Aquaculture production in Vietnam increased by almost 9% in a year

Published 2022년 11월 23일

Tridge summary

The article highlights the surge in pangasius exports, with China and the US accounting for 30% and 23% of the market respectively, marking a 24% increase in volume and a 91% surge in value compared to the previous year. This trend reflects a shift in preference towards farmed fish due to market restrictions, particularly from Russia. In response, the Vietnamese government is focusing on the development of high economic value aquaculture to enhance the commercial value of its products and ensure sustainable practices, despite rising production costs. Aquaculture production has shown significant growth, with a 4.43% increase in cost and an 8.9% rise in production compared to the same period last year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

China and the US continue to be the main consumers of pangasius, accounting for 30% and 23% of exports, respectively. According to USDA statistics, 104,500 tons of frozen pangasius fillets were imported in the first 9 months of 2022, worth $445.2 million, up 24% in volume and 91% in value compared to the same period last year. In addition, the price has risen from $2.77/kg to over $4.2/kg. There has been a shift in demand from white fish such as cod, hake and haddock to pangasius and tilapia, which have taken the lead. “This shows that farmed fish are gradually replacing marine fish as embargoes restrict the market for supplies from Russia,” VASEP said. This is another factor that the Vietnamese government takes into account to promote aquaculture. The Ministry of Agriculture and Rural Development has announced that it will support regional authorities to focus on the development of high economic value aquaculture to increase the commercial value of the products produced and ...

Source: Fishretail