The Vietnamese pangasius market has been at the bottom for two years

Published Aug 28, 2023

Tridge summary

The pangasius industry in Vietnam has faced numerous challenges over the past two years, including the COVID-19 pandemic, logistics difficulties, the Russo-Ukraine war, and global economic inflation. This has resulted in the industry reaching its lowest point in history, with even some factories going bankrupt. Despite these challenges, Navico, a leading pangasius exporter, sees opportunities in the Chinese market and is aiming to expand its distribution to major cities like Beijing and Guangzhou. However, statistics from the Vietnam Association of Seafood Producers and Exporters show that the pangasius export market is still facing decline, with lower prices and decreased value.

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

Original content

Since 2020, Vietnam's pangasius industry has experienced the global new crown epidemic, logistics difficulties, the Ukrainian war, and global economic inflation. The development of the industry has almost fallen to the lowest point in history. high hopes. the During the Vietnam Seafood Expo (Vietfish 2023), Thien Doan, assistant president of pangasius exporter Nam Viet Joint Stock Company (Navico), told UCN: “In the past 24 months, the Vietnamese pangasius industry has been going through various turmoil. After the new crown epidemic, recall that the processing plant had to be closed at that time, and if we wanted to maintain production, we had to pay for staff accommodation and food; then, our logistics problems followed, and the supply chain was interrupted for a while; then, another outbreak With the Russo-Ukraine war, we have a new logistical problem." the "I think our supply chain has bottomed out, with losses lasting up to six months, and farmers may be losing money for ...

Source: Foodmate