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Posts Tagged ‘exporters’

Tra fish farmers earn big bucks with exporters

In Uncategorized on December 18, 2010 at 9:26 am

While most fish farmers in the Mekong Delta are anxious about World Wildlife Fund putting Vietnam’s tra fish on “Don’t buy” list, those in Dong Thap Province’s Hong Ngu District still enjoyed a booming yield thanks to the cooperative model.

(Photo: http://www.hungvuongpanga.com)

“I have just harvested 1,000 tons of small fishes weighted 750-850 gram per one and earned the highest-ever net profit of more than VND3 billion (US$150,000) from selling to the seafood exporter Bianfishco at the price of VND23,000 per kilogram,” said farmer Ho Thi Kim Tho of Hong Ngu District.


Tho said she made a big profit of more than VND8 billion from nearly 3,000 tons of tra fishes so far this year as local exporters bought at high prices.


“I earned more than VND5 billion from selling 2,000 tons of fishes to Bianfishco. This is the amount that I’ve dared not to dream of before,” Nam Phuc, another farmer in the district, said.


Farmers said the cooperation with local seafood exporters helped them made good profits this year. “Since we cooperated with seafood firms, we’ve not been worried about finding buyers, while they helped us to improve our breeding methods,” said a fish farmer in Hong Ngu District.


Bianfishco, also known as Binh An Seafood Co., said it bought fishes from farmers in the Mekong Delta’s provinces of Can Tho, An Giang and Vinh Long to export into the U.S. and Euro.


The cooperative model with farmers directly selling fishes to seafood enterprises was proving to be an adequate way to boost the seafood industry’s growth, said deputy minister of agriculture and rural development Luong Le Phuong.


The Ministry of Agriculture and Rural Development asked relevant units to shut down the seafood plants, which are not qualified for hygiene standards.


The Ministry also instructed the Vietnam Association of Seafood Exporters and Producers (VASEP) to adjust their seafood firms ranking, relying on quality instead of quantity.


Raising exported pangasius price
At a meeting in Ho Chi Minh City, Vietnam’s 20 leading seafood exporters came to an agreement to raise the exported price of tra fish white fillet to $3 per kilogram and red fillet to $2.05 per kilogram. The increase will not be applied to the U.S.’s buyers.


Raising exported prices will encourage local exporters to buy tra fishes at the price of VND21,000 per kilogram or more, which will ensure farmers can make good profits, according to VASEP.


Statistics from the State Bank of Vietnam show that the outstanding loans for agriculture sector reached more than VND358 trillion ($17.9 billion) in the first ten months of the year, of which loans for tra fish farmers rising by 10.5 times of 1998’s figure.

Source: SGGP

Growing local market attracts furniture exporters

In Uncategorized on December 16, 2010 at 9:33 am

Furniture makers found the way to foreign markets this year too rough with many obstacles including high interest rates and increasing material prices, so they switch to the local market, which has a growing demand.

An employee designs a chair at a wood factory in Ho Chi Minh City (Photo: loithanh.com.vn)

“Most of furniture exporters borrow money from banks as furniture business requires large sources of capital,” said general director Huynh Quang Thanh of the furniture maker Hiep Long.


Higher interest rates and increasing material prices have raised his firm’s input costs. As a result, he’s considering raising the prices, which weakened local exporters’ competitiveness on the global market, Thanh said.


Despite the central bank’s efforts to curb inflation and stabilize foreign exchange rate, interest rates continued to rise, putting more pressures on local businesses.


Commercial banks are now offering deposit interest rates of 12-13 percent, up from 11 percent earlier this month according to a number of lenders’ websites. Borrowers can now expect to pay 16-18 percent interest on loans.


Thanh added that local furniture makers were also anxious about prices of material for production, which kept rising so far this year. “Rubber wood price jumped sharply to VND5.4 million (US$270) per cubic meter from VND3.4 million per cubic meter as China is strongly buying Vietnam’s raw wood, which has low export taxes,” he said. 


“The Ho Chi Minh City Handicraft and Wood Industry Association asked relevant units to raise the raw wood taxes, but they haven’t replied,” said Ngo Hong Thu, deputy general director of the Truong Thanh Furniture Corporation.


