Boosting tra fish quality urged to match up to Chinese competition
Vietnam’s tra fish (pangasius) industry has been urged to strongly improve its quality so as to compete with not only traditional rivals, but also its biggest tra fish importer – China.
Farmers harvest tra fish in Thot Not district, the Mekong Delta city of Can Tho (Photo: VNA)HCM City (VNA) – Vietnam’s tra fish (pangasius) industry has been urged to strongly improve its quality so as to compete with not only traditional rivals, but also its biggest tra fish importer – China.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the domestic tra fish sector faces many rivals, including India, Indonesia, and Bangladesh – who each represents around 15-20 percent of global production.
The global production of farmed tra fish was estimated at 2.8 million tonnes in 2018, up 6 percent from the previous year, and about 45 percent of this total was sourced from Vietnam, mostly in the Mekong Delta.
As of March 2019, there were 20 tra fish processing factories in China whose production capacity had reached some 30,000 tonnes per year. This fact indicates that China is likely to become a big rival to Vietnam’s tra fish industry in the near future, VASEP said.
[Tra fish exports target 2.4 billion USD]
However, insiders said the competitiveness of Vietnamese tra fish should not be assessed through only quantity, but the quality of fish fry and products is the key.
To help address this issue, a high-tech tra fish farming project covering 600 ha will be carried out in the Mekong Delta province of An Giang in the fourth quarter of this year. When operational, it is expected to supply around 200,000 tonnes of high-quality raw materials each year for processing and subsequent export.
VASEP Secretary General Truong Dinh Hoe said once the quality of Vietnamese tra fish is improved and wins the trust of consumers in demanding markets, it will also have more opportunities to be sold well on the e-commerce platform of Alibaba of China, as well as on Amazon of the US.
“Through the e-commerce website (Alibaba), Vietnam’s tra fish products will have greater chances to enter this giant market,” he added.
In 2018, tra fish exports brought in a record of 2.26 billion USD, rising 26.4 percent year-on-year. Vietnam has set a target revenue at 2.4 billion USD for 2019.–VNA
You should also see
Prime Minister receives ASEAN Secretary-General
Prime Minister Pham Minh Chinh on April 23 hosted a reception for ASEAN Secretary-General Kao Kim Hourn who is paying a working trip to Vietnam and attending the ASEAN Future Forum (AFF) 2024 from April 21-24.
See more
Business
Lao Cai province calls for more Japanese investments
The advantages and potential of Vietnam’s northern border province of Lao Cai were introduced to Japanese firms at an investment and tourism promotion conference in Tokyo on April 23.
Business
Vietnam’s economy shows gradual recovery: WB’s report
Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.
Business
Tra fish export to UAE jumps 67% in Q1
Vietnam’s tra fish export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year, statistics of the General Department of Customs showed.
Business
Central bank successfully auctions 3,400 taels of SJC-branded gold bars
The State Bank of Vietnam (SBV) released the outcome of the gold bullion auction on April 23, with two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC-branded gold bars.
Business
Masan completes 250-million-USD investment deal with Bain Capital
Masan Group Corporation on April 23 announced that it has completed the mobilisation of 250 billion USD from Bain Capital, a leading global private investment firm with assets worth 180 billion USD under management.
