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Top 5 largest agriculture companies in Vietnam 2022

Top 5 largest agriculture companies in Vietnam 2022

Saturday 05, 11 2022
Vietnamese agricultural products are increasingly popular in the international market, which is significantly contributed by companies specializing in importing and exporting agricultural products.

Following is detailed information of the 5 largest agricultural import and export companies in Vietnam compiled by VietnamCredit.

1. INTIMEX GROUP JOINT STOCK COMPANY

The company was formerly Intimex Import-Export Joint Stock established in Ho Chi Minh City in 2006. In 2011, its name was changed to Intimex Group Joint Stock Company (Intimex Group).

Starting as a company with the charter capital of VND 14.4 billion, Intimex Group has become one of the leading brands in Vietnam in the fields of processing and exporting agricultural products (coffee, pepper, rice, cashew nuts…); importing frozen food, iron and steel; supermarket business; manufacturing and trading in building materials.

Currenty, the company has over 900 employees. Its charter capital is VND 223 billion. The import and export turnover of the company is over USD 1 billion USD a year; and its annual revenue is over VND 40 trillion.

In the field of processing, Intimex owns 11 high-quality export coffee processing factories located in key coffee production areas of the Central Highlands, and areas with favorable locations for the export of Vietnamese agricultural products with a total capacity of 570,000 tons/year. In addition, the group also has a clean pepper processing factory for export in Binh Duong with a capacity of 5,000 tons/year; 1 rice processing plant in Dong Thap with a capacity of 150,000 tons/year; 3 cashew processing factories for export in Tay Ninh and Binh Duong.

VIETNAMCREDIT Intimex Group

By the end of 2021, the total export turnover of Intimex Group's agricultural products reached USD 1.1 billion, 22% higher than in 2020; revenue reached nearly VND 48 trillion, up 26%; profit increased by 43%.

In particular, the company’s export volume of rice reached over 605 thousand tons; of coffee reached 410 thousand tons.

2. FRUIT-VEGETABLE EXPORT-IMPORT JOINT STOCK COMPANY

Fruit - Vegetable Export Import Joint Stock Company (VEGETEXCO I) was established in 2005. Over the past 17 years of operation, Vegetexco I is known as one of the leading companies in Vietnam in the field of production and export of canned vegetables and fruits, spices and other agricultural products.

Its vegetables and agricultural products are exported to the EU, USA, Russia, China and France. The company's main business is cashew nuts. Its cashew products include all kinds of preliminary processed cashew according to Vietnamese standards and American AFI standards (currently being used as a common standard in cashew trading on the world market), and deep processed cashew products with high added value such as salted roasted cashews, fried cashews, honey soaked cashews, Wasabi soaked cashews, cashew candies, etc.

Vietnamcredit VEGETEXCO I

3. VIETNAM SOUTHERN FOOD CORPORATION - JOINT STOCK COMPANY

Vietnam Southern Food Corporation JSC (Vinafood II) was established in 2010. It is the largest enterprise in Vietnam in the field of rice export. VINAFOOD II owns a system of factories and warehouses with a total storage capacity of 1.15 million tons stretching from Da Nang to Ca Mau, mainly in the Mekong Delta provinces to serve the storage and processing of agricultural products for export. The total capacity of the rice processing, milling and polishing system is 740 tons/hour, equivalent to 3 million tons/year.

Most of VINAFOOD II's factories currently use modern technology and equipment from Japan, Germany, Italy, France, Denmark. The company is increasingly expanding its scale and operations to meet the increasing demand not only in the domesic market but also abroad.

Vietnamcredit Vinafood II

In 2021, Vinafood II’s total net revenue reached VND 16,563 billion, which is the same as in 2020. However, its gross profit decreased compared to 2020 due to high cost of goods sold. After deducting expenses, the company recorded a net loss of VND 326 billion, up 36.5% over the previous year. Thus, by the end of 2021, the company had a total accumulated loss of VND 2,651 billion.

Also in 2021, the volume of rice solde by the company fell sharply by 30.99% compared to 2020 and reached only 459,970 tons, of which direct export decreased by 13.75% and domestic consumption decreased over 54.5%. The volume of flour and processed food sold increased by 17.65% and 19.7%, respectively compared to 2020.

4. VIETNAM NORTHERN FOOD CORPORATION LTD

Vietnam Northern Food Corporation LTD is a special state-owned enterprise established under Decision No. 312/TTg dated May 24, 1995 of the Prime Minister on the basis of reorganization of enterprises of the Central Food Corporation I and the food enterprises of the provinces in the North.

Since its establishment, the company has always operated stably. When established, its equity was less than VND 200 billion, of which losses and bad debts were nearly VND 100 billion. After nearly 30 years, the company's financial position has improved with no outstanding debts or bad debts.

Currently, the corporation has 30 independent accounting member units which have been equitized as subsidiaries; 05 affiliated companies and 03 joint ventures with foreign partners.

Vietnamcredit Vietnam Northern Food Corporation LTD

In 2021, the Corporation fully completed the planned targets. Specifically, the amount of food sold reached 1,401,250 tons, equivalent to 100% of the year plan. The rice export volume reached 661,493 tons, equivalent to 101.2% of the year plan. Export turnover reached USD 331.1 million, equivalent to 120.7% of the year plan. Total revenue of the corporation reached VND 16,232,131 million, equivalent to 108.6% of the year plan. Profit before tax reached VND 276,945 million, equivalent to 103.2% of the year plan.

5. VIETNAM NATIONAL VEGETABLE, FRUIT AND AGRICULTURAL PRODUCT CORPORATION - JOINT STOCK COMPANY

The predecessor of Vietnam National Vegetable, Fruit and Agricultural Product Corporation - Joint Stock Company is the Vietnam Fruit and Vegetable Corporation, which was established under the Decision No. 63NNTCCB/QD dated 11/2/1988. In 2003, the company was established under Decision No. 66/2003/QD/BNN-TCCB.

With over 500 employees, 3 dependent companies, 26 associate companies, 05 joint venture companies, 02 representative offices, Vegetexco Vietnam always takes the lead in promoting, processing, exporting vegetables and fruits, agricultural products and importing materials and machines for agricultural production in Vietnam.

Vietnamcredit Vietnam National Vegetable, Fruit and Agricultural Product Corporation - Joint Stock Company

In the third quarter of 2021, Vegetexco achieved net revenue from selling goods and providing services of VND 83.7 billion, down 2% compared to the same period in 2020. Its gross profit was negative at VND 6.2 billion and loss after tax reached VND 49 billion. The Corporation explained that the Covid-19 epidemic was complicated, leading to difficulties in production, import and export activities.

As of the end of September 2021, Vegetexco had total assets of VND 3,467.7 billion, up 35% compared to the beginning of the year, thanks to raising more equity capital.

Alice Hoang Thao – VietnamCredit

 

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