Mekong delta’s pangasius export: Opportunities and challenges

News 08:57 09/12/2024
(seafood.vasep.com.vn) Ms. To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), forecasts that pangasius export turnover could reach the target of USD2 billion in 2024. However, the industry will still face numerous challenges in the coming year.

Bright prospects for pangasius exports 

According to Ms. Lan, opportunities for the pangasius industry include positive anti-dumping outcomes, reduced inventory levels in key markets, and a more balanced supply of raw fish compared to 2023. Additional prospects come from the U.S. economic recovery, potential market share increases in smaller markets, and a significant untapped global potential for pangasius products. 

Ms. Pham Thi Thu Hong, Secretary General of the Vietnam Pangasius Association, stated that over 100 pangasius processing companies are operating nationwide, primarily located in An Giang, Dong Thap, Can Tho, Hau Giang, and Vinh Long. Annual pangasius production exceeds 1.6 million tons. Equipped with modern machinery, these companies meet the stringent standards of demanding markets such as Europe and North America. 

Raw pangasius consumption remains relatively stable, with the selling price of commercial pangasius (0.7–0.8 kg per fish) ranging from VND26,400 to VND 27,600 per kilogram. At the same time, reduced production costs, due to lower feed prices, have allowed farmers to achieve profitable margins. 

In Dong Thap, 27 pangasius processing companies operate with a designed capacity of around 700,000 tons per year. A standout is the multinational IDI Company of Sao Mai Group. Several pangasius processors in Dong Thap province have weathered challenges, such as the COVID-19 pandemic and the global economic crisis, and continued to invest heavily in exports. These achievements highlight the resilience of the pangasius industry in the Mekong Delta. 

Mr. Truong Vinh Thanh, Deputy General Director of Sao Mai Group, noted that IDI currently operates two pangasius processing plants for export and plans to establish a third plant focused on exporting to the U.S. Additionally, IDI is involved in refining fish oil and producing edible oil derived from fish fat. 

Challenges 

Despite these favorable conditions, the pangasius industry faces significant challenges. Rising fuel and input material costs have increased production expenses, affecting farmers profitability. Many raw fish farmers struggle to secure bank loans due to the lack of collateral, as most lease their ponds. Furthermore, slow consumption has extended farming periods, increasing production costs and reducing the profitability of commercial and breeding fish farmers. 

In the first nine months of 2024, the pangasius industry faced various obstacles. However, thanks to the leadership of enterprises, the hard work and creativity of farmers, robust support from science and technology, and the collaboration of government authorities, the industry has returned to growth, maintaining its momentum. 

Ms. Pham Thi Thu Hong highlighted the limited focus on deep processing and by-product utilization among processing companies. This not only increases waste and environmental pollution but also drives up production costs. Furthermore, farming areas are fragmented, small-scale, and lack synchronized infrastructure, making environmental protection efforts more difficult. 

Ignoring environmental concerns in pursuit of profit could lead to severe water and environmental pollution. Thus, it is crucial for localities to develop synchronized farming zones with integrated environmental protection measures. Expanding sustainable pangasius farming models and utilizing recovered sludge could yield significant economic benefits. 

Most pangasius processing and exporting companies adhere to international quality management and food safety standards, such as HACCP, BRC, Global GAP, IFS, ASC, and BAP certifications, to meet the demands of various markets. Ensuring compliance with these standards is vital for exporting to over 150 countries. 

Ms. To Thi Tuong Lan outlined the 2025 goal of achieving a production output of approximately 1.65 million tons and an export turnover of USD2 billion. Key solutions include advancing breeding programs to improve the quality of pangasius adapted to climate change. The association also emphasizes researching alternatives to fishmeal and fish oil in feed production, such as plant-based ingredients, insects, microalgae, microbial protein, and seaweed. Additionally, continuous improvement in breeding, raw fish production, and processing is essential to enhance product quality and meet international standards.

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