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Stronger pangasius demand drives growth at Vietnamese processor Navico

Company expects that its upcoming Binh Phu site will only increase demand.

Despite the depreciation of the Chinese yuan, Vietnam’s Nam Viet Joint Stock Company (Navico) reported demand for its pangasius products is high, keeping operations at full productivity.

The company also reported that its Chinese partner continues to send large purchase orders, and that the current orders will keep production going strong at least for the following months. Volumes are expected to continue to increase.

Navico had a turnover of $11.8 million (€10.5 million) in the month of July, a 25.4 percent increase year-on-year.

Pangasius raw material costs increased slightly, from VND 19,500 (€0.75/$0.84) to VND 22,000 (€0.85/$0.95) per kilogram in early August and the slow climb is expected to continue until the year's end, but Navico's selling price has also increased.

Navico recently started its massive Nam Viet Binh Phu high-tech aquaculture project in An Giang Province’s Chau Phu District.

The project is developed by Navico’s Nam Viet Binh Phu Seafood Co, Ltd. on an area of 600 hectares with a total investment of VND 4 trillion (€150.2 million/$172.2 million) in the district’s Binh Phu Commune.

The recent report stated that they expect the Binh Phu project to increase demand from Chinese partners.

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