Sao Ta Foods has demonstrated impressive growth in May, with sales soaring to USD 15.55 million, marking a significant 43% increase compared to the same period last year. However, despite this uptrend, May recorded the lowest sales figures for the company in the past three months. Accumulated sales since the beginning of the year have amounted to approximately USD 81.54 million. Looking ahead, Sao Ta Foods aims for sales of USD 210 million for the year 2024. Yet, with only 39% of the annual target achieved in the first five months, the company faces the challenge of accelerating its pace to meet year-end goals.

Production and Consumption Trends

In May, Sao Ta’s finished shrimp production slightly decreased by 13% compared to the same period last year, reaching 2,389 tons. Conversely, consumption of finished shrimp witnessed a notable surge, with a 53% increase over May 2023, totaling 1,419 tons. Agricultural product statistics also show promising growth, with production reaching 202 tons and consumption hitting 123 tons, marking increases of 65% and 7%, respectively, compared to the same period last year. Sao Ta attributes this growth to optimized farming practices and favorable market conditions.

Sao Ta Foods remains proactive in expanding its operations, with the completion of stocking in a new area underway. The company affirms the healthy growth of shrimp in its farms, indicating a positive outlook for future production. However, amidst optimistic expansion plans, Sao Ta is mindful of market challenges. At the 2024 Annual General Meeting of Shareholders, company leaders forecasted a potential 4% increase in global shrimp supply compared to 2023.