Worth mentioning, in April, industrial chicken prices decreased quite sharply. Accordingly, industrial chicken purchased in Vinh Long was at 30,000 VND/kg, down 8,000 VND/kg compared to March. In Dong Nai, the price of industrial chicken fell to 25,800 VND/kg.
Our chicken eggs still maintain the same stable price as in March, at 28,000 VND/dozen eggs, while industrial chicken eggs decreased by 8.6%, to 16,000 VND/dozen eggs.
Exchange with Reporter.VietNamNetMr. Nguyen Van Ngoc – Vice President of the Southeast Livestock Association admitted that industrial chicken farmers with white feathers and egg-laying chickens are having to sell products below production costs, suffering very heavy losses.
For example, white-feathered industrial chickens in Dong Nai are priced at 25,000 VND/kg. That is, for every 1kg of this type of chicken when sold, the farmer suffers a loss of 5,000 – 6,000 VND/kg.
According to Mr. Ngoc, the price of industrial chickens and poultry eggs “cannot rise” due to massive farming. Along with that, smuggled goods and imported goods flooded in in large quantities, leading to a situation of oversupply.
“Last year, pig prices were very low, poultry egg prices were high. Pig farmers switched to raising egg-laying chickens, leading to an increase in supply to the market, while consumer demand did not increase, so prices fell,” he pointed out.
As for chicken meat, smuggled goods and officially imported goods are large in quantity and cheap. Quadrant chicken thighs sell for just over 30,000 VND/kg, chicken wings, chicken feet, and waste chicken from Korea and Thailand flood in to compete with domestic chicken.
This time is entering the hot season, students are preparing for summer vacation… so consumption will decrease. Accordingly, poultry product prices will hardly increase in the near future, Mr. Ngoc said.
When talking about the situation of importing livestock products, Mr. Nguyen Xuan Duong – Chairman of the Vietnam Livestock Association – exclaimed: “In the past 2-3 years, the amount of goods imported into our country has increased tremendously.” Worth mentioning, the number of official imports is increasing, while smuggled goods are still coming in massively.
Mr. Duong emphasized that our country is importing a lot of waste livestock products from other countries for use as food. Typically, discarded laying hens (chickens at the end of their egg production cycle) that are not used for food in Thailand and Korea are exported to Vietnam for only 20,000 VND/chicken. Returning to the border, the price is about 40,000 VND/head and sold on the market for 50,000-60,000 VND/head.
Previously, livestock associations in our country also recommended that authorities prevent smuggling and strictly control imported goods to protect the domestic livestock industry as well as consumer health.
US Government Halts Intel and Qualcomm’s Chip Sales to Huawei
The US Takes Action to Limit China’s Technological Advancement
The United States has recently revoked licenses that permitted Intel and Qualcomm to trade chips with Huawei Technologies, as reported by the Financial Times. This decision will have an immediate impact on the chips used by Huawei for computers and mobile phones.
US Trade Restrictions on Huawei
Huawei has been on US trade restriction lists since 2019, but recent advancements, such as the introduction of an AI-enabled laptop, have raised concerns within the US government. A spokesperson from the Department of Commerce stated that export licenses are periodically revoked to safeguard national security and foreign policy interests in a rapidly evolving threat landscape.
Accusations of Cyber Espionage
National security experts have accused Huawei of aiding China in cyber espionage activities. The Chinese foreign ministry has condemned the US for allegedly using export controls to suppress Chinese companies without valid justification. Huawei has refuted these allegations.
The Wall Street Journal has also accused Huawei of involvement in cyber espionage, a claim that Huawei denies.
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US Government Halts Intel and Qualcomm’s Chip Sales to Huawei
GPSC CFO Titipong Chulaphonsiridee Announces Decrease in Net Profit for 1st Quarter of 2024 Due to Electricity Sales Margin
“Titipong Chulaphonsiridee” Chief Financial Officer of “GPSC” announced operating results for the 1st quarter of 2024, a net profit of 864 million baht, decreased compared to the 1st quarter of 2023 due to a decrease in the electricity sales margin.
Mr Thitipong Chulapornsiridee, Chief Financial Officer of Global Power Synergy Public Company Limited or GPSC, informed the Stock Exchange of Thailand that he would like to present the company’s financial statements. and subsidiaries for the 3 month period ending 31 March 2024, which has been reviewed by auditor PricewaterhouseCoopers ABAS Company Limited and approved by the Company’s Audit Committee
The company’s gross profit in the first quarter of 2024 was 5,060 million baht, an improvement of 206 million baht, while the company’s net profit was 864 million baht, representing a decrease in the company’s net profit of 254 million baht compared to r the first quarter of 2023, this was mainly because the margin of electricity sales from generation using diesel fuel instead of natural gas at Sriracha Power Plant had decreased from the previous year. This is in line with the EGAT electricity billing scheme, while the overall performance of the small power plants (SPP) increases from the margin of selling electricity to industrial customers increases due to the Ft factor That can better reflect the cost of energy prices from the end of year In addition, the volume of electricity sold to industrial customers increased.
Compared to the 4th quarter of 2023, the company’s gross profit improved by 828 million baht and the company’s net profit increased by 386 million baht, mainly because the operating results of the small power plant segment (SPP) increased due to the electric margin. sales to industrial customers increase. and the volume of electricity sold to EGAT and industrial customers increased. together with selling and administrative expenses and maintenance costs decreased seasonally from the previous quarter.
However, the company received a share of losses from investments in associates and joint ventures in the first quarter of 2024 worth 12 million baht, an increased loss of 125 million baht or 111 percent from the first quarter of 2023 and 235 million baht or 100 percent. 105 each from 4th quarter 2023.
This was mainly due to the share of losses from investments in XPCL and CFXD due to seasonal factors. and unrealized foreign exchange losses from the foreign loans of the CFXD project where the Taiwan dollar exchange rate depreciated compared to the previous quarter, respectively. Meanwhile, the share of profit from investment in AEPL increased due to increase in the number of projects opening for commercial operations. In addition, the amount of electricity sold increases according to the season.
As of March 31, 2024, the Company and its subsidiaries had total assets of 309,891 million baht, total liabilities of 189,397 million baht and shareholders’ equity of 120,493 million baht.
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