Demand for Vietnam’s furniture in the Euro market is slumping this year because of the economic recession. Thu said Truong Thanh’s sales in Euro declined to 35 percent from 55 percent this year. Many local exporters expect the amount of orders from European customers will drop further in 2011.


Growing local market
“Vietnam’s furniture products hit store sheaves in 120 countries around the world with a turnover of $3 billion per annum. Sales of imported furniture products meanwhile make 80 percent of importers’ revenue,” said Vo Quang Ha, general director of the furniture maker Tan Vinh Cuu.


“Therefore, some furniture makers including us switch our sales to the local market. We earned more than 300 orders at the Vietbuild and Vifa furniture exhibitions at Ho Chi Minh City this year,” Ha said.


Furniture maker 4P director Nguyen Van Luat said his firm rebound to the local market as the furniture demand at offices was increasing sharply this year. “The competitiveness at foreign markets is pretty high now as exporters have to verify wood origins and submit many kinds of certificates,” Luat said.


Duong Quoc Nam, director of Hoang Nam Joint Stock Company, said the firm’s sales from the local market grew 20 percent annually since 2008.

Source: SGGP

Labor exporters ordered to help sailors from sinking boat in Antarctica

In Uncategorized on December 16, 2010 at 9:28 am

After 11 Vietnamese fishermen were reportedly dead or missing from an incident in a Korean fishing ship off Antarctica, the Department of Overseas Labor has ordered five companies that dispatch Vietnamese laborers to work in overseas, to assist and help the victims’ families.

The grandmother of sailor Nguyen Tuong wailed in mourning after receiving the bad news of her grandson (Photo: SGGP)

The 11 Vietnamese fishermen, who predominantly from the central province of Ha Tinh, were sent by five Vietnamese labor agencies: LOD Human Resource Development Corporation, Traenco Labor Export Center, Civil Engineering Construction Corporation No.1, Southern Waterborne Transport Stock Corporation and the Tourist, Trade and Labor Export Joint Stock Company (TTLC).


Under the order, labor export companies must dispatch men to South Korea to work with concerning sides to confirm the identities of the dead and the missing and assist rescued sailors.


Staffs on duty have to contact with the Consular Department, part of the Ministry of Foreign Affairs, the Consulate of Vietnam in the Republic of Korea and New Zealand.


Companies should tell sailors’ families about their condition as well as support families of the dead and the missing to help them overcome current difficulties.


For rescued sailors, companies must ask boat owner to take revivers to hospitals for treatment. Companies must finish all formalities to bring survivors back to the country safely.


For the dead individuals, companies were asked to hold funeral ceremonies and the Labor exporters must pay any wages, bonuses and other welfare entitlements to the relative’s families.

So far, five have been confirmed dead and 17 others still missing and presumed dead. This was after a South Korean deep-sea trawler with eight Koreans, eight Chinese, 11 Vietnamese, 11 Indonesians, three Filipinos and one Russian sank 1,850 km north of Antarctica — halfway between New Zealand and Antarctica.

Of the 42-strong crew on the 614-DWT trawler, a 24-year-old sailor, Nguyen Tuong, from district Ky Anh in the central province of Ha Tinh has been confirmed dead. His mother, Dang Thi Lan, 75, is still mourning for her son.

Meanwhile, Nguyen Van Son aged 28, from the district Ky Anh in Ha Tinh province, Nguyen Van Thanh aged 21 and Nguyen Van Son aged 25, both from Ky Anh district in Ha Tinh province, are missing and presumed dead. They were not wearing any protective clothing and the temperature there is extremely hostile – 2o Celsius.

Nguyen Minh Hoan, deputy head of district Ky Anh People’s Committee, said most of sailors in the boat have harsh living conditions. Their relatives had borrowed bank loans to pay for labor exporters. They hoped to make money after two or five years of labor. Their deaths left big debts for relatives.
 

Source: SGGP

Local banks assist exporters

In Uncategorized on October 14, 2010 at 6:27 pm

In response to the regulations of the Government and the State Bank of Vietnam on supporting companies, local banks have pledged to provide loans with preferential interest rates to exporters.

Transaction conducted at an Asia Commercial Bank branch in Ho Chi Minh City

Asia Commercial Bank (ACB) will give loans of up to US$150 million at softer rates to exporters to buy materials for making exported goods.
 
