Vietnam's pangasius industry reaches out to the big sea
The history of the pangasius industry in Vietnam began in the early 1980s when the Vietnamese Government decided to develop the aquaculture industry.
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| The pangasius industry, which has experienced ups and downs, has now reached out to the big sea. |
This freshwater fish was unknown at the time and only sold in local markets. Nevertheless, its high adaptability and rapid growth rate make it a viable expansion target in the Mekong Delta region.
In 1987, Independent Seafood (Australia) received the first two tons of pangasius fillets, which were enthusiastically received by Australian consumers. Since then, the pangasius industry in Vietnam has undergone a phenomenal expansion. To bring Vietnamese pangasius to new markets, businesses began to prioritize investments in product quality, technological innovation, and collaboration with domestic and international partners.
Vietnam's pangasius industry has continuously developed and accomplished many remarkable feats up until the present day. Since exporting the first two tons of pangasius fillet, this industry has become one of the country's most important export industries, with annual exports reaching hundreds of millions of dollars.
This industry is notable for its emphasis on investment in product quality, technology acquisition, and innovation. Constant efforts have been made to improve the quality of pangasius, and businesses are constantly searching for and developing new products to meet the rising market demand.
Emphasis should be placed on the fact that the cooking oil is made entirely from fish. This is a groundbreaking achievement that challenges conventional definitions of fish products. By conducting groundbreaking research and successfully launching this product, Vietnam became the first nation in the world to develop a line of cooking oils derived from fish. This indicates that the product is not only pure and safe but also has additional health benefits that are not shared by other products in its category.
Fish oils will help consumers prioritize their health by encouraging them to consume sufficient amounts of Omega-3 in their daily diet. In addition, this product actively contributes to the development of the Vietnamese food industry, particularly in terms of the exploitation and optimal utilization of available natural resources.
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| Ranee fish cooking oil to be launched at Korea Fair in 2022. |
Developing export markets is one of the next important solutions for increasing the value of this Vietnamese fish's cooking oil. To accomplish this, businesses must intensify market research, cultivate relationships with international partners, and increase marketing efforts. Currently, cooking oil derived from Ranee fish is popular in several Asian countries, including China, Thailand, Singapore, Brunei, Korea, and Taiwan, because it is suited to Asian tastes.
As the leading exporter of pangasius in the region and a forerunner in the development of new-generation products, Vietnam requires more mechanisms to promote investment, research, and innovation, as well as more solutions to eliminate trade barriers and food safety and quality standards.
Moreover, businesses must find their international partners to collaborate on the research and development of new products, the exploitation of new markets, and the promotion of their products. This will help businesses expand their business networks while simultaneously increasing their international market competitiveness.
