Minh Phu CEO: Shrimp sales improving despite uncertain economy

Speaking at The Center for Responsible Seafood’s 2023 Shrimp Summit in Vietnam on 25 July, Minh Phu CEO Le Van Quang said his company’s shrimp sales have shown signs of improvement recently.

Minh Phu reported a loss of VND 95 billion (USD 4 million, EUR 3.6 million) in the first quarter of this year, its first Q1 loss in seven years.

Quang said at an annual stakeholders meeting in June that sales would continue to fall through the second quarter, but that the situation in Q3 is expected to be brighter. Despite encountering numerous challenges, Quang said he still believed Minh Phu will achieve its 2023 sales and net profit targets.

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Photo by Toan Dao/SeafoodSource