To access the loans, companies must have letter of credit (L/C), documents against payment (D/P) or bank payment guarantees.
 
Besides preferential loan interest rates, companies can also enjoy preferences on other services.
 
Companies that import essential goods and materials for production and business are also eligible for the program.
 
Vietnam International Commercial Bank (VIB) has also promised to provide low-interest loans of total VND1.5 trillion (US$79 million) to woodwork exporters.
 
When importing materials for making woodwork, exporters will enjoy flexible deposit rates for opening L/C, and many preferences on other services such as viewing balances, performing banking transactions and opening L/C online through the bank’s Internet Banking service. 

Source: SGGP

Craft exporters enjoy sales boost

In Uncategorized on July 28, 2010 at 7:19 pm




Craft exporters enjoy sales boost


QĐND – Wednesday, July 28, 2010, 21:22 (GMT+7)

Vietnam’s craft gift suppliers are gearing up for robust sales growth for the remainder of the year, after weathering a challenging export climate last year, according to Kearny Alliance, a US-based non-profit organisation that helps businesses in developing countries.


“As major export markets show signs of recovery, Vietnam craft gift suppliers are confident of seeing stronger demand,” said Vu Ngoc Khiem, programme manager of the Developing Country Export Assistance Programme.


“In fact, 90 percent of the suppliers interviewed in our survey expect export sales to increase by at least 10 percent over the next 12 months.”


Sixty percent of suppliers will target the EU market, the Kearny Alliance survey showed.


More than 70 percent of craft gift producers have maintained prices through lower margins to attract buyers worldwide.


They have combined a variety of locally available materials to differentiate their products from competitors’.


Nguyen Huy Thong, sales manager of Ngoc Dong Ha Nam Company, said: “We are focusing on pressed bamboo by using semi-automatic machines to reduce labour costs, and we have combined bamboo with woven rattan to offer competitive quotes with unique designs.”


Khiem said the survey showed that export prices ranged from less than 30US cents to above 20 USD, depending on type of material and design.


“Fifty-six percent of the featured suppliers are releasing new models in the coming months.”


The total capacity of featured suppliers is 820,000 pieces per month, of which exports account for more than 50 percent.


The survey is part of the Vietnam Sourcing Report: Craft Gifts, which is one of a series of emerging market sourcing reports published by Kearny Alliance.


The report covers profiles of 34 manufacturers, and contains descriptions, prices and packaging details for 105 best selling export products.


These include crafts, gifts and novelties made of wood, bamboo, ceramic, glass, metal, fabric, plastic and more.


Source: VNA/ Photo: Tuoitre


Source: QDND

Japan exporters boosted as dollar retains strength

In Uncategorized on April 5, 2010 at 11:38 am

HONG KONG, April 5, 2010 (AFP) – Japanese exporters made gains Monday on growing optimism over the global economic recovery as the dollar remained near seven-month highs following the highest US jobs growth in three years.


The greenback stayed near the 95-yen level — despite a slight easing in Tokyo trade — boosting Japanese firms’ prospects for repatriated earnings.


“A new round of buying will kick in if more investors begin to expect the dollar to top 100 yen,” said Kenichi Hirano of Japan’s Tachibana Securities.


The headline Nikkei index of the Tokyo Stock Exchange closed up 53.21 points or 0.47 percent to 11,339.30. The broader Topix index of all first section shares added 6.29 points or 0.64 percent to 995.68.


However, gains were capped by a 10.60 percent tumble in Japan’s largest clothing retailer Fast Retailing.


The stock plunged to 14,920 yen after the company said domestic same-store sales — the portion of sales from existing stores as opposed to new ones — at its Uniqlo chain dropped 16.4 percent year-on-year in March.


But analysts said the figures were less about seasonal trends and instead could reflect a move by consumers away from cheaper goods as the economy improves and amid competition from other retailers.


“Customers spend less during periods of deflation but now that the economy is recovering, customers will probably explore mid-priced items,” a fund manager at a Japanese asset management firm told Dow Jones Newswires.


Short-selling, in which shares are borrowed from a broker and sold before being typically bought back later at a lower price, was also a factor in the stock’s plunge Monday, analysts said.


