Vietnam agriculture giant wagers on banana

Updated: 11:09, 17/04/2019

Hoang Anh Gia Lai Agrico has forecast that revenues from banana sales will be around VND10 billion ($430,900) a day this year.

Hoang Anh Gia Lai to expand banana farming for China export

Vietnamese agriculture giant enjoys a highly fruitful year

Fruit, vegetable sector targets US$ 4.2 billion in export turnover in 2019

Bac Giang fruits promoted everywhere

Over 15,000 tonnes of citrus fruits for Tet market

The company reported before the annual general meeting to be held at the end of this month that it expects bananas to contribute 73.3 percent of its revenues this year of VND4.78 trillion ($205.93 million).

Its profit target is VND103 billion ($4.44 million).

Agrico hopes banana sales will grow for the next three years.

The firm hopes banana sales will grow for the next three years as it seeks to reduce the losses suffered last year by cutting down on inefficient investments and moving from palm oil to fruits among other strategies.

Last year the company invested VND976 billion ($42 million) in 5,300 hectares of land in Cambodia to grow bananas for export to China in response to rapidly rising demand.

Chairman Doan Nguyen Duc said the company has been depending on rapidly ripening plants such as banana, chili and passion fruit to speed up the company’s cash flow cycle.

Other fruits expected to bring revenues this year include dragon fruit, which is expected to bring in VND575 billion ($24.78 million), jackfruit (VND108 billion, $4.65 million), pomelo (VND65 billion, $2.8 million), and mango (VND57 billion, $2.46 million).

HAGL used to be a leading property developer in Vietnam but restructured itself in 2010 to focus on agriculture, rubber and livestock farming.

Agrico reported revenues of VND3.69 trillion ($159 million) in 2018 and losses of VND659 billion ($28 million) compared to a profit of VND527 billion ($22.7 million) in 2017.

Major farm produce exports hit 4.2 billion USD

Tan Yen stamps on farm produce for origin traceability

(BGO) – Tan Yen district in Bac Giang province has paid due attention to supporting the local farmers in brand protection and stamp for agricultural produce’s origin traceability to promote the products’ prestige, hence helping them earn a good income and expand the consumption market.

Support trademark development for community farm produce

(BGO) – The People’s Committee in the northern province of Bac Giang has approved for the project to build and develop the provincial level community farm produce in the period of 2019 – 2021, the Department of Industry and Trade (DoIT) reported.

Over 100 billion VND invested in processing line of farm produce

(BGO) – The G.O.C Food Processing Export Joint Stock Company (G.O.C) in Tan Dinh commune, Lang Giang district (Bac Giang province) has invested over 100 billion VND (about 4.3 million USD) in installing new processing line of farm produce.

Local festival promotes oranges and farm produce in Ha Tinh

The People’s Committee of Ha Tinh province launched a festival of oranges and agricultural products on December 15 to honor local farm owners and enterprises in the cultivation and consumption of Ha Tinh agricultural products.

Source: VnExpress