(VOVworld) Vietnam earned 1.8 billion USD by selling half of its 1.2 million ton production of tra fish abroad last year. Vietnam is shooting for a production volume of 1.5 million tons and export revenues of 2 billion dollars this year. Various measures have been outlined to realize this goal.

Processing tra fish fillet (Photo: Internet)

Vietnamese tra fish products are available in 135 countries and territories. The US and the EU are Vietnam’s biggest markets, accounting for 47% of last year’s total export revenues. The Vietnam Association of Seafood Exporters and Producers forecasts that despite a weak world economy, the industry will continue to grow. The reputation of Vietnamese tra fish has improved since the World Widelife Fund recognized tra fish as a sustainable aquaculture and began encouraging consumers around the globe to try it.

The Mekong Delta region has devised several strategies to reach the goal of 1.5 million tons and 2 billion dollars from tra fish. One strategy is to increase assurances in media and diplomatic channels that Vietnamese tra products meet safety and hygiene standards and are appropriately priced. The Association set base prices for exports to major markets, and helps members deal with obstacles like trade barriers and trade disputes. Nguyen Huu Dung, VASEP’s Vice President says 'We should focus on the links between phases of a production line, to synchronize breeding, feeding and processing tra fish'.

Market fluctuations, a 5% hike in food prices, the Government’s credit tightening policy and higher exchange rates cold all affect the realization of the 2-billion-USD goal. Vo Van Oc, a farmer in Thot Not District, Can Tho City says 'I would like to ask the Government to check which companies are of full competence for investment and provide more financial support for farmers to buy breeds. Households located in the production area should be given preferential loans so that they will not have to pay high interest rates'.

In addition to the difficulties already mentioned, the current biggest hurdle is scarce capital. Loan amounts depend on the value of  mortgaged assets, but bank loans can meet less than half of needed investment. According to VASEP, once capital can be secured at interest rates below 15%, the cost of Vietnamese tra products will be competitive and the 2-billion-USD goal for this year will be within reach.

Vinh Phong