Nam Viet Co to buy 40,000 extra tonnes of tra catfish

Tuesday, June 10, 2008
The HCM City Stock Exchange listed firm, Nam Viet Seafood Export Joint Stock Co (Navico - coded ANV) on June 9 signed new contracts to buy tra catfish from hundreds of farmers.

To increase the amount of tra catfish that they buy from existing stocks in the Mekong Delta region, the company has raised the processing capacity of its factories from 1,200 tonnes to 1,300 tonnes per day.

Due to high-interest bank loans, the company will pay 20% in advance with the remaining being paid within a month. With the current price of VND14,000 per kilogram, farmers have agreed to sell catfish to the company at a loss of VND1,600-1,800 per kilogram.

Earlier, on June 8, the general director of Nam Viet Company, Doan Toi, agreed to buy 40,000 tonnes of tra catfish from farmers’ stock.

Nam Viet Seafood exporter nets less

Friday, May 16, 2008
Nam Viet Joint Stock Company (ANV), earned revenue of more than VND700 billion (US$43.75 million) from goods and services in the first quarter of the year, 14.42 per cent lower than for the same period last year. Post-tax profit amounted to VND72.5 billion, a decline of 41 per cent.
Nam Viet’s main business includes processing and exporting of tra and basa catfish and other seafood products to Russia, the European Union, China, Australia and 40 other countries.