Vietnam to face tough competition from India in tra fish exports

Illustrative image (Source: Internet)

According to figures released by the Department of Agricultural Product Processing and Market Development under the Ministry of Agriculture and Rural Development, the aquatic export value during the first ten months of the year was estimated at US$7.1 billion, down 2.4 per cent compared to the same period last year.

Of this figure, shrimp exports accounted for 38.9 per cent of the total turnover, while tra fish, also known as Pangasius, and tuna exports constituted 23.4 per cent and 8.7 per cent, respectively.

Japan, the United States, China, and the Republic of Korea remain the top four consumers of Vietnamese aquatic products, making up 57 per cent of the aquatic export value.

Meanwhile, China, the United States and Mexico all retained their position as the largest importers of Vietnamese tra fish.

Most notably, the Department of Agricultural Product Processing and Market Development cited forecasts from experts from the 2018 Global Outlook for Aquaculture Leadership Conference stating that India’s tra fish output is likely to rise 8 per cent to 630,000 tons by 2020. Therefore, Vietnam’s pangasius industry is projected to face stiff competition from India in the near future.

According to experts, tra fish farming has developed into an important part of India’s aquaculture industry in recent years. This can largely be attributed to Indian consumers gradually favouring tra fish products imported from Vietnam.