Vietnamese pangasius fish faces fierce competition

Published 2024년 11월 18일

Tridge summary

The 2024 Pangasius Conference revealed that the Pangasius fish production in Vietnam is expected to remain steady at 1.6 million tons in 2024, as per the Ministry of Agriculture and Rural Development. The export turnover for the product has seen an 8.9% increase from the previous year, amounting to 1.56 billion USD, despite challenges such as competition and higher production costs due to increased prices of input materials. Vietnamese Pangasius holds a 42% share of the global market, with India, China, and Bangladesh also contributing significantly. The Department of Fisheries has suggested that Pangasius businesses should focus on improving quality and brand building to maintain competitiveness. The Vietnam Association of Seafood Exporters and Producers (VSEP) has reported shifts in the Pangasius export market, with increased market share in the US and decreased share in China. Other markets like Brazil, Japan, Colombia, and Russia are showing promising growth.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The information was released at the 2024 Pangasius Conference, held in Dong Thap on November 17. According to a report by the Ministry of Agriculture and Rural Development, the output of Pangasius in 2024 is estimated at 1.6 million tons, equivalent to the previous year. As of October 15, Pangasius export turnover reached 1.56 billion USD, up 8.9% over the same period in 2023, but the growth rate was uneven due to fierce competition from other countries and white fish products. According to the Department of Fisheries, Vietnamese Pangasius accounts for 42% of global Pangasius output, while India, China, and Bangladesh account for 15-21%. The Department analyzed that Indian Pangasius output is increasing, but the fish size is very small, mainly for domestic supply. Similarly, China has been farming pangasius for more than 7 years, maintaining an annual output of about 1.4 million tons, mainly for domestic consumption. However, this also means that they will reduce imports. ...
Source: VNExpress

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