October 31, 2012
Vietnam's HVG to support Mekong Delta's pangasius fish farmers
Vietnam's leading pangasius fish exporter, Hung Vuong Group (HVG) will finance a fish feed package worth VND500 billion (US$23.92 million) to 50 pangasius fish farmers in five provinces in the Mekong Delta.
The aquatic feed produced by Viet Thang Co., which is 28.54% owned by HVG, will be given to farmers in An Giang, Dong Thap, Vinh Long, Tien Giang provinces and Can Tho city at zero interest rate for the two months starting from November 1, said Duong Ngoc Minh, general director of the company as quoted by the newspaper.
The firm will purchase the fish weighed at least 500 grams each from the local farmers at a price of between VND21,000 (US$1) and VND23,000 (US$1.1) per kilogramme, which is higher than the market price, Minh said.
The selected farmers must have about 100 hectares of pangasius fish cultivation, he added.
HVG made an audited consolidated net profit of VND183.28 billion (US$8.8 million) on revenues of VND3.57 trillion (US$172 million) in the first half of this year, falling by 22% and 6.05% on-year, respectively.