Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Aquaculture feed business has been less profitable for the firm this year.

Avanti Feeds records drop in feed sales in Q2

Click on the flag for more information about India INDIA
Thursday, December 06, 2018, 23:50 (GMT + 9)

Avanti Feeds Ltd. experienced a decrease in feed sales turnover in the second quarter of fiscal year 2019 (April 1, 2018-March 31, 2019) compared to the same period a year ago, a result that the company attributes to the continued reduction in shrimp farming by about 15-20 per cent in the analysed period.

Part of the report prepared by Avanti Feeds Ltd.

From the company it was informed that in the secodn quarter its sales reached INR 5,529 million (USD 78.3 million) from INR 6,537 million (USD 92.6 million) in the previous fiscal year.

The firm’s feed business resulted in a profit of INR 485 million during the July-September period of fiscal year 2019 as compared to a profit of INR 1571 million (USD 22.2 million) in the corresponding period in fiscal year 2018. The decrease in profitability is on account of significant increase in prices of main raw materials, such as fishmeal, soya DOC and wheat flour and also other raw materials like vitamin premixes without increase in feed price.

       

       

Increases in raw material costs impacted the company's results as the price of the feed did not experience the same increases proportionally.

Avanti Feeds highlighted that shrimp exports to the US from India during the first half of the fiscal year 2019 recorded 10 per cent growth from the same period in the previous year.

The average realization per metric tonne from exports reduced by about 18 per cent during the first half of the year 2019 compared to the corresponding period in 2018. The farm gate prices of shrimp have also declined steeply by 20-25 per cent up to September and thereafter increased significantly.


 

A comparison of actual feed sales from April- September in 2016, 2017 and 2018 indicates a total shrimp feed sales in India is about 504,000 tonnes, 624,000 tonnes and 498,000 tonnes, respectively, which means the feed sales in the current six months has dropped by about 20 per cent compared to the corresponding period of the fiscal year 2018.

Avanti Feeds Ltd. is a subsidiary of Thai Union group ►

Avanti Feeds outlines that feed sales during the fiscal year 2019 is expected to remain at more or less same level as in fiscal year 2018 due to the reduction in shrimp farming. However, the company is expected to increase its market share from 43 per cent in fiscal year 2018 to 45 per cent - 47 per cent in fiscal year 2019.

Due to the developments that took place during the first three quarters of 2018, resulting in lower production of shrimp during fiscal year 2019, the resource processing and export is now projected at around 10,000 tonnes, representing a capacity utilisation of about 45 per cent.

“Our endeavour is to focus on value added products and achieve a minimum of 50 - 60 per cent export of these products and the balance on other regular products. As you know, the export prices and raw material prices are highly dynamic and volatile, the precise pricing of them cannot be estimated at this juncture. However, considering the past trends and composition of future exports, a PBT of 12 -15 per cent appears achievable,” pointed out the firm’s management representative C. Ramachandra Rao.
 


[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United States
May 21, 00:00 (GMT + 9):
The first quarter shows an increase in exports of Alaska pollock surimi from the US
Viet Nam
May 20, 23:40 (GMT + 9):
Ninh Thuận a boom town for quality shrimp fry production
Norway
May 20, 23:30 (GMT + 9):
Strong increase in the volume of exports of frozen salmon
European Union
May 20, 23:00 (GMT + 9):
Approved the new protocol of the fishing agreement between the EU and Cape Verde
Chile
May 20, 23:00 (GMT + 9):
Exports of coho (Pacific) salmon frozen to Japan grew 6% year-on-yea
Iceland
May 20, 22:50 (GMT + 9):
Biolorrusia is the main destination of the Capelin exported by Iceland during the first quarter of 2019
Viet Nam
May 20, 22:30 (GMT + 9):
Fisheries exports forecast to pick up after listless first quarter
Worldwide
May 20, 22:00 (GMT + 9):
Aquaculture Vaccines Market Value to Hit $290 Million by 2025
Netherlands
May 20, 21:00 (GMT + 9):
Food equipment demand drives Marel to seek Amsterdam listing
Argentina
May 18, 00:50 (GMT + 9):
Shrimp season will begin in mid-June
United States
May 18, 00:10 (GMT + 9):
Washington state and Norway agree to cooperate in maritime technology innovation
Japan
May 17, 23:50 (GMT + 9):
Mitsui to acquire 35pc stake in Vietnamese shrimp producer Minh Phu
Argentina
May 17, 23:50 (GMT + 9):
Inidep initiates hake stock evaluation in Argentine-Uruguayan Common Fishing Zone
Worldwide
May 17, 22:00 (GMT + 9):
Weekly movements of fishmeal and fish oil (Norway, China, Peru)
Chile
May 17, 21:40 (GMT + 9):
Senate approves end to automatic renewal of industrial fishing licenses



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Shrimp season will begin in mid-June
Argentina The entire shrimp fleet will be able to operate in argentinean waters, within the Permanent Hake Closure Zone, between June 14 and 15. That is the date that a priori authorities handle, as Pescare.com...
Malvinas (Falkland): National Government will not advance in the creation of a regional organization of fisheries management
Argentina The steps taken by Governor Rosana Bertone along with national legislators in defense of the Argentine sovereignty over Malvinas gave positive results, and forced Chancellor Jorge Faurie to admit befo...
European Justice confirms that the red crayfish is an invasive alien species
Belgium BRUSSELS (EUROPA PRESS) - The Court of Justice of the European Union (TEU) has endorsed Thursday the inclusion of red crayfish in the European list of invasive alien species, a decision that had been ...
A European project aims to develop a sustainable food from bons and fish skin
European Union A European project coordinated by the Higher Council for Scientific Research (CSIC) aims to develop a food of sustainable marine origin ready for consumption, from the use of discards from fishing, al...
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation
Marona S.A.
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2019 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER