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Top 5 largest pesticides companies in Vietnam

Top 5 largest pesticides companies in Vietnam

Monday 28, 02 2022
Loc Troi Group Joint Stock Company is currently the largest manufacturer of plant protection products in Vietnam with 20% of market share. Following is Vietnam Fumigation Joint Stock Company with about 7.4% market share. HAI Agrochem Joint Stock Company is the third largest companies in terms of market share (5.5%).

Market

1. LOC TROI GROUP JOINT-STOCK COMPANY

Established in 1993, after nearly 30 years of development, Loc Troi Group (LTG) has always been attached to farmers and contributed to the sustainable development of Vietnam's agriculture. The Group has 25 branches spreading across Vietnam, and one branch in Cambodia.

Loc Troi Group - formerly known as An Giang Plant Protection Joint Stock Company (AGPPS) is a leading manufacturer, supplier of products and services in the field of agriculture in Vietnam. The company owns a sustainable value chain from research, production and sales of seed products, plant protection drugs, bio-organic products, rice, and coffee.

In 2021, Loc Troi recorded revenue of 10,224 billion VND, up 36% over the same period. This is also the highest revenue in the company's history. In the revenue structure of Loc Troi, a significant growth in food products was recorded.

After deducting expenses, profit after tax reached 422 billion VND, up 14.4% compared to the performance in 2020. In 2021, LTG set a target of 400 billion VND in profit after tax. Thus, at the end of the financial year, the company completed 105.5% of the annual profit plan.

Loc Troi Group

2. VIET NAM FUMIGATION JOINT STOCK COMPANY

Vietnam Fumigation Joint Stock Company (VFG) was esblished on the basis of equitization of Vietnam Fumigation Company, a State-owned enterprise established in 1993. In 2001, Vietnam Fumigation Joint Stock Company was merged into the Vietnam Inspection Fumigation Joint Stock Company. In August 2009, Vietnam Fumigation and Inspection Joint Stock Company changed its name to Vietnam Fumigation Joint Stock Company. In December 2009, the company's stock code VFG was officially listed on HOSE.

Vietnam Fumigation Joint Stock Company is considered as one of the top agricultural pharmaceutical companies in Vietnam with over 7% market share. At the same time, the company is also considered as the leading enterprise in the field of providing disinfection and pest control services with more than 80% market share.

The company’s net revenue in the second quarter of 2021 reached 533.9 billion VND, a slight increase of 2% compared to the same period in 2020. Cost of goods sold also increased slightly by 6% to 407 billion VND, leading to a decrease of 8% in gross profit to 126.9 billion VND.

VFG set a revenue target of 2,250 billion VND for 2021, up 7% compared to the result in 2020; profit after tax decreased by 8% to 150 billion VND.

As of June 30, VFG's total assets decreased by 5% compared to the beginning of the year, to 1,751 billion VND. In particular, cash and cash equivalents increased by 55% to 511.8 billion VND, accounting for 29.2% of total assets; inventories decreased by 27.9% to 511.2 billion VND, accounting for 29.2% of total assets.

VIET NAM FUMIGATION JOINT STOCK COMPANY

3. HAI AGROCHEM JOINT STOCK COMPANY

Hai Agrochem Joint Stock Company, whose original name was Southern Plant Protection Supplies Company, was established in 1993. Through many transformations, on February 7, 2005, HAI Agrochem was officially established on the basis of equitization of Plant Protection Company II.

With 01 subsidiary and 02 representative offices in Long An, Cambodia and over 300 intermediary distribution customers, HAI Agrochem has been asserting its strong position compared to other enterprises in the same industry.

The consolidated financial statements for the fourth quarter of 2021 of H.A.I Agrochem Joint Stock Company show that its net revenue from sales and service provision reached 273 billion VND, up 84% over the same period.

Financial revenue in the period decreased by nearly 5 billion VND to 21 billion VND. Interest expense decreased by nearly 7 billion VND, and selling expenses decreased by more than 3.3 billion VND. Administrative expenses increased slightly to 12.3 billion VND. As a result, H.A.I reported a loss of nearly 1.5 billion VND while the same period in 2021 its profit was more than 5.3 billion VND.

HAI AGROCHEM JOINT STOCK COMPANY

4. GOLDEN RICE AGROCHEMICAL COMPANY LIMITED

Golden Rice Agrochemical Co., Ltd was established in 2003. After nearly 20 years of establishment and development, the company has become a very familiar brand to Vietnamese farmers. It currently has more than 100 plant protection products divided into 5 categories: Insecticides, Herbicides, Pesticides, Snail drugs, Growth stimulants, with brands such as Cure Super, Gammalin, and Asco Gold.

Golden Rice currently has many offices located in Ho Chi Minh City, Can Tho, Binh Duong, Vinh Lon. Besides, the company's system of sales agents are located in all provinces and cities in Vietnam.

GOLDEN RICE AGROCHEMICAL COMPANY LIMITED

5. BAYER VIETNAM LIMITED

Bayer Vietnam Co., Ltd. under Bayer Group (Germany) was established in 2003 on the basis of merging Bayer Agritech Saigon and Aventis CropScience Vietnam.

Bayer Vietnam is currently operating with two modern factories in Dong Nai and Binh Duong provinces, and two offices in Hanoi and Ho Chi Minh City to support the common business activities of the whole company. Bayer brands in the fields of plant science (Bayer CropScience), personal health care (Bayer HealthCare), materials science (Bayer MaterialScience) are increasingly trusted and appreciated by Vietnamese consumers. The company's annual sales are constantly growing.

BAYER VIETNAM LIMITED

Henry Tran - VietnamCredit

 

 

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