The "billion-dollar" fish returns to the yard

Published 2020년 5월 10일

Tridge summary

The article highlights the challenges faced by the pangasius farming and processing industry in Vietnam due to the COVID-19 pandemic's impact on exports, which have decreased by 29.3% in the first quarter of 2020. To mitigate these challenges, the Ministry of Agriculture and Rural Development has urged enterprises to focus on developing the domestic market, which could absorb 10%-20% of their output and reduce export pressure. Despite the domestic market having potential to consume more pangasius, businesses have so far failed to build a distribution channel due to a lack of initial investment and no specific state policies. The article also discusses the benefits of pangasius, such as its taste, nutrition, and low cost, which make it suitable for both export and domestic markets.

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

Original content

Pangasius which was called the "billion dollar fish" with export turnover up to 2 billion USD / year but consumption in the domestic market is still very modest The development of the domestic market with a population of 100 million people It is expected that this will support pangasius farming and processing industry in the current difficult time of export. Exports meet difficulties Due to the bad impact of the Covid-19 pandemic, pangasius exports in the first quarter reached only US $ 334 million, down to 29.3% compared to the same period in 2019. Difficult export not only caused businesses (DN) have difficulty that farmers also struggle when they have to sell raw fish below cost. During a visit to An Giang province on May 7, Minister of Agriculture and Rural Development Nguyen Xuan Cuong suggested that enterprises focusing on developing new export markets must focus on the domestic market. . According to the Ministry of Agriculture and Rural Development, if exploiting the ...

Source: nld