Tra fish exports eye US$1.5 billion turnover this year

The COVID-19 pandemic has taken its toll on pangasius sales, prompting its exports to decline to approximately US$1.04 billion during the initial nine months of the year.

Faced with a decline in exports, local firms focused on improving product quality, applying new technology to farming methods, and developing new sales channels and brands specifically for Vietnamese Tra fish.

The Vietnam Pangasius Association reports although Vietnamese Pangasius has already been shipped to several markets worldwide, its exports over the past decade have been dependent on the Chinese market. In fact, China imports Vietnamese tra fish before selling it on to Russian and European markets.

Tran Anh Thu, vice chairman of the People's Committee of An Giang province, underscores the importance of building national brands specifically for Tra fish and restructuring farming and processing activities, alongside ensuing food safety and hygiene criteria in order to increase exports to potential markets and enhance competitiveness with other regional rivals such as India, China, and Bangladesh.

According to the Vietnam Pangasius Association, domestic pangasius farming is encountering numerous challenges caused by poor-quality breeds, climate change, and saline intrusion in provinces throughout the Mekong Delta and other coastal localities.

Furthermore, local businesses face hurdles when trying to overcome both technical barriers and new regulations imposed by Chinese authorities, along with grasping new provisions set out in the EU-Vietnam Free Trade Agreement (EVFTA).

Vo Hung Dung, vice chairman of the Vietnam Pangasius Association, stressed that tax incentives under the EVFTA are expected to create a wealth of opportunities for Vietnamese seafood processors, including Tra fish processors, as they strive to expand the export market. Indeed, domestic firms are attempting to gain a competitive edge against other regional rivals such as India and Thailand because they have not signed such an FTA with the EU.

To develop in a sustainable manner, the Vietnam Pangasius Association has advised Vietnamese businesses to improve product quality by applying technology and complying with criteria in pangasius farming and processing.

Dung underlines the need to promote both domestic and international consumption markets, set up new sales channels, and build brands for Vietnamese pangasius.

To boost Pangasius exports to demanding markets such as Europe, America, and the Middle East, An Giang province, for example, has established a specialised farming area of ​​600 hectares that utilises high technology as a pilot scheme and it has then replicated the model into three additional areas.

In these areas, the province has supported enterprises in dealing with wastewater treatment, and building area codes and geographical indications for pangasius products in order to meet the standards set by demanding markets.