Vietnamese Pangasius is a white-fleshed fish that is popular with consumers in many markets around the world . However, the diversified market has seen more and more competitors to Vietnamese Pangasius, including Chinese snakehead.
According to experts from the Vietnam Association of Seafood Exporters and Producers (VASEP), snakehead fish and pangasius have similarities in texture, flavor and culinary applications, making both fish species popular in Chinese cuisine.
Both fish have white, firm flesh, mild flavor and are rich in protein, and have their own competitive advantages, serving each consumer need.
Pangasius is a freshwater fish that thrives in water with gentle currents and low oxygen levels, making it suitable for intensive farming. Vietnam is the world’s largest pangasius farming and exporting country, with farmers mainly farming in large ponds, using industrial feed, and strictly controlling water quality.
Meanwhile, snakehead fish are widely distributed in rivers, lakes and rice fields in China. This fish is mainly raised in natural ponds or reservoirs, raised at moderate density. The fish eat natural food or supplement it with fresh fish or industrial food. The average raising time is from 8-12 months to reach a commercial weight of 1-1.5 kg/fish.
Vietnamese pangasius has another competitor on the Chinese dining table. Photo: VASEP.
Regarding nutritional value, according to VASEP experts, Vietnamese pangasius has a fat content of 6-10%, especially containing omega-3 unsaturated fatty acids. Pangasius has soft, white meat, suitable for frozen processing or making value-added products (fillets, fish pieces, fish cakes). Vietnam's main pangasius export product is frozen pangasius fillets.
Chinese snakehead fish has a high protein content (18-25%), less fat than pangasius. Snakehead fish meat is firm, fragrant, and is popular in traditional dishes such as grilled fish, braised fish with pickled cabbage, especially soups and hot pots, helping to increase consumer acceptance thanks to its affordable price and familiarity.
Regarding export potential, according to VASEP, Vietnamese pangasius is a key export product, accounting for a large market share in international markets such as the United States, the EU, China, and Southeast Asia. The average price of frozen pangasius fillets (the main product of pangasius exports) is from 2.5 to 3 USD/kg.
In China, farmed snakehead fish is more dominant than imported pangasius, mainly serving domestic consumption and some neighboring markets (East Asia, Southeast Asia). The average price of fresh whole snakehead fish is 4-5 USD/kg. China's snakehead fish farming output is expected to reach 800,000 tons by 2024, of which 40% is for processing facilities and the rest is for the live fish market.
Some Chinese enterprises are now applying tilapia processing methods to snakehead fish production, targeting the Asian market with value-added products.
VASEP experts said that Vietnamese pangasius has reasonable prices and stable supply, suitable for large markets. However, export value is easily affected by trade barriers and international market fluctuations.
Meanwhile, Chinese snakehead fish also has delicious meat and high nutritional value. However, snakehead fish has a high price, limited farming scale and competitiveness in the international market, suitable for domestic and regional tastes.
As of November 15, 2024, Vietnam is still the world's number 1 source of pangasius and China is still the largest destination for Vietnamese pangasius exports. According to Vietnam Customs, in the first half of November 2024, Vietnamese pangasius exports to China reached 27 million USD, up 36% over the same period last year. Cumulative pangasius exports to this market as of November 15, 2024 reached 506 million USD, down 1% over the same period in 2023.
Both Vietnamese pangasius and Chinese snakehead fish have their own advantages in terms of quality, nutritional value, price, consumption market, serving different needs. The scenario of China being self-sufficient in snakehead fish to gradually replace imported pangasius from Vietnam is completely conceivable, and this will be a concern when this billion-people market is the largest customer of Vietnam's pangasius export industry.
According to VASEP, the growth of domestic snakehead fish in China is taking place in parallel with the country's reduction in pangasius imports from Vietnam. In 2020, the amount of frozen pangasius fillets China imported from Vietnam decreased from more than 200,000 tons to 106,000 tons in 2023, and only reached 51,000 tons in the first 8 months of 2024. Since 2020, the volume of pangasius imports has continuously decreased, with 2023 and 2024 recording lower import levels than during the COVID-19 pandemic. Of course, besides the increase in domestic snakehead fish production, there are many other reasons for China to reduce pangasius imports such as the country's economic slowdown.
Competitors of Vietnamese pangasius are growing and getting stronger. For pangasius alone, many countries have now joined the race to raise and export pangasius.
"Vietnamese pangasius is no longer "alone in the market", so it is necessary to further enhance its competitiveness in the market by increasing quality, reducing costs, and absolutely ensuring food hygiene and safety regulations," VASEP recommended.
Source: https://danviet.vn/xuat-hien-mot-loai-ca-nuoi-o-trung-quoc-de-doa-la-doi-thu-canh-tranh-cua-ca-tranh-cua-ca-tra-viet-nam-20241212224235509.htm
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