January 29, 2019 | 21:54 (GMT+7)
Hoa Phat steps up Australian beef supply in Vietnam
Hoa Phat Corporation has announced that its Hoa Phat Trading Co., Ltd., under the Hoa Phat Agricultural Development JSC, will expand the scale of its farms, further study the meat supply chain and learn about high-quality cow breeds for experimental farming in Vietnam in 2019.
Accordingly, it strives to post a 12 percent growth in beef trading and increase the market share of beef imported from Australia to 45 percent.
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An Australian cow farm of Hoa Phat in Thai Binh province |
Last year, the Hoa Phat Trading Co., Ltd., earned a double revenue from 2017 and its imported Australian beef made up 42 percent of the market share nationwide, placing it as the top supplier of Australian beef after only three years of joining the market.
With many self-contained farms across the country, the company met nearly half of the domestic demand for beef cattle, surging its profit by 176 percent from 2017.
In 2018, it launched a partnership programme on feed for cattle with leading Australian experts to ensure that cows are cared for up to the best standards.
Source: VNA