In the third quarter of 2024, Hoa Phat's agricultural revenue increased by 21% compared to the same period last year, but profits increased dramatically by 80%. Stable pork prices and increased sales volume played an important role in this growth.
In the third quarter of 2024, Hoa Phat's agricultural revenue increased by 21% compared to the same period last year, but profits increased dramatically by 80%. Stable pork prices and increased sales volume played an important role in this growth.
Nearly 10 years into the high-tech agricultural sector, Hoa Phat has invested 3,100 billion VND in this field (as of September 2024) and achieved many positive results.
With a methodical and long-term investment strategy, the Group has built a closed value chain from animal feed production, pig, cow and poultry farming. This is considered a strategic step to help Hoa Phat establish a leading position in Vietnam's agricultural industry, in addition to its core field of steel production and trading.
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| Hoa Phat pig farm. |
Animal feed production recorded a growth rate of 4%, Hoa Phat is in the top 15 largest animal feed suppliers in Vietnam. Hoa Phat's two animal feed factories in Hung Yen and Dong Nai with a capacity of 600,000 tons per year have met the feed needs of the internal farm system and partners. This not only helps the group stabilize the supply but also increases competitiveness in the domestic animal feed market.
Pig sales in the first 9 months of 2024 reached 443,000 pigs, up 34% over the same period last year. Hoa Phat currently owns nearly 25,000 sows, ranking among the top pig farming enterprises in Vietnam. The closed farm network helps Hoa Phat control output quality, maintaining stability in the domestic pork supply chain.
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| Hoa Phat is leading the Northern market in terms of egg production. |
In poultry farming, Hoa Phat's egg output reached 243 million eggs after the first 9 months of the year, up 5% over the same period in 2023. The Group maintained its No. 1 position in the Northern market in terms of egg output, with a capacity of up to 900,000 eggs per day. In addition, Hoa Phat also successfully launched the Sonia day-old hen product, with sales output more than 4 times higher than the same period last year.
Australian beef production has also recorded a positive recovery, despite fierce market competition. Over the past 9 months, beef sales increased by 10% compared to the same period last year, ensuring a stable supply and beef quality according to international standards, well meeting domestic consumption demand.
Hoa Phat has invested in modern farm management technology based on biosecurity models, automatic monitoring systems and livestock health monitoring equipment. These efforts help the Group optimize production costs, minimize risks and quickly affirm its leading position in the high-tech agricultural industry.
Source: https://baodautu.vn/loi-nhuan-mang-nong-nghiep-cua-hoa-phat-quy-iii2024-tang-80-d227949.html
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