Electronics giant Canon gained 2.50 percent to 4,510 yen while Toyota Motor was 1.05 percent higher at 3,815.


Sharp surged 3.30 percent to 1,249 after last week unveiling a 3D touchscreen that does not require the user to wear special glasses.


“Expectations for success in its 3D flat panel business are rising amid demand for 3D applications on smart phones and other gadgets,” an analyst at a Japanese brokerage said.


Dai-ichi Life Insurance, which saw a huge debut last week, fell 2.52 percent to 158,400.


The dollar eased to 94.55 yen in Tokyo afternoon trade from 94.61 yen late Friday in Paris.


US currency markets were closed for the Easter holiday. The euro rose to 1.3529 dollars from 1.3478 and to 127.65 yen from 127.52.


Dealers said short-term players were buying back the single European currency after it fell against the greenback following the employment report, which showed that the US economy added 162,000 jobs in March.


The job growth rate was just enough to offset continued lay-offs, population growth and people rejoining the labour market.


“US employment data last Friday showed better underlying momentum in private sector employment and highlighted the ongoing recovery of the US labour market,” Barclays Capital analyst Masafumi Yamamoto said.


At the same time the jobless rate remained steady at 9.7 percent. Since the recession began in December 2007, around eight million Americans have lost their jobs and 15 million remain unemployed.


Investors said dollar-selling will likely be short-lived and “doesn’t suggest a shift in the medium-term outlook, which still favours dollar gains” against other currencies, a Tokyo trader told Dow Jones Newswires.


A prominent US lawmaker scolded US President Barack Obama’s administration on Monday for delaying the release of a report that could declare China a currency manipulator and lead the way to trade sanctions.


“We have a real problem with the Chinese. They are very shrewd and customarily they outmanoeuvre us,” said Democratic senator Arlen Specter, one of many American lawmakers clamouring for China to revalue the yuan.


“They take our jobs. They take our money and then they lend it back to us and own a big part of America,” Specter told the “Fox News Sunday” television show, adding: “I’m not too happy about a delay.”


US Treasury Secretary Timothy Geithner on Saturday delayed a semi-annual report scheduled for April 15 that could have declared that China was manipulating the value of its yuan, paving the way for trade sanctions.


US lawmakers across the spectrum have accused Beijing of deliberately undervaluing its currency, leading to a flood of inexpensive goods and contributing to a trade deficit that soared to nearly 227 billion dollars in 2009.


Bangkok was down 0.55 percent Monday while Mumbai gained 0.90 percent. Jakarta finished 2.02 percent higher and Manila closed up 0.79 percent. Singapore’s Straits Times Index ended the day 0.86 percent higher.


South Korean shares closed flat, with continued foreign buying of blue chips but hefty profit-taking in smaller stocks.


The benchmark KOSPI ended up 1.50 points or 0.09 percent at 1,724.99.


“As long as the US market is bullish, you will see the blue chips rise,” said Paul Balaoing, an analyst at Philippine PCCI Securities Brokers.


Top-traded Jollibee Foods Corp. gained 0.85 percent to 59.50 pesos while Philippine Long Distance Telephone Co. rose 1.65 percent to 2,460 pesos.


Bank of the Philippine Islands gained 1.11 percent to 45.50 pesos.


In Malaysia, the Kuala Lumpur Composite Index (KLCI) rose 0.43 percent, or 5.81 points, to close at 1,341.75 led by gains in finance stocks.


Among major stocks, lender Hong Leong Bank added 2.30 percent to 8.90 ringgit, Public Bank was up 1.70 percent to 12.0, while gaming group Genting lost 1.20 percent to 6.54.


Oil raced towards 86 dollars a barrel in Asian trade Monday, extending gains on optimism about signs of a global economic upswing, analysts said.


New York’s light sweet crude for delivery in May was up 77 cents to 85.64 dollars a barrel. New York crude briefly traded above 85 dollars last week, its highest level since October 9, 2008.


Brent North Sea crude for May climbed 59 cents to 84.60 dollars a barrel.


Markets were closed for a public holiday in Australia, China, Hong Kong, and Taiwan.

d
Source: SGGP

Japan exporters boosted as dollar retains strength

In Uncategorized on April 5, 2010 at 11:33 am

HONG KONG, April 5, 2010 (AFP) – Japanese exporters made gains Monday on growing optimism over the global economic recovery as the dollar remained near seven-month highs following the highest US jobs growth in three years.


The greenback stayed near the 95-yen level — despite a slight easing in Tokyo trade — boosting Japanese firms’ prospects for repatriated earnings.


“A new round of buying will kick in if more investors begin to expect the dollar to top 100 yen,” said Kenichi Hirano of Japan’s Tachibana Securities.


The headline Nikkei index of the Tokyo Stock Exchange closed up 53.21 points or 0.47 percent to 11,339.30. The broader Topix index of all first section shares added 6.29 points or 0.64 percent to 995.68.


However, gains were capped by a 10.60 percent tumble in Japan’s largest clothing retailer Fast Retailing.


The stock plunged to 14,920 yen after the company said domestic same-store sales — the portion of sales from existing stores as opposed to new ones — at its Uniqlo chain dropped 16.4 percent year-on-year in March.


But analysts said the figures were less about seasonal trends and instead could reflect a move by consumers away from cheaper goods as the economy improves and amid competition from other retailers.


“Customers spend less during periods of deflation but now that the economy is recovering, customers will probably explore mid-priced items,” a fund manager at a Japanese asset management firm told Dow Jones Newswires.


Short-selling, in which shares are borrowed from a broker and sold before being typically bought back later at a lower price, was also a factor in the stock’s plunge Monday, analysts said.


Electronics giant Canon gained 2.50 percent to 4,510 yen while Toyota Motor was 1.05 percent higher at 3,815.


Sharp surged 3.30 percent to 1,249 after last week unveiling a 3D touchscreen that does not require the user to wear special glasses.


“Expectations for success in its 3D flat panel business are rising amid demand for 3D applications on smart phones and other gadgets,” an analyst at a Japanese brokerage said.


Dai-ichi Life Insurance, which saw a huge debut last week, fell 2.52 percent to 158,400.


The dollar eased to 94.55 yen in Tokyo afternoon trade from 94.61 yen late Friday in Paris.


US currency markets were closed for the Easter holiday. The euro rose to 1.3529 dollars from 1.3478 and to 127.65 yen from 127.52.


Dealers said short-term players were buying back the single European currency after it fell against the greenback following the employment report, which showed that the US economy added 162,000 jobs in March.


The job growth rate was just enough to offset continued lay-offs, population growth and people rejoining the labour market.


“US employment data last Friday showed better underlying momentum in private sector employment and highlighted the ongoing recovery of the US labour market,” Barclays Capital analyst Masafumi Yamamoto said.


At the same time the jobless rate remained steady at 9.7 percent. Since the recession began in December 2007, around eight million Americans have lost their jobs and 15 million remain unemployed.


Investors said dollar-selling will likely be short-lived and “doesn’t suggest a shift in the medium-term outlook, which still favours dollar gains” against other currencies, a Tokyo trader told Dow Jones Newswires.


A prominent US lawmaker scolded US President Barack Obama’s administration on Monday for delaying the release of a report that could declare China a currency manipulator and lead the way to trade sanctions.


“We have a real problem with the Chinese. They are very shrewd and customarily they outmanoeuvre us,” said Democratic senator Arlen Specter, one of many American lawmakers clamouring for China to revalue the yuan.


“They take our jobs. They take our money and then they lend it back to us and own a big part of America,” Specter told the “Fox News Sunday” television show, adding: “I’m not too happy about a delay.”


US Treasury Secretary Timothy Geithner on Saturday delayed a semi-annual report scheduled for April 15 that could have declared that China was manipulating the value of its yuan, paving the way for trade sanctions.


US lawmakers across the spectrum have accused Beijing of deliberately undervaluing its currency, leading to a flood of inexpensive goods and contributing to a trade deficit that soared to nearly 227 billion dollars in 2009.


Bangkok was down 0.55 percent Monday while Mumbai gained 0.90 percent. Jakarta finished 2.02 percent higher and Manila closed up 0.79 percent. Singapore’s Straits Times Index ended the day 0.86 percent higher.


South Korean shares closed flat, with continued foreign buying of blue chips but hefty profit-taking in smaller stocks.


The benchmark KOSPI ended up 1.50 points or 0.09 percent at 1,724.99.


