News

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

Frozen Catfish Fillet
Frozen Whole Catfish
Vietnam
Published Nov 23, 2022

Tridge summary

Exports of Vietnamese pangasius reached a value of more than 2 million dollars as of October 15, 2022, which means an increase of 81% compared to the same period last year. This increase in value is justified by rising prices, inflation and conflict between Russia and Ukraine, which, according to the Association of Vietnamese Fish Producers Vasep, have helped boost pangasius sales in most markets.

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
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.