Competitors rise, Vietnam’s pangasius global market share drops to 50%

Published 2024년 1월 4일

Tridge summary

Vietnam's pangasius supply share in the global market has declined due to increased competition, with production dropping from 99% of the global total in 2015 to 52% in 2023. The cost of farming in Vietnam is high, leading to a decrease in exports from US$2.4 billion in 2022 to US$1.8 billion, with farmers losing money on every kilogram of pangasius sold. Other countries, such as Indonesia, India, Bangladesh, and China, are expected to increase their pangasius production significantly, requiring Vietnam to make production regulatory changes and improve trade and market structure.

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

Original content

Vietnamese media Vietnamnet reported that due to the rise of competitors, Vietnam’s pangasius supply share in the global market is declining. Before 2015, Vietnam’s pangasius production accounted for 99% of the global total, but this figure dropped to 52% in 2023. According to data from the Ministry of Agriculture and Rural Development of Vietnam, the total pangasius farming area in 2023 is about 5,700 hectares, with a production of 1.6 million tons, but exports are expected to drop from US$2.4 billion (2022) to US$1.8 billion. The cost of farming in Vietnam is VND 28,000-28,500 /kg, the price in the Mekong Delta fell to VND 26,000/kg in November, which means that farmers will lose 2,000 VND for every kilogram of pangasius sold. Although the stock of ponds in Vietnam is not too high, due to the decline in orders from major export markets , processors are lowering the purchase price of fish ponds to attract overseas customers. According to customs statistics, as of ...

Source: Foodmate