The Vietnam Association of Seafood Exporters and Producers (VASEP) reports that the competition for market share in the pangasius export sector is intensifying. Key markets for Vietnamese pangasius include China, the US, the EU, and CPTPP countries. Despite this, these markets are heavily consuming cod and pollock due to their appealing taste and nutritional benefits.
“Cod is often considered the ‘king’ of fish due to its high brand value. Pollock is also highly nutritious and typically has a more stable price compared to other fish. Since 2021, China has increased its consumption of these fish. The US has also seen record-high consumption of cod in 2022.
Additionally, frozen tilapia fillets are quite popular in the US, ranking just behind cod fillets. These fish represent significant competition for Vietnamese pangasius,” a VASEP expert remarked.
To help Vietnamese pangasius expand into more markets, the expert suggested: “Vietnamese pangasius must enhance product quality, ensure food safety, comply with international standards, build a strong brand, target high-end markets, and develop value-added products.”
Phan The Quang from Can Tho City, who runs a seafood processing and export company, noted that Alaska pollock was once favored over pangasius due to its natural sourcing and comparable or even lower price.
Quang explained: “In 2007-2008, many countries reduced the harvest of Alaska pollock to preserve natural stocks, which caused a significant drop in supply. Consequently, pangasius prices surged as many American and European importers turned to it as a substitute for pollock.
With natural pollock stocks now recovered, some traditional markets for Vietnamese pangasius have returned to their original sources.”
Quang pointed out that Vietnamese pangasius has advantages such as low cost, high and stable production, and versatility in product processing to meet various market needs.
“However, the quality of pangasius products is inconsistent and faces trade barriers and unfair competition practices like dumping and fraud. Improving quality and targeting high-end markets is essential for Vietnamese pangasius to secure a long-term competitive edge,” Quang concluded.
Moreover, some other seafood exporters noted that Vietnamese pangasius faces stiff competition from other countries producing catfish, such as India, Bangladesh, and Indonesia.
Vietnam ranks second in exporting white fish to China
Data from the International Trade Centre (ITC) indicates that Vietnam is the second-largest supplier of white fish to China, following Russia.
In the first half of this year, China imported nearly 80,000 tons of white fish, mainly pangasius from Vietnam, representing a 17% decline compared to the same period in 2023. Meanwhile, imports from the US totaled 45,000 tons, marking a 57% increase.
The General Department of Customs reported that in the first half of July 2024, Vietnamese pangasius exports amounted to 85 million USD, a 22% increase from the same period in 2023. Total exports as of July 15, 2024, reached over 1 billion USD, up 6% compared to the previous year.
VFM
