MARD Nguyễn Xuân Cường paid a visit to Navico’s hi-tech pangasius farming area in Bình Phú, An Giang.

He highly evaluated the corporation’s application of hi-tech and entirely closed value chain and committed to help Navico overcome difficulties during the pandemic by adopting the policy of extending the time of tax payment, social insurance fulfillment and reducing interest rate of loans and extending the time of debt payment.

Navico’s leaders said that by the end of April the corporation had stocked pangasius broodstocks in 50 ponds and commercial pangasius in 156 ponds in Bình Phú farming area and planned to harvest 105,000 tons of pangasius in 2020.

VFM

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