Vietnam has taken steps to increase sales of pangasius in ITS domestic market to relieve pressure on the pangasius industry amid falling exports.
The Ministry of Agriculture and Rural Development said in a statement on 10 June that exports of pangasius from Vietnam have gone down this year due to impacts of the COVID-19 pandemic. The declines were seen in many major markets such as China (including Hong Kong), the United States, and European Union.
The COVID-19 pandemic has been a large blow to Vietnam’s pangasius sector. Even before the coronavirus outbreak, Vietnam’s pangasius traders had struggled with weak demand from major markets and lower material prices.
Slowing exports have resulted in rising stockpiles at processors and created financial stress for companies as well as caused disruptions in the production chain, the ministry said.
To support the industry, the ministry has organized a four-day event starting on 9 June in Hanoi to connect producers and buyers, with the goal of pushing domestic consumption of the fish in Hanoi and other locations in the northern region. Pangasius is produced in Mekong Delta in southern Vietnam. Most of the national output ultimately gets exported, with just a small amount consumed domestically, mainly in Vietnam's south.
“Opening up the domestic market will help achieve a dual goal: reducing export pressure, thus increasing the slowing export prices; and making access into the market of nearly 100 million people, making contribution to expanding production,” Agriculture Minister Nguyen Xuan Cuong said at the event.
As part of the event, on 10 June, a number of deals were inked to boost sales between major supermarkets and pangasius producers, including those between I.D.I Seafood and Big C, Nam Viet JSC (Navico) and Massan, Hung Ca Company Limited, and the Agriculture Association of Bac Ninh Province.
The trade union under the Agriculture Ministry has also collaborated with Vietnam Pangasius Association to encourage consumption of pangasius within the ministry itself.
Photo courtesy of Tochim/Shutterstock
