Record catfish exports bring in US$1.081 billion to Vietnam in the first nine months of this year. According to the Ministry of Agriculture and Rural Development (MARD) in this period the tra and basa catfish export rose by 52 percent in value and 77 percent in quantity. At these rates, tra and basa catfish recorded the highest growth rate of any aquaculture product.
It is expected that the country will earn an average revenue of $150 million a month. The country’s catfish exports are expected to fetch $1.5 billion in 2008. It can be achieved as new markets such as Russia, the Middle East and some Asian countries have demonstrated a growing demand for catfish imported from Viet Nam.
Experts said that the demand for catfish from the European market usually increases every year starting at the end of September. The ministry informed that Russia is now the country’s biggest market, as it spent $155.6 million to import catfish from Viet Nam, 188 percent over the same period last year. Ukraine ranks second with an import spending of $104.7 million, an increase of 255 percent.
According to the ministry Egypt is also a growing market, as it spent $36.5 million to import Vietnamese catfish. Luong Le Phuong, MARD’s deputy minister told that to increase exports, local businesses need to agree upon a floor price to avoid unfair competition, while ensuring hygienic practices.
Le Minh Tam, deputy director of Trung Son Corporation, opined that his company was now investing to expand its aquaculture processing plant in Tac Cau Fishing Port Industrial Zone in the southern province of Kien Giang. He added that since the beginning of this year, Trung Son Corporation had exported more than 2,000 tonnes of aquaculture products, earning $20 million.
