Countries are rushing to expand catfish farming, raising the total global catfish output to over 3 million tons. Meanwhile, Vietnam’s exports to China are sliding.
The catfish industry, which can bring turnover of billions of dollars a year, is in danger.
As exports have been stagnant because of the pandemic, catfish companies are experiencing tough days, anticipating big losses in 2020, reported CafeF.
Catfish products saw the strongest decline among seafood exports in the first six months of the year. With weak demand, a gloomy year is anticipated for the industry.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is opening the door wide for Vietnamese tra fish to enter the markets of 10 other members of the deal.