Vietnam is expected to rake in 2.3 billion USD from tra fish exports this year, according to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD).

Illustrative image (Source: VNA) 

Despite market difficulties and low prices, the domestic tra fish sector was given a boost when the US Department of Agriculture officially recognised Vietnam’s Pangasius Food Safety Control System after more than three years of negotiations.

The recognition was important for the development of the pangasius industry, MARD official Phung Duc Tien said, adding that it proved Vietnam had a system in place that met US market requirements, which were among the strictest in the world.

In order to meet US regulations, the MARD said it had been working closely with stakeholders in Vietnam for three years to develop a system that met the US Farm Bill 2014.

“It will help local pangasius firms to access and expand their export markets, not only in the US but also in other regions,” said Nguyen Nhu Tiep, Director of Agro-Forestry-Fisheries Quality Assurance Department at MARD, adding that it would also encourage more enterprises to export pangasius to the US along with the existing 13 export markets.

According to the MARD’s statistics, Vietnam has yearly production of 1.3 million tonnes of pangasius, India 650,000 tonnes, Bangladesh 450,000 tonnes, Indonesia 110,000 tonnes and China 10,000 tonnes.

The US Department of Commerce lowered anti-dumping duties on frozen pangasius fillets from Vietnam in the 15th period of review (POR15).

Last year, Vietnam exported 550 million USD worth of pangasius to the US, the country’s second largest market.