Canada becomes second largest consumer of Vietnamese tra fish within CPTPP
Canada has risen to become the second largest importer of Vietnamese tra fish (pangasius) within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
As of mid-April, the total export value of pangasius to the demanding market had surged by 69.4% to reach US$17.2 million against the same period from last year.
The VASEP said Canada represented a seafood market with stable growth in North America, adding that through the recent positive results, frozen pangasius exports to the market during the first half of this year are anticipated to achieve even stronger growth moving forward.
At present, Canada makes up a regular export market for more than 30 Vietnamese pangasius enterprises, of which three local enterprises, namely Vinh Hoan Joint Stock Company, NTFS Seafood Joint Stock Company, and Truong Giang Seafood Joint Stock Company, have posted the largest export value to the market in the first quarter of the year.
Over the past two years, Vietnamese pangasius exports to the North American country have slowed down due to the impact of the COVID-19 pandemic. However, tra fish exports to the fastidious market during the first quarter of the year rebounded strongly with the average export price of frozen pangasius fillets ranging between US$3.15 and US$3.35 per kilo.
Compared to other markets in the CPTPP, Canada typically imports a diverse range of aquatic products, including frozen pangasius fillets, frozen pangasius slices, dried pangasius bubbles, pangasius with lemon parsley sauce, and pangasius with ginger sauce.
Vietnamese pangasius have also had to compete with other white-meat fish products in the Canadian market, especially cod, haddock, and tilapia. However, recent years has seen Vietnamese pangasius products gradually making up a greater market share of white-meat fish products within the demanding market.
The VASEP predicts that pangasius exports to the US market will remain optimistic this year, noting that local businesses should take full advantage of the opportunity to bolster tra fish exports to Canada, an aquatic market that boasts high export value in the North American region.
