Bau Duc: Mulberry can surpass bananas, becoming HAGL's main revenue source

(Dan Tri) - After many experiments in agriculture, Mr. Duc discovered that mulberry will be the new main product of Hoang Anh Gia Lai in the coming years.

"From 2026, Hoang Anh Gia Lai (HAGL) will officially record profits from the mulberry sector. In the future, mulberry will likely be the main source of revenue for the company, replacing bananas," said Mr. Doan Nguyen Duc (Bau Duc), Chairman of HAGL, during a recent visit to The X Tour farm.

Mulberry cultivation and silkworm breeding is one of two new business segments of HAGL (stock code: HAG), announced by Mr. Duc at the shareholders' meeting in June this year.

Currently, the company is growing 2,000 hectares of mulberry, completing two factories with 40 silk weaving lines in Gia Lai. Of which, Ham Rong silk spinning factory (capacity 280 tons of silk/year) has been in operation since June.

Bau Duc estimates that the capacity of one production line will produce 150kg of silk per day. Currently, silk production is still low, the company just exported the first batch of raw silk to India in July.

Silk workers in Ham Rong factory (Photo: Tri Tuc).

According to HAGL, mulberry is similar to banana, and there is already a market for this commodity in the world , so there is no need to worry about a lack of buyers. The price of raw silk on the international market is about 65 USD/kg (about 1.6 million VND).

In addition, a small part of the silk the company is supplying to Bao Loc Silk of Mr. Ly Xuan Hai - former General Director of Asia Commercial Bank (ACB ). Mr. Duc revealed that he learned about this silkworm sector thanks to Mr. Ly Xuan Hai's advice, from which the idea came up and he started testing.

Mr. Duc shares with visitors at the durian garden in Laos (Photo: Tri Tuc).

Hung Thang Loi will be listed from the second quarter of 2026

Notably, HAGL has approved a plan to list two subsidiaries, Hung Thang Loi Gia Lai and Gia Suc Lo Pang, on the stock exchange in 2026 and 2027.

In which, Hung Thang Loi will change its name (Hoang Anh Gia Lai International Investment Joint Stock Company), expected to be listed in the second quarter of 2026.

Source: https://dantri.com.vn/kinh-doanh/bau-duc-dau-tam-co-the-vuot-chuoi-thanh-mang-thu-chinh-cua-hagl-20251114210402982.htm