Vietnam Pangasius Association (VPA) told Vietnam News that this year their focus is on enhancing and developing the country’s export markets. For decades, it runs Vietnam’s brood stock market, securing the quality of its products on and off the trade. As Vietnam sees a great opportunity and paves its way on the export industry, it now aims to introduce one of its top seafood products not just on their neighboring countries but also worldwide.
Today, Pangasius, a family of catfish that is native to Vietnam, unexpectedly resurfaced and hit the market. In the past years, it played an essential role in the international food market supplying first world countries like the U.S and mostly Europe. However, it did not reach its quota and was unable to expand its target due to unanticipated problems. It lacked strategies and enough resources to maintain sustainable growth. Today, Duong Nghia Quoc, VPA’s chairman said that they would focus on improving its production, creating consumer-base and maintainable growth.
With all the challenges Vietnam faces on its stock market, it never sets its eyes off on the target. Thus, it still wanted to reclaim the spotlight as the top seafood exporting country. Years ago, they have reached their highest revenue which is 2.1 billion dollars and at the same time, brooders were able to earn profits higher than 50 percent and most of them were able to extend their operations.
Though Vietnam aims to be the world’s top seafood supplier, they’re currently facing problems regarding lack of technological equipment to upgrade the quality of its seafood products, reduce production costs and for production to be more efficient. Farmers and brooders are generally using a labor-intensive machine in cultivating its yields.
Another problem is the lack of financial support for small, usually mini-brooders who have great potential in the trading industry. They are overpowered by prominent entrepreneurs who are more profit-based, which in turn, compromises the quality of the product. If these problems continue to arise, Vietnam will never earn its place again in the export trade. Even if broodstocks are in demand, but if support for these brooders are not enough, Vietnam will still be on the losing end.