Denmark’s DanBred, one of the world’s leading pig breeding companies, has launched a cooperation program with leading Vietnamese livestock firm Dabaco to boost domestic pig husbandry.
Under the deal, signed by the two firms on Monday, the Danish company will also support Dabaco in making its pig-raising business more productive and providing high-quality pork.
In addition to pig breeding, DanBred will also support Dabaco in managing and operating its farms, training personnel, and improving pig raising conditions, therefore helping to improve husbandry practices in Vietnam.
Dabaco made total revenues of more than VND12 trillion (some $511.5 million) and after-tax profit of VND150 billion (almost $6.4) in 2022, much lower than its targets of VND22.5 trillion in revenue and VND918 billion in after-tax profit.
Despite its failure to beat the targets for last year, the company expects total revenues of more than VND24.5 trillion (over $1.04 billion) this year and to double last year’s revenues.
Dabaco reported a loss of VND321 billion ($13.68 million) in Q1 this year due to a global recession and consequences caused by the Covid-19 pandemic. This is a record loss for the firm, while in the same period last year it made a profit of VND9 billion ($383,500).
DanBred is owned by the Danish Agriculture and Food Council, Danish Agro Company, and the former DanBred International A/S, now Holdingselskabet DBI A/S.
DanBred is the first breeding company in the world to use genomic information from 100% of great grandparent and grandparent animals when calculating its index. This makes the DanBred index the most modern in the world. High-growth pig producers around the world choose DanBred for optimal and predictable business results, based on a foundation of well-documented genetics and a comprehensive service solution offering.