Archive for the ‘Agifish’ Category

Vietnam: China’a Seafood Exports Slide as Vietnam’s Boom

July 23, 2007

HANOI, July 23  – Despite years of disagreement with the United States about the health and cleanliness of Vietnam’s exported catfish, Vietnam’s catfish exporter Agifish said on Monday its net profit in the first half jumped 67 percent from a year earlier to nearly 30 billion dong ($1.9 million) on robust export demand.

Even as China’s exports of seafood to the U.S. have declined this year as the U.S. Food and Drug Administration (FDA) said China’s exported seafood is largely tainted, Vietnam seems to have recovered from previous FDA criticism.

Based in the Mekong Delta province of An Giang, Agifish said in a statement that its first-half revenues rose 6 percent compared with the same period last year to 565.2 billion dong ($35 million).

Agifish said it planned to list 4.9 million additional shares on the Ho Chi Minh Stock Exchange on Thursday.

Agifish has projected its net profit for the whole of this year to rise 54 percent from 2006 to 70 billion dong. It expects annual export revenue of $67 million.The company exports fish, shrimp and also supplies material for agricultural production. ($1=16,138 dong)
–Dhan Dan (Official News of the Vietnamese Community Party)