Tra fish by-products to become huge money earner: Experts

Stronger investment into processing by-products of tra fish will be a way for Vietnam to optimise their huge potential and values amid the expanding tra fish sector, according to experts.

Tra fish by-products to become huge money earner: Experts hinh anh 1

Tra fish processing for export (Photo: VNA)

Stronger investment into processing by-products of tra fish will be a way for Vietnam to optimise their huge potential and values amid the expanding tra fish sector, according to experts.

Statistics showed that each year, aquaculture provides 4.5-5 million tonnes of materials for aquatic processing. In the tra fish sector, 60-70% of the materials for tra fish fillet processing become by-products.

Tran Dinh Luan, Director of the Directorate of Fisheries, said by-products, including include head, bones, fin, skin and organs, are a source of materials that can promote the added value for the tra fish sector if they are optimised.

For example, raw tra fish skin is often sold at 3,000 VND (0.13 USD) per kilo. However, the price of collagen and gelatine made from it is 1,000 times higher, at about 3 million VND per kilo, said Doan Toi, General Director of Nam Viet Corporation (Navico).

Toi said that in early April, Navico and its partner from the Republic of Korea launched a 7-million-USD factory producing collagen and gelatine from fish skin, with a capacity of processing 780 tonnes of materials per year. In the second and third phase, the factory’s capacity is scheduled to reach 1,200 and 2,400 tonnes per year, he said.

This is the first factory that can produce collagen peptide in Vietnam. Navico expects 1.5 million USD of profit in the first phase. By now, the factory has received orders from 15 customers.

Like Navico, Vinh Hoan Corporation in the Mekong Delta province of Dong Thap has also engaged in collagen and gelatin production from fish skin, which has contributed 10% to the overall profit of the company.

Meanwhile, the Asia Fish Oil Corporation in Dong Thap province has successfully produce fish oil from tra fish fats with a capacity of processing 400 tonnes of materials.

At the same time, the firm has also processed other by-products from tra fish into organic fertilisers and animal feed.

Directorate of Fisheries head Luan advised businesses to invest more in technology, enhancing the economic efficiency in processing products with high added values, while making full use of the Government’s policies to encourage the development of processing sector, heading to a circular economy in the fisheries sector.

Huynh Minh Tuan, Vice Chairman of the People’s Committee of Dong Thap, said that the locality always encourages local firms to renovate their tra fish processing towards higher added value, aiming to make the most of the by-products and contributing to the growth of this billion-USD sector.

Data from the Vietnam Association of Seafood Exporters and Producers (VASEP) showed that in the first two months of this year, revenue from seafood export topped 1.1 billion USD, down 26% year on year, with tra fish exports dropping 38% to 240 million USD.

However, tra fish industry will have to overcome difficulties and become profitable again in the third quarter of this year as demand is likely to recover from the third quarter as festive events in year-end are coming and the Chinese market is opening./.

en.vietnamplus.vn

Related News

Vietnam has the potential to achieve economic growth goals in 2024

Vietnam has the potential to achieve economic growth goals in 2024

VCN - According to Prof. Dr. Hoang Van Cuong, National Assembly Deputy, Vice Rector of the National Economics University, and Member of the Budget and Finance Committee of the National Assembly, in the difficult global context, along with the existing internal strengths and the ability to harness external resources, Vietnam has opportunities to achieve the economic growth goals set for 2024.
Good news for Vietnam’s tra fish exports to US

Good news for Vietnam’s tra fish exports to US

Vietnam’s tra fish exports to the US is expecting a better outlook in the remaining months of this year after getting some good news.
Austria a promising market for Vietnamese fruits: Experts

Austria a promising market for Vietnamese fruits: Experts

Importing 1.2 billion EUR (1.31 billion USD) worth of fruits every year, Austria is a promising market for Vietnam, authorities held.
Post-pandemic business support policies should focus on efficiency: experts

Post-pandemic business support policies should focus on efficiency: experts

Future business support policies in the recovery period should focus on the right subjects and provide appropriate support contents to ensure their highest efficiency, according to experts.

Latest News

Indonesia licenses certificates of lobster cultivation for three Vietnamese companies

Indonesia licenses certificates of lobster cultivation for three Vietnamese companies

Three out of the five Vietnamese businesses, which have formed limited liability companies in Indonesia, have been verified and received certificates of lobster cultivation from the Directorate General of Aquaculture, according to Indonesia’s Ministry of Maritime Affairs and Fisheries.
Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese consumers spent 143.9 trillion (5.68 billion USD) buying 1.53 million items on five e-commerce platforms in the first half of this year, representing a rise of 54.91% and 65.55% over the same period last year, respectively, according market analysis firm Metric.
Four tens of billion USD export markets

Four tens of billion USD export markets

VCN - According to General Department of Vietnam Customs, by the end of June 2024, Vietnam has four markets achieve export turnover of US$ 10 billion.
Successful digital transformation solutions for wood industry enterprises

Successful digital transformation solutions for wood industry enterprises

VCN - Refraining from rushing, implementing steps gradually, and maintaining a clear vision are the recommendations that experts give to wood industry enterprises for successful digital transformation.

