According to the Ministry of Agriculture and Rural Development (MARD), Vietnam’s catfish export turnover in October reached $183 million, raising total export revenue for January-October to $2.06 billion, up 76.5 percent year on year.

China, the US, Mexico and Brazil remain the four major markets for Vietnamese catfish, which account for 60 percent of export turnover (nearly $1.2 billion). 

Earnings from China and Hong Kong reached $589 million, up 111 percent while exports to the EU grew over 100 percent. Catfish exports to the US market slowed down in recent months, but still brought in $454 million. 

Exports to China, Brazil, the UK, Netherlands and Australia last September increased by 2-3 times compared with September 2021 while exports to Germany rose by 41 times and to Peru by 17 times. 

Among Southeast Asian markets, catfish exports to Laos increased by 2,214 percent, 474 percent for Cambodia, 255 percent for Myanmar and 174 percent for Indonesia.

High demand and big orders have helped Vietnamese catfish exporters make fat profits.

A large exporter - Vinh Hoan Seafood - reported profit of VND460 billion, an increase of 76.24 percent over Q3/2021. Its accumulated post-tax profit in January-September of 2022 reached VND 1.815 trillion, compared to VND 649 billion in the same period of 2021.

Vinh Hoan’s Chairwoman Truong Thi Le Khanh said that demand for catfish jumped after the US, Europe and China contained Covid-19 pandemic. This, plus the supply shortage, has helped the Vietnamese catfish industry to make a profit.

Another big exporter - Navico - reported the Q3 post-tax profit of VND 120 billion after it took a loss of VND 13.17 billion in Q3/2021. The company dubbed ‘Catfish King’ reported a post-tax profit of VND 567.2 billion in January-September/2022, compared to VND 74.4 billion in the same period last year.

According to the Vietnam Association of Seafood Exporters and Processors (VASEP), Bien Dong Seafood reported a 41 percent growth rate in H1, Van Duc Tien Giang 61 percent, Dai Thanh Tien Giang 118 percent and NTFS 87 percent.

The material prices in the Mekong Delta are stable, hovering around VND 30,500 – VND 31,000 per kilogram, which, according to Duong Nghia Quoc, Chairman of the Vietnam Pangasius Association, ensures slight profit for farmers.


Tam An