Hoa Phat's agriculture segment profit in Q3 2024 increased by 80%

With a systematic and long-term strategy, Hoa Phat Group has invested 3.1 trillion VND in the agricultural sector (as of September 2024) and has achieved many positive results over nearly 10 years.

Currently, Hoa Phat Group has built a closed value chain from animal feed production to pig, cattle, and poultry farming. This is seen as a strategic move that helps Hoa Phat establish a leading position in Vietnam's agriculture sector, alongside its core business in steel production and trading.

The production of animal feed recorded a growth rate of 4%, placing Hoa Phat among the top 15 largest animal feed suppliers in Vietnam. The 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 both the internal farm system and various partners. This not only helps the group stabilize its supply but also enhances its competitiveness in the domestic animal feed market.

The number of pigs sold in the first nine months of 2024 reached 443,000, an increase of 34% compared to the same period last year. Hoa Phat currently owns nearly 25,000 sows, ranking among the top pig-farming enterprises in Vietnam. The closed farming network allows Hoa Phat to control output quality and maintain stability in the domestic pork supply chain.

In poultry farming, Hoa Phat's market supply of eggs reached 243 million eggs after the first nine months of the year, up 5% compared to the same period in 2023. The group maintains its position as the number one market leader in Northern Vietnam for egg production, with a capacity of up to 900,000 eggs per day.

Additionally, Hoa Phat successfully launched the one-day-old Sonia hens, with sales volume more than quadrupled compared to the same period last year.

The Australian cattle farming operations also recorded positive recovery, despite fierce competition in the market. Over the first nine months, the number of cattle sold increased by 10% compared to the same period last year, ensuring a stable supply and beef quality that meets international standards, effectively meeting domestic consumer demand.

Hoa Phat has invested in modern farm management technology following a biosecurity model, with an automated monitoring system and health tracking equipment for livestock. These efforts help the group optimize production costs, minimize risks, and quickly establish its leading position in the high-tech agriculture sector.