Although accounting for 42% of global pangasius production, Vietnamese pangasius is no longer 'alone in the market' but faces fierce competition from India, China,...

According to the report of the Ministry of Agriculture and Rural Development, the output of pangasius in 2024 is estimated at 1.6 million tons, equivalent to the previous year. As of October 15, the export turnover of pangasius reached 1.56 billion USD, up 8.9% over the same period in 2023, but the growth rate is uneven due to fierce competition from other countries and white fish products.

According to the Department of Fisheries, Vietnamese pangasius accounts for 42% of global pangasius output, while India, China, and Bangladesh account for 15-21%. Indian pangasius output is increasing, but the fish are very small in size, mainly for domestic supply. Similarly, China has been raising pangasius for more than 7 years, maintaining an annual output of about 1.4 million tons, mainly for domestic use. However, this also means that they will reduce imports.

Pangasius export growth in markets is uneven, due to fierce competition from other countries and white fish products.

Indonesia, in particular, has low output but has exported to the Middle East market with its own brand and is building its reputation. In addition, pangasius is also competing with other white-meat fish such as tilapia (accounting for 20% of the global white-meat fish market share) and cod.

The Department of Fisheries recommends that pangasius businesses should improve quality, ice glazing ratio (the layer of ice on the surface of the product), and build brands to have suitable selling prices. The agency also noted that although Thailand is not listed on the world pangasius farming map, they export to the US. In 2022, the price of Thai pangasius was only half that of Vietnamese pangasius, but the following year, the price was recorded to be twice as high.

In addition to the competitive market, pangasius also faces many difficulties such as 70% of parent fish are not selected, the number of certified fish breeding facilities accounts for a small proportion, the survival rate of fish is low, the price of input materials has increased, causing high production costs.

According to the Vietnam Association of Seafood Exporters and Producers (VSEP), the market share of pangasius exports this year is changing compared to 2023. Specifically, China accounts for 29%, down 2%, while the US market has increased from 15% to 18%. In addition to the two main markets, small markets such as Brazil, Japan, Colombia, and Russia have quite impressive export growth.

According to VSEP's assessment, the Japanese market is difficult for freshwater catfish, but Vietnam is succeeding with sashimi products, a very potential product.

Source: Nong Nghiep Newspaper