China spends US$21mn importing Việt Nam's pangasius fish maws
China spends US$21mn importing Việt Nam's pangasius fish maws
Value-added pangasius products, including dried fish maws and fish skin snacks, are increasingly popular among international consumers, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
Workers classify raw pangasius for processing and export. — VNA/VNS Photo |
As of the end of August 2024, exports of dried pangasius fish maws had reached US$58 million with China the largest buyer.
In the first eight months of this year, this country had imported $21 million worth of the product, accounting for 36 per cent of Việt Nam’s total export value for this product.
Currently, 12 Vietnamese companies are supplying to the Chinese market.
Over the past two years, China has increased its purchase of the snack to compensate for a supply shortage from Mexico, boosting revenues for many Vietnamese enterprises.
“Fish maw is not only a delicacy prized in China, but also a symbol of success, prosperity and wealth in the country,” said VASEP.
“Therefore, the product is often used as a gift at important events in China."
Prices for fish maws in China can range from US$450 to $1,000 per kilogramme.
VASEP added that Mexico used to be China’s top choice but due to certain endemic fish species facing extinction and tighter regulations in Mexico, China has gradually shifted its focus to Southeast Asia, significantly increasing purchases from Việt Nam.
In the seafood industry, pangasius fish maws were once considered a by-product with little value. They are now relatively expensive due to the intricate processing involved. To produce one kilogramme of dried fish maws, five to seven kilogrammes of fresh fish are required.
In addition to China, Việt Nam exports to Thailand, Malaysia, Singapore and the US.
The potential for Việt Nam’s dried fish maw export remains huge, but the shortage of input materials is a big challenge, according to VASEP.
