Opportunity for Vietnamese fishery products in 2019 (08-04-2019)

Tra fish products have penetrated into large and high-class seafood distribution systems around the world.
Opportunity for Vietnamese fishery products in 2019

Tra fish

In 2018 Vietnam tra fish achieved spectacular achievements, export turnover of US $ 2.3 billion. Both tra fish processing enterprises and farmers have got interests. This fruitful result came from the active market expansion of tra fish processing and exporting enterprises, especially the Chinese market in recent years; followed by fish farmers who have a good sense of control of product residues that need to be stopped according to the regulations of the import market. At the same time, the processing factory has increased product quality, increased consumer persuasion. Tra fish products have penetrated into large and high-class seafood distribution systems around the world. However, a very cautious point that needs to be considered is climate change. The earth tends to heat up, making the pollock stock in the Bering Strait shift to the north, making it harder to catch. Pollock – a white meat fish with the annual production of about 1.5 million tons is quite similar to Vietnamese tra fish. From 2007 to 2010, the production of pollock has declined sharply, which has pushed Vietnamese tra fish to the throne. The difficulty in catching the pollock causes the lack of average white meat in the market, contributing to the strong consumption of tra fish in 2018.

It is forecasted that the production of Pollock continues to decline in 2019. This is a great opportunity for Vietnamese tra fish. Certainly, tra fish consumption will grow and keep prices well, but it must be strictly controlled to spontaneously increase. In the context of climate change going worse, the moving of fish continues for a long time. It will help Vietnamese tra fish products increase again.

Shrimp

It is predicted that in 2019, world shrimp production will be increased thanks to favorable weather condition and the opening of shrimp farm areas in many key shrimp producers like India, Ecuador, Indonesia, etc. From that situation, shrimp price in 2019 tends to slightly decrease compare to 2018. It is accompanied by an opportunity to speed up as well as and challenge to overcome for Vietnamese shrimp industry.

The biggest challenge that Vietnamese shrimp is facing is the cost of products. Input prices for shrimp farming in Vietnam are always higher than other countries, especially for breeds and animal feed. The small scale farming leads to high managing cost for processing facilities. For example, for a fish pond with hundreds of tons, only one test can be applied to 5-7 export shipments. While a popular shrimp pond in the Mekong Delta produces less than 2 tons. Thus, the processing plant needs to check 15 shrimp ponds just enough for an export shipment. The cost of self-inspection of raw materials for a batch of exporting shrimp is 70 times higher than fish’s one.

The next challenge is food hygiene and safety. When consumers have more choices due to multiple sources, they will choose highly reliable products that are certified from specialized organizations. And from reliable products, they choose products with lower prices. In reality, a large part of Vietnamese shrimp does not meet international certification such as ASC, BAP, so it is difficult to access the most advanced systems, not to improve consumer prices. From this challenge, it leads to many things to do.

  1. Need to standardize shrimp and feed suppliers. These establishments must meet consumer market requirements, such as ISO, BAP, etc. as large consumer systems now require traceability of the entire chain, in which seed and feed are very important.

(2) It is necessary to recalculate the farming area, to concentrate farming so that management can be carried out according to the market standards required, mainly ASC and BAP. Currently, the capacity of Vietnamese processing facilities is high in the world standards, contributing to increasing the value of shrimp when consuming and sharing this benefit with farmers. For Vietnamese shrimp to break out, the standardization of farming and chain facilities must be quickly concerned and implemented as soon as possible.

Other favorable conditions come from the US - China trade war and Vietnam is about to sign a free trade agreement with the EU. All are the strong sides for Vietnamese shrimp to break out in 2019. The Vietnamese shrimp industry is set by US $ 10 billion target in 2025. It will come true with the timely support from the government, ministries, and industry.

Huong Tra

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