Econ
ASEAN becomes third largest export market of Vietnam’s catfish
Exports of Vietnamese catfish to ASEAN markets have increased significantly this year, helping it surpass the European Union to become the third largest export market of the Vietnamese product.
The Vietnam Pangasius Association reported on April 12 that the catfish industry earned US$264.7 million from exports in the first two months of this year, a 15.7 percent year-on-year increase.
The shipment to almost top ten export markets of Vietnam’s catfish reported growth in the period, except the European Union and Brazil.
Mainland China and Hong Kong remained Vietnam’s largest export market in the first two months with export value of $55.8 million, up 41.8 percent, accounting for 21.1 percent of Vietnam’s total export revenue. The United State followed with $42 million, rising 15 percent.
Notably, the first two months saw the catfish exports to ASEAN market to skyrocket by 69.1 percent year-on-year to $29.8 million, making it become the third largest market of Vietnamese catfish.
In ASEAN markets, the shipment to Thailand, Singapore and the Philippines gained the highest growth rates of 107.2, 38.5 and 39.5 percent year-on-year, respectively.
During the period, the catfish export to the European market declined by 31.1 per cent to $22.3 percent. The decline was due to sharp drop in the UK, Germany and Belgium markets.
The association forecast that the export to the European market will continue to decline by some 30 percent in the second quarter of this year.
The Ministry of Agriculture and Rural Development has set a target of earning $2 billion from catfish export this year, said Acting Director General of Directorate of Fisheries Nguyen Ngoc Oai.
Accordingly, the catfish export is expected to account for 31.5 percent of the fishery industry’s export turnover in 2018. The catfish output is also planned at more than 1.3 million tons.
To meet the target this year, the domestic fishery industry will improve the quality of fish bleedings besides enlarging export markets for catfish products.
Meanwhile, farmers need to team up with catfish processing companies to ensure a balance between supply and demand.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong also required the fisheries sector to enhance investment to improve quality and packages to enable bringing more added value and raise the prestige of Vietnamese trademarks in the global market.
However, many exporters of catfish are expected to face many difficulties, including lack of raw materials and purchasing prices of material to peak at above VND30,000 per kilo. The higher price of raw materials would push the export value of pangasius up further in the future.
Ong Hang Van, Deputy Director of Truong Giang Seafood Joint Stock Co, attributed the severe shortage in catfish breeding to the huge loss of catfish in early February due to the unfavorable weather conditions.
Van said the catfish breeders are in lack of high quality catfish breeds, which affects negatively the quantity of fish during the growing process.
He added that his company is willing to collaborate with other company to choose catfish eggs from the catfish provided by the Research Institute for Aquaculture No 2.
Ngo Quang Truong, Director of Bien Dong Seafood Company said the low supply of catfish partly comes from the weather, predicting that the breeding will be regained in the next one month of the catfish reproductive season.
Duong Nghia Quoc, chairman of the Vietnam Pangasius Association, suggested that the government should encourage catfish exporters through enhancing the control of breeding quality besides supervising catfish breeders.
The shipment to almost top ten export markets of Vietnam’s catfish reported growth in the period, except the European Union and Brazil.
Vietnam’s catfish exports to ASEAN market soared 69.1 percent year-on-year
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Notably, the first two months saw the catfish exports to ASEAN market to skyrocket by 69.1 percent year-on-year to $29.8 million, making it become the third largest market of Vietnamese catfish.
In ASEAN markets, the shipment to Thailand, Singapore and the Philippines gained the highest growth rates of 107.2, 38.5 and 39.5 percent year-on-year, respectively.
During the period, the catfish export to the European market declined by 31.1 per cent to $22.3 percent. The decline was due to sharp drop in the UK, Germany and Belgium markets.
The association forecast that the export to the European market will continue to decline by some 30 percent in the second quarter of this year.
The Ministry of Agriculture and Rural Development has set a target of earning $2 billion from catfish export this year, said Acting Director General of Directorate of Fisheries Nguyen Ngoc Oai.
Accordingly, the catfish export is expected to account for 31.5 percent of the fishery industry’s export turnover in 2018. The catfish output is also planned at more than 1.3 million tons.
To meet the target this year, the domestic fishery industry will improve the quality of fish bleedings besides enlarging export markets for catfish products.
Meanwhile, farmers need to team up with catfish processing companies to ensure a balance between supply and demand.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong also required the fisheries sector to enhance investment to improve quality and packages to enable bringing more added value and raise the prestige of Vietnamese trademarks in the global market.
However, many exporters of catfish are expected to face many difficulties, including lack of raw materials and purchasing prices of material to peak at above VND30,000 per kilo. The higher price of raw materials would push the export value of pangasius up further in the future.
Ong Hang Van, Deputy Director of Truong Giang Seafood Joint Stock Co, attributed the severe shortage in catfish breeding to the huge loss of catfish in early February due to the unfavorable weather conditions.
Van said the catfish breeders are in lack of high quality catfish breeds, which affects negatively the quantity of fish during the growing process.
He added that his company is willing to collaborate with other company to choose catfish eggs from the catfish provided by the Research Institute for Aquaculture No 2.
Ngo Quang Truong, Director of Bien Dong Seafood Company said the low supply of catfish partly comes from the weather, predicting that the breeding will be regained in the next one month of the catfish reproductive season.
Duong Nghia Quoc, chairman of the Vietnam Pangasius Association, suggested that the government should encourage catfish exporters through enhancing the control of breeding quality besides supervising catfish breeders.