“As long as the US market is bullish, you will see the blue chips rise,” said Paul Balaoing, an analyst at Philippine PCCI Securities Brokers.


Top-traded Jollibee Foods Corp. gained 0.85 percent to 59.50 pesos while Philippine Long Distance Telephone Co. rose 1.65 percent to 2,460 pesos.


Bank of the Philippine Islands gained 1.11 percent to 45.50 pesos.


In Malaysia, the Kuala Lumpur Composite Index (KLCI) rose 0.43 percent, or 5.81 points, to close at 1,341.75 led by gains in finance stocks.


Among major stocks, lender Hong Leong Bank added 2.30 percent to 8.90 ringgit, Public Bank was up 1.70 percent to 12.0, while gaming group Genting lost 1.20 percent to 6.54.


Oil raced towards 86 dollars a barrel in Asian trade Monday, extending gains on optimism about signs of a global economic upswing, analysts said.


New York’s light sweet crude for delivery in May was up 77 cents to 85.64 dollars a barrel. New York crude briefly traded above 85 dollars last week, its highest level since October 9, 2008.


Brent North Sea crude for May climbed 59 cents to 84.60 dollars a barrel.


Markets were closed for a public holiday in Australia, China, Hong Kong, and Taiwan.

d
Source: SGGP

US cuts tariffs for shrimp exporters

In Uncategorized on September 11, 2008 at 9:40 am

HA NOI — The US Department of Commerce (DOC) decided to exempt four Vietnamese frozen warm-water shrimp export and processing companies from anti-dumping tariffs after a lengthy second administrative review, according to the Viet Nam Association of Seafood Exporters and Processors (VASEP).


The four companies are Minh Phat Seafood Co Ltd, Ca Mau Frozen Seafood Processing Import Export Corporation (Camimex), Grobest &I-Mei Industry Viet Nam and Viet Hai Seafoods Company Ltd (Viet Nam Fish One Co Ltd).


The DOC said in a Federal Register Notice on Tuesday that the four companies did not sell merchandise at less than normal value during the period of review, February 1, 2006 through January 31, 2007.


Under the final decision, the department imposed a tax of 4.3 per cent for Minh Hai Joint Stock Seafoods Processing Company (Seaprodex Minh Hai), a tax of 4.57 per cent for 23 exporters, and a higher tax rate of 25.76 per cent for another 35 exporters.


The average rate is applied retrospectively to revenue for exports shipped to the US between February 1, 2006 and January 31, 2007.


The final decision conflicted with preliminary results announced in March, indicating 28 exporters and processors getting zero or minimal rate.


Truong Dinh Hoe, deputy general secretary of VASEP, said the association would require the DoC to re-consider the final decision on imposing the tax for the 24 shrimp export and processing firms with a high tax rate.


In the first administrative review on Vietnamese shrimp exporters in September 2007, the DoC decided to cut tariffs from 4.57 per cent to 0.01 per cent for Viet Hai and to 1.08 per cent for Grobest.


The country expected to earn $1.68 billion from shrimp exports this year, accounting for roughly 40 per cent of Viet Nam’s total seafood export earnings. —

Four shrimp exporters exempted from the US’s anti-dumping tax

In Uncategorized on September 10, 2008 at 4:09 pm

Hanoi (VNA) – Four Vietnamese businesses are now exempted from anti-dumping taxes on their shrimp exports to the US market.

According to a decision announced by the US Department of Commerce (DoC) on September 9, the businesses are the Minh Phat Seafood Co. Ltd., the Ca Mau Frozen Seafood Processing Import-Export Corp, the Grobest&I-mei Industry Vietnam and the Viet Hai Seafoods Co. Ltd.

This was the result of the DoC’s second administrative review of the anti-dumping taxes on Vietnam ’s frozen warm-water shrimp during the period between February 1, 2006 and January 31, 2007.

Under the decision, 23 Vietnamese shrimp exporters are subject to a 4.57 percent tax rate and one business enjoys the rate of 4.3 percent, while all the remaining one have to pay a 25.76 percent tax.

The fisheries industry sets a target of earning 850 million USD from exports of aquatic products to the US this year. Last year Vietnam ’s products made up 6.2 percent of the US ’s total seafood imports at 12 billion USD.-

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