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Thursday, April 25, 2024

Kido Group enters spice market

The Saigon Times

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HCMC – KIDO Group (HOSE: KDC) has entered the fish sauce and seasoning market with Tuong An brands from its affiliated company, TuongAn Vegetable Oil JSC.

It has launched four new products: Tuong An fish sauce at 40 and 32 degrees of salinity, and Tuong An Unicook seasonings in “spare rib & marrow” and “mushroom & veggie trio” flavors, which hit the store shelves today, December 25.

Tran Le Nguyen, vice chairman of KIDO Group, said that the spice sector is a crucial part of the company’s expansion into essential food production. KIDO aims to promote the Tuong An brand, utilizing its existing network of 450,000 retail points, traditional and modern retail channels, and e-commerce platforms.

According to Euromonitor International, Vietnam’s spice market was valued at VND35.7 trillion in 2022, with fish sauce dominating at VND15.2 trillion. The spice market is projected to reach VND40.8 trillion by 2026.

Today at the close, KDC held steady at VND63,000 for the second straight day, with around 750,000 shares traded.

The Hochiminh Stock Exchange saw a notable surge today, with 409 winners and 78 losers. The VN-Index gained 14.6 points, up by 1.32% over the previous session, to reach 1,117.66 points.

Stock trade improved by 18% in volume at 658.5 million shares and 23.6% in value at VND15.1 trillion. Block deals contributed 107.7 million shares and VND3.1 trillion to the overall value.

The VN30 basket, comprising the 30 largest-cap stocks, gained nearly 14.5 points to close at 1,111.86 points thanks to 29 bluechips advancing. GVR was the sole decliner with a slight 0.2% dip, trading at VND20,200

MSN closed up 5.4% at VND66,400. This uptick contributed nearly 1.25 points to the benchmark index.

HAG took the lead by liquidity with a trading volume of 22.4 million shares. It edged up 1.9% to close at VND13,750.

The HNX-Index of the Hanoi Stock Exchange increased by 1.18 points, or 0.52%, versus the previous session, at 229.45 points. The northern bourse saw 120 stocks gaining and 52 others dipping, and a trading volume of 53.6 million shares worth VND1.04 trillion.

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