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Top 10 fishery companies in Vietnam

Top 10 fishery companies in Vietnam

Monday 20, 07 2020
Vietnam Credit Rating JSC (VietnamCredit) officially released the Industry Average Index of Vietnam's fishing industry and the list of top 10 fishery companies in Vietnam in 2019.

VietnamCredit’s Industry Average Index

VietnamCredit’s Industry Average Index (VnC-IAI) is an industry index developed by VietnamCredit in 2009 with the goal of creating a basis to evaluate and compare the performance of businesses in the same industry.
For the VnC-IAI of Vietnam’s Fishing Industry 2019, the data was compiled from financial statements of 161 typical businesses operating in the fishing industry. 

Although VietnamCredit has carefully investigated, appraised and rated businesses as accurately as possible, due to the fact that revenue structure of each sub-sector is not indicated in the financial statements as well as the registered business lines are sometimes different from the actual ones, VnC-IAI is more or less affected.

The accuracy of VnC-IAI will for sure improve as business sub-sector classifications are more and more completed, and information on business activities of enterprises is updated transparently, fully and automatically.

Top 10 fishery companies in Vietnam

Top 10 fishery companies in Vietnam

The list of top 10 businesses in the fishing industry is prepared by VietnamCredit on the basis of scientific and objective principles. The evaluation criteria include credit ratings, size of businesses and financial indicators over 3 consecutive years from 2017 to 2019.

Founded in 1997 in Dong Thap, Vinh Hoan Corporation is the leading enterprise in processing and exporting Pangasius in Vietnam. The company operates on the basis of optimizing the value chain from breeding, raising to processing and exporting Pangasius. 

According to the annual report of 2019, the company currently owns 5 factories for producing pangasius fillets and value-added products, 2 factories for processing fish meal and fish fat, 1 subsidiary specializing in pangasius breeding and 1 subsidiary that produce collagen and gelatin from fish skin.

C.P Vietnam Corporation is a 100% foreign-invested company established by C.P Thailand, a multi-industry manufacturing and trading group, established in 1993.

In the field of aquatic feed production, the company currently has three food and seafood processing factories built according to European standards in Dong Nai and Hanoi. Raw materials for production are supplied by CP Vietnam’s raw material factory, therefore, they are strictly controlled on quality and food hygiene and safety, contributing to improving efficiency and optimizing profits.

Minh Phu Seafood Joint Stock Company was established in 1992 as a private enterprise specializing in exports. The company was listed in 2007 with stock code MPC, traded on UPCoM.

After nearly 30 years of operation, Minh Phu Seafood JSC has become one of the leading enterprises in Vietnam's fishing industry with two key products including black tiger shrimp and white-leg shrimp. The company is the first seafood company in Vietnam to achieve Global Gap certification for the field of shrimp farming and processing for export. Its consumption network has been expanded into international markets such as the United States, the EU, Canada and Australia.

Cargill Vietnam Co., Ltd. was established in 1995 by the world's leading corporation in the field of manufacturing and trading agricultural products, foodstuffs and financial services after the diplomatic relation between Vietnam and the United States was normalized. With the advantage of the parent company, Cargill Vietnam has become one of the leading manufacturers and suppliers of animal and aqua feeds in the Vietnamese market.
Currently, the company has 11 food processing plants across the country, including Dong Nai, Long An, Tien Giang, Can Tho, Dong Thap, Binh Duong, Binh Dinh, Nghe An and Hung Yen, and Ha Nam with more than 2000 employees. The raw materials used to process the company's products are mainly imported from Argentina, India, the United States, Belgium and Australia.

De Heus Vietnam was established in late 2008, specializing in the production of animal cattle, poultry and aquatic feed. The company currently owns a system of factories and transshipment warehouses operating nationwide with 3 brands De Heus, Windmill and Koudijs. De Heus Vietnam not only provides products for the Vietnamese market but also for Southeast Asia.

Sao Ta Foods Joint Stock Company was established in 1995 and officially went into operation in 1996. The company specializes in processing frozen shrimp for export.

In Vietnam, Sao Ta's shrimp products are widely consumed via its distribution systems across the country. Japan, the United States and the EU are the three major markets of Sao Ta, accounting for over 90% of total frozen shrimp exports. Sao Ta's raw materials are mainly purchased domestically. Besides, the company also imports flour from Thailand and machinery from China.

The company was established in 1978 and transformed from a state-owned company to a joint stock company in 2006, under the name Soc Trang Seafood Joint Stock Company. The company's main business activity is processing and trading frozen shrimp, including sushi, nobashi, shrimp powder, and black tiger shrimp. 
In Soc Trang province, the company currently has 2 frozen factories: Tan Long and An Phu, which have quality management systems meeting ISO 9001: 2000, HACCP and BRC standards.

GreenFeed Vietnam Corporation was established in 2003 with a charter capital of VND 349 billion and its headquarters is located in Long An Province. The company started out in the field of animal, poultry and aqua feed production, and has grown to become a very large-scale enterprise in the industry. 

Currently, GreenFeed has a system of 9 modern factories in Vietnam, Cambodia, Myanmar and Laos, providing more than 2 million tons of products annually. All factories are equipped with production technology from America and Europe with input materials and output products that are strictly controlled on quality and origin.

Uni - President Vietnam Co., Ltd was established in 1999 with the first factory located in Song Than II Industrial Park, Binh Duong. The principal activities of the company are to produce and trade aquatic and animal feed, flour, instant noodles and soft drinks. 

Uni-President's products are consumed in the domestic market and exported to the United States, Germany, Australia, Japan, Philippines, Singapore, Malaysia, China, etc. Facing the increasing demand of the market, Uni-President Vietnam has expanded and inaugurated more factories in Tien Giang, Ninh Thuan and Quang Nam, to meet the needs of Southeast Asian market.

Minh Phu Hau Giang Seafood Joint Stock Company is a processing factory of Minh Phu Seafood Joint Stock Company. Currently, Minh Phu is holding more than 98% of Minh Phu Hau Giang's shares. In 2013, the company was invested by Mitsui, a leading seafood corporation in Japan and Asia. 

The business operates in the field of purchasing and processing frozen shrimp for export. Its raw materials are purchased from the domestic market, mainly from the shrimp farms of Minh Phu Group member companies and neighboring farming households.

For more information on business activities, size, labor force, financial performance, credit ratings as well as position in the industry of these 10 businesses, please refer to the full version of Vietnam’s Fishing Industry Report 2019 of VietnamCredit, or contact us via [email protected]

​>> Fishery Industry Report

Source: Vietnam’s Fishing Industry Report - VietnamCredit


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