More News

Vietnamese lychee sold well at Costco stores in Australia

Vietnamese lychee sold well at Costco stores in Australia

Lychee, one of Vietnam’s major export fruits, has been sold well at Costco stores in Western Australia and South Australia, according to the Vietnam Trade Office in Australia.
Durian exports forecast to top 3 billion USD in 2024

Durian exports forecast to top 3 billion USD in 2024

Durian exports may surpass 3 billion USD this year, according to Dang Phuc Nguyen, General Secretary of the Vietnam Vegetable and Fruit Association (Vinafruit).
FTA - support to promote pangasius export

FTA - support to promote pangasius export

VCN - The implementation of FTAs ​​always creates favorable conditions for businesses to expand and diversify markets, bringing Vietnamese seafood, including pangasius, to participate deeperly into the global production and supply chain.
Vietnam - France trade reached nearly US$2.5 billion in the first half of the year

Vietnam - France trade reached nearly US$2.5 billion in the first half of the year

VCN - France is Vietnam's leading trade partner in Europe with bilateral turnover reaching billions of US$/year.
Technology increases competitiveness in the logistics race

Technology increases competitiveness in the logistics race

VCN - In the context that the logistics industry in Vietnam is forecast to continue to grow strongly, many businesses are actively applying technology and expanding service chains to take advantage of opportunities and keep pace with the general trend.
MoIT proposes key solutions to cope with rising sea freight prices

MoIT proposes key solutions to cope with rising sea freight prices

The Ministry of Industry and Trade (MoIT) has requested local associations and businesses to coordinate implementing key solutions to promote imports and exports as sea freight rates rise.
Vietnamese seaports to handle 1.2-1.4 billion tonnes of cargo by 2030

Vietnamese seaports to handle 1.2-1.4 billion tonnes of cargo by 2030

Vietnam's seaport cargo throughput is set to reach 1.2-1.4 billion tonnes by 2030, with container cargo expected to range from 46.3 to 54.34 million TEUs, according to a detailed plan for the development of seaport groups, wharfs, jetties, buoy berths, and water areas in 2021-2030, with a vision to 2050.
Binh Dinh seeks investment opportunities from Germany, France

Binh Dinh seeks investment opportunities from Germany, France

A delegation from the south central province of Binh Dinh led by Permanent Vice Secretary of the provincial Party Committee Le Kim Toan paid a working trip to Germany and France to explore investment opportunities from July 17-22, reported the provincial Department of Planning and Investment.
Warnings as HRC steel imports continue to increase rapidly

Warnings as HRC steel imports continue to increase rapidly

The amount of imported hot-rolled coil steel in the first six months of this year increased sharply to an alarming level, 1.7 times higher than domestic production.
Read More

Your care

Latest Most read
Indonesia licenses certificates of lobster cultivation for three Vietnamese companies

Indonesia licenses certificates of lobster cultivation for three Vietnamese companies

Three out of the five Vietnamese businesses, which have formed limited liability companies in Indonesia, have been verified and received certificates of lobster cultivation from the Directorate General of Aquaculture, according to Indonesia’s Ministry of Maritime Affairs and Fisheries.
Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese consumers spent 143.9 trillion (5.68 billion USD) buying 1.53 million items on five e-commerce platforms in the first half of this year, representing a rise of 54.91% and 65.55% over the same period last year, respectively, according market analysis firm Metric.
Four tens of billion USD export markets

Four tens of billion USD export markets

According to General Department of Vietnam Customs, by the end of June 2024, Vietnam has four markets achieve export turnover of US$ 10 billion.
Successful digital transformation solutions for wood industry enterprises

Successful digital transformation solutions for wood industry enterprises

VCN - Ms. Nguyen Thi Linh Vy, Production Management Director at Imity Company, also states that although they had planned digital transformation two years ago, the company has not yet dared to implement it.
Vietnamese lychee sold well at Costco stores in Australia

Vietnamese lychee sold well at Costco stores in Australia

Lychee, one of Vietnam’s major export fruits, has been sold well at Costco stores in Western Australia and South Australia, according to the Vietnam Trade Office in Australia.
Mobile Version