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Vietnamese tra businesses urged to focus on Asian market PDF Print
Friday, 03 March 2017 14:41

VIETRADE - Domestic tra (pangasius) fish businesses should focus on Asian markets, especially China and countries from the Association of Southeast Asian Nations (ASEAN) in 2017, experts have suggested.

 

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), this year, tra fish exports to main markets such as the US and EU would continue facing challenges, including fierce competition from other countries in the EU market, anti-dumping duties and more stringent inspections of Vietnamese tra fish by US agencies.

 

Given these difficulties, experts said these above-mentioned Asian markets would offer new opportunities for local businesses. They said, local firms should also revise their business strategies with focus on providing hi-quality products.

 

Chairman of the Board and General Director of the Hung Vuong Corporation Duong Ngoc Minh told Vietnam Economic News that China’s Hong Kong would likely to become one of the leading importers of Vietnamese tra fish in 2017 with growth of 30%. However, Vietnamese enterprises needed to effectively supervise their products’ quality.

 

VASEP General Secretary Truong Dinh Hoe said that the most important thing at present is the availability of tra fish needed for export processing. He called on local processors and exporters to find solutions to ensure sufficient supply of tra fish to meet market demand.

 

Vietnam is home to 100 tra fish manufacturing and export facilities, with 20 of them accounting for 70-80% of local production, according to VASEP.

 

Last month’s output of tra fish fell by 4.8% year-on-year to 71,400 tonnes against the same period last year.

 

The Ministry of Agriculture and Rural Development’s statistics revealed that the tra fish sector earned US$1.67 billion from exports, a year-on-year increase of 6.6%.

 

Last year, Vietnamese tra fish was sold in 137 markets world-wide. The US remained the biggest import market, consuming of 23% of Vietnamese tra fish, followed by China (17%) and the EU (16%).

 

The sector aims to fetch more than US$1.7 billion from exports in 2017, 10 per cent higher than the figure seen in 2016, the Ministry has estimated.

 

This year, the domestic tra fish industry expects to have output of 1.1 million tonnes and will continue to improve quality of tra fish varieties and production standards while promoting co-operation among farming households to supply materials for tra fish export, according to the Ministry./.



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