More than 99% of Minh Phu shrimp sold each year is exported, so the business plans to increase "coverage" in the domestic market when bringing products to supermarkets.
This sharing was said by Mr. Le Van Quang - Chairman of the Board of Directors and CEO of Minh Phu Seafood Group, on the sidelines of the cooperation signing ceremony with Bach Hoa Xanh on March 26, in Ho Chi Minh City.
Minh Phu Seafood Group, established in 1992, is the largest shrimp exporter in Vietnam. Chairman Le Van Quang revealed that over the past 30 years, many times he wanted to bring products to domestic supermarkets, but was mostly refused because of the high price of Minh Phu shrimp. But, according to him, compared to quality, the company's price is "reasonable for the cost".
This partly explains why, each year the business sells about 50.000 tons of shrimp, but more than 99% is exported, only 0,5% is consumed domestically. "The domestic market share is difficult to "bulge" because consumers do not dare to pay for quality products," he said. Currently, Minh Phu's export shrimp prices are 10-20% higher than domestic retail products.
However, the "shrimp king" said it was time for them to "return home" by cooperating with retailers, bringing quality products (not contaminated with banned substances or antibiotics) and reasonable prices to consumers. use.
"We hope this "handshake" with Bach Hoa Xanh will help the business increase its market share in the domestic market," Mr. Quang said, and said he will "cover" the product in many different channels to increase the market. portion up 5-10%.
Minh Phu's shrimp of 30 pieces per kg are sold at Bach Hoa Xanh's supermarket chain. Image: flexible knitting
This enterprise also applies MPBiO biotechnology (not using antibiotics or chemicals) that they researched and developed into shrimp farming. This technology does not consume much electricity or water and helps them reduce farming costs by 50%.
Thanks to that, shrimp sold in Minh Phu's domestic market reaches the same quality as Japanese, US and EU export standards. Same price or lower.
After six months of trial sales, the Bach Hoa Xanh chain consumed more than 1.300 tons of Minh Phu shrimp, earning about 220 billion VND. This year, the company aims to sell 3.000 tons, with revenue of 500 billion VND at its 1.700 supermarkets.
"In the past, good products were often reserved for export, but now we do the opposite, bringing the freshest, highest quality products to serve Vietnamese people," said Mr. Pham Van Trong - CEO of Bach Hoa Xanh. Minh Phu's fresh shrimp products are sold at this system for 186.000 VND (30 shrimp) per kg.
Minh Phu Shrimp is supplying to more than 50 countries, with revenue of over 10.000 billion VND per year. Increasing exports and finding a foothold in the domestic market, the "shrimp king" aims to grow 50% over the same period last year and return to profit.
Thi Ha
