Establishing auction markets to maximize fishermen’s profits
Establishing auction markets for fishermen is not only a solution to enhance the value of seafood products but also an opportunity to promote transparent and fair trade. With a public auction model, fishermen can set prices for their products, avoid being underpriced by traders, and connect directly with potential buyers.
At the 2024 year-end review and 2025 planning conference for the Ministry of Agriculture and Rural Development, chaired by Prime Minister Pham Minh Chinh on December 27, the Ministry’s leaders highlighted that 2024 was a year of mixed challenges and opportunities. These included market fluctuations and extreme weather patterns.
Under the close leadership of the Party Central Committee, the National Assembly, the Government, and especially the Prime Minister, the agriculture and fisheries sector achieved remarkable accomplishments despite numerous challenges.
According to Nguyen Hoai Nam, Deputy Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s seafood export turnover in 2024 surpassed USD 10 billion. Vietnamese seafood is now present in over 170 countries and territories, with shrimp generating USD 4 billion, pangasius USD 2 billion, and marine products such as tuna, squid, and octopus collectively reaching USD 4 billion.
However, the sector still faces significant hurdles. Over the past 5-6 years, export results have remained between USD 8-10 billion, with growth rates fluctuating between 2% and 6%. Except for 2022, when seafood exports reached USD 11 billion (a 23% increase), progress has been limited.
Vietnam’s Fisheries Development Strategy aims for USD 16 billion in seafood exports. To achieve this goal, VASEP proposed several initiatives to motivate fishermen. Key among them is creating incentives for aquaculture and marine exploitation, addressing raw material shortages, and promoting growth. While farmers and fishers form the backbone of the industry, many still struggle with challenges.
“We propose establishing auction markets to ensure fishermen can sell their products at optimal prices while allowing the government to trace product data,” Nam stated. He also suggested revising regulations on fishing zones (inshore, offshore) and the minimum catch sizes for certain species, particularly skipjack tuna, yellowfin tuna, and migratory fish.
Regarding krill, Nam urged the Ministry of Agriculture and Rural Development to negotiate with EU partners to enhance access, as this product is highly favored in these markets. Lastly, VASEP proposed that the government and the ministry develop a strategy to create large-scale corporations specializing in marine exploitation, fostering international collaboration and ensuring sustainable raw material supplies.
For fishermen, VASEP recommended reviewing legal frameworks to enable aquaculture farmers to use their assets as collateral for bank loans. Issuing “water-use rights certificates” similar to land-use certificates would allow fishers to access funding from banks or other financial institutions.
Addressing seed quality, VASEP called for stricter controls over substandard shrimp seed distribution. For pangasius, planning and preferential policies for breeders are essential. Provinces should prioritize aquaculture over urban development or tourism when allocating new or reclaimed water and land areas.
“We boldly propose that the government, Ministry of Finance, and State Bank continue to enhance export credit and financial packages for forestry and fisheries, as successfully implemented after the Prime Minister’s conference with VASEP on April 13, 2023. Expanding agricultural insurance to mitigate risks, as seen with the impact of Typhoon No. 3, is equally vital,” Nam emphasized.
Lastly, VASEP highlighted the importance of adopting advanced technologies, digital transformation, and binding regulations requiring stakeholders to control emissions, reduce environmental impact, and ensure sustainable industry development.
VFM
