Vietnam Association of Seafood Exporters and Producers (VASEP) said some Chinese enterprises are investing in tra fish (pangasius) farming.
The action was due to the US-China trade war creating strong losses in tilapia exports from China to the US. Chinese companies are now investing in pangasius production.
Meanwhile, China is one of large export markets of Vietnamese tra fish.
Therefore, Vietnam’s tra fish producers and exporters should have suitable production and business plans when China’s businesses have paid attention to tra fish production.
However, quality of tra fish meat produced by Chinese enterprises is not high compared to Vietnamese tra fish.
The VASEP representative also added that Vietnam is now the third biggest supplier of white-meat fish to the Chinese market, after Russia and Norway, reported cafef.vn.
The export of tra fish to this market in the first nine months this year accounted for 23.6% of Vietnam’s total tra fish export value and Vietnamese tra fish hold 5.7% of the seafood imports to China.
According to the association, Vietnam does not have national brands for tra fish and shrimp, but next year, the fisheries sector will focus on building these brands.
Vietnam is the third largest seafood exporter in the world after China and Norway and local seafood products have been exported to 160 markets.
To build a national brand for pangasius, an enterprise needs support from many sides, according to Truong Thi Le Khanh, chairwoman of Vinh Hoan Joint Stock Company, one of the leading pangasius exporters in Vietnam.
As the chairwoman of VASEP’s Freshwater Fish Committee, Khanh suggested Vietnam should have a market development fund for tra fish, in part for building and advertising the brand.
Khanh local enterprises must develop high-quality products and make sure exporting is efficient.
VASEP expected Vietnam to earn about US$3.8 billion from seafood exports this year, including US$2.2 billion from pangasius. This is the first time, pangasius export value exceeds US$2 billion.
Vietnam is the largest pangasius exporter and the second largest shrimp exporter in the world but it is ranked the third place in seafood after China with large volume in tilapia exports and Norway with large export volume of salmon products.