According to the report of February 2009 Vietnam has exported nearly 550 000 tonnes of tra and basa pangasius (commonly called pangasius) in the first ten months of 2008, for a value of USD 1.24 billion. Pangasius exports increased by 53 percent in value and 75 percent in quantity over the same period of 2007. In such a way pangasius recorded the highest growth rate of any aquaculture product exported by Viet Nam. Pangasius exports brings in an average revenue of USD 150 million every month and it is expected that in 2008 the total exports would be USD 1.5 billion.
It is fact as reasonable new markets such as Russia, the Middle East and some Asian countries have demonstrated a growing demand for pangasius imported from Viet Nam. Russia is by far the main importing country of pangasius from Viet Nam, representing alone some 20 percent of total exports. This country reported a 191 percent growth in imports of pangasius from Viet Nam in the first ten months of 2008.
Vietnamese pangasius is in great demand in the EU, Spain is the biggest market, growing by 8 percent. Demand for pangasius from the European market usually increases every year starting at the end of September. At present, Vietnamese traders have to sell at whatever price, so they are unable to wait for higher prices. In addition to upgrading infrastructure, aquaculture companies have invested in widening their material areas.
The Vietnamese government animates pangasius producers to agree upon a floor price to avoid unfair competition, while ensuring hygienic practices. Imports of pangasius are up 90 percent into Germany in the first six months of 2008 compared to 2007. The US catfish market is growing quite impressively. Vietnamese pangasius producers have to improve their quality and their business practices, in order to maintain their markets in Europe. Overall, 2009 will be an important year for the industry, moving from a booming industry into a more mature phase.
