Stronger investment into processing by-products of tra fish will be a way for Vietnam to optimise their huge potential and values amid the expanding tra fish sector, according to experts.
Thanks to better input material supply and the application of a closed production process, tra fish industry is expected to overcome difficulties and become profitable again in the third quarter of this year, according to analysts.
A Chinese trader has imported 500 containers of tra fish weighing 12,000 tonnes from Vietnam right after China’s lifting of its zero-COVID policy, showing a positive signal for the sector this year.
Despite experiencing a sharp decline in the last quarter of 2022 and the first month of 2023, tra fish (pangasius) exports still see bright outlook this year, according to insiders.
A surge of 87% was seen in tra fish exports to ASEAN markets in the first 11 months of this year to 183 million USD, accounting for about 8% of total export revenue of the product in the period.
More than 90% of Tra fish (Pangasius hypophthalmus) available in the US market comes from Vietnam, said Vietnamese Trade Counsellor in the US Do Ngoc Hung citing statistics from the US Department of Agriculture (USDA).
Tra fish exports have posted the strongest growth among fishery products so far this year, while the biggest revenue was recorded in shrimp shipments, according to the Vietnam Association of Seafood Exporters and Producers.
Vietnam’s tra fish (pangasius) export value is expected to hit a record high this year, reaching 2.4 billion USD, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
The first tra fish (pangasius) festival will take place in the Mekong Delta province of Dong Thap on December 16 and 17 and is expected to draw the participation of 50,000 partners in the sector as well as domestic and foreign visitors.
Tra fish exports have posted the strongest growth among fishery products so far this year while the biggest revenue was recorded in shrimp shipments, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
China is expected to stay the largest export market for Vietnamese pangasius this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam raked in 9.5 billion USD from exporting aquatic products in the first 10 months of 2022, up 34% year-on-year, the Vietnam Association of Seafood Exporters and Producers (VASEP) reported.
Vietnam's aquatic product exports reached 900 million USD in October, lifting the country’s total export turnover in the first ten months of 2022 to 9.39 billion USD, a sharp increase of 32.7% compared to the same period of 2021.
Tra fish exports to member countries of the Association of Southeast Asian Nations (ASEAN) have been rising sharply, and this market is forecast to surpass the European Union in terms of catfish imports from Vietnam in the near future, the Cong Thuong (Industry & Trade) newspaper reported.
The US Department of Commerce (DOC) has decided to maintain the anti-dumping duties applicable to pangasius imported from Vietnam which were set in the previous review, in the final conclusion of its 18th administrative review (POR18) for the period from August 1, 2020 to July 31, 2021.
The members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) constitute a potential market for the export of tra fish, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
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