Many countries invest in raising pangasius to serve domestic demand and reduce imports, along with internal difficulties, putting Vietnamese pangasius under no small amount of pressure.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in 1997, Vietnam's pangasius exports only reached 1.6 million USD, in 2023, pangasius exports reached 1.8 billion USD, and are estimated to reach more than 2 billion USD in 2024. Pangasius products were once considered a monopoly industry of our country, but no longer "one market", many countries have also started raising pangasius for domestic use and reducing imports from the world such as India, Indonesia, Bangladesh, China. These countries all have advantages in raw materials and production costs, creating no small pressure on the Vietnamese pangasius industry.
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| Vietnamese pangasius accounts for 42% of global pangasius production. |
China is the largest destination for Vietnamese pangasius, however, since 2023, Hainan Xiangtai Fishery, one of China's largest tilapia exporters, announced that it is actively participating in the pangasius supply chain to meet the increasing domestic market demand.
Building hatcheries, research centers, processing lines, increasing cooperation, promoting communication, developing services and diversifying product portfolios according to different consumption channels are the tasks that this company has been, is and will be doing to gain market share in the pangasius supply chain. China has been farming pangasius for more than 7 years, maintaining an annual output of about 1.4 million tons, mainly serving the domestic market. However, this also means that the country will reduce imports.
Vietnam's pangasius accounts for 42% of global pangasius production, while India, China, and Bangladesh account for 15-21%. Indian pangasius is increasing, but the size of the fish is very small, mainly supplying domestically. Indonesia, in particular, has low production but has exported to the Middle East market with its own brand and is building its reputation.
Along with external factors, according to VASEP, some long-standing problems of the Vietnamese pangasius industry include: Uneven quality of fingerlings, low survival rate of fingerlings, feed, farming environment, weather, diseases, etc.; facing many trade barriers such as import tax, technical regulations, etc.; unfair competition activities can affect the reputation of Vietnamese pangasius in the international market; the change in policies of markets while the cost of pangasius production is increasing due to the increase in input material prices and supplies, causing high production costs and increased labor costs, also affecting pangasius exports.
According to a report from VASEP, the export price of pangasius fillets is currently around 2,000 - 3,500 USD/ton. From the beginning of 2024 to now, pangasius export turnover has reached 1.56 billion USD, an increase of 8.9% over the same period in 2023. The target of the pangasius industry in 2025 is to strive for an expected output of 1.65 million tons, with an export turnover of around 2 billion USD.
It is undeniable that Vietnamese pangasius has a strong presence, competitiveness and opportunity to penetrate deeper into international markets, especially when Vietnam has advantages from new generation FTAs, trade agreements, gaps from supply shortages in markets and is recognized worldwide for its fish meat quality and clear origin.
However, if common difficulties are not resolved and export opportunities are not fully exploited, Vietnamese pangasius will remain at the back of the world's whitefish map. Enterprises need to seize the opportunity, boldly invest in further research into other products, besides frozen pangasius fillets, and optimize production processes and strictly control quality from the first stages of selection.
Source: https://congthuong.vn/bat-benh-suc-canh-tranh-cua-ca-tra-viet-361116.html
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