I. LACK OF RAW MATERIAL FOR PANGASIUS PRODUCTS PROCESS
In the first Quarter of this year, Pangasius exports were severely affected by the COVD-19 pandemic, which had a negative impact on pangasius production in Viet Nam.
Currently Pangasius sold at an average price of from 18,000 VND /kg to 19,000 VND/kg, this is a stable price maintained throughout the 2 months and possibly in May – June 2020, while the cost per kg of commercial is from VND 21,000 to VND 22,000. So many Pangasius farmers losses. Even after havesting, farmers do not continue new crop due to lack of capital. Along with that, Viet Nam also face saltwater intrusion attacks which are detrimental to Pangasius. This year, drought comes soon, lasts and maintains a high level. Many rivers in Dong Thap, Ben Tre, Tra Vinh and Tien Giang provinces have salinity levels of 4 ‰ – 25 ‰, causing pangasius to stop eating, burst eyes … die a lot. The famer can not the new crops. Therefore, the pangasius price will increased in next few month due to lack of raw material and high demand due to the COVID – 19 .
Picture: Price fluctuation chart of Pangasius (Source:Undercurrent News)
II. NEW OPORTUNITIES FOR PANGASIUS AFTER COVID 19 ENDS
Many forecasts show that in the 3rd Quarter of 2020, Pangasius exports will grow again.
According to VASEP, one of the potential markets is India with the second largest population in the world. Currently, Vietnam Pangasius products are considered high-class products being imported to serve in restaurants in India. In addition to the EU market, the EVFTA Agreement officially ratified by the European Parliament opens up new opportunities for Pangasius exporters. At the end of 2019, the US Department of Agriculture (USDA) officially recognized Vietnam’s Pangasius management and supervision system equivalent to the US. This is good news for businesses exporting Pangasius to this market and more importantly affirming that the capacity of Pangasius quality control and food safety in Pangasius production and processing chain of Vietnam has met One of the most stringent requirements, it helps Vietnam Pangasius easier to access and expand export markets not only the US but also other markets.
Moreover, The Corona virus pandemic ends, the demand for food rising again, The China, EU and US market are importing, the kind of seafood was imported is Pangasius, shrimp and sea fish which is mainly Pangasius.
Vietnam is proud to have domesticated Pangasius and exported to 119 countries. In order for the fish industry to develop sustainably and to respond to current opportunities and challenges, the improvement of quality and image of Pangasius products, and building Vietnam Pangasius brand in the current period is very necessary.
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Made by: Viet Nam fishes team