Not so long ago it was the toast of aquaculture, but today Vietnam’s tra (pangasius) industry finds itself in a quandary – not only is production in freefall, but the fish is also the subject of heightened consumer hostility.
Coming into 2011, Vietnam’s tra producers appeared to score a significant victory when the fish was removed from WWF’s so-called “red list” of seafood products to avoid. The NGO apologised for the apparent misplacement, but still managed to get Vietnam to commit to new safety standards, whereby 50% of Vietnamese tra exports will have to satisfy the new Aquaculture Stewardship Council’s criteria by 2015.
That wasn’t the end of the controversy. Recently, a UK prime-time television documentary, entitled ‘Fish Unwrapped’, found pangasius was increasingly being passed off as cod in takeaways.
While this certainly wasn’t the worst industry practice uncovered by Channel 4 News chief correspondent Alex Thomson, from a consumer standpoint there are some things you simply don’t mess with and Britain’s iconic fish and chips is certainly one of those things. Observers should expect prolonged outrage to ensue.
Meanwhile, the Vietnam Association of Seafood Exporters and Producers (Vasep) has predicted tra exports will plummet by as much as 40% this year, dragging the industry’s export turnover down to around $1 billion (€747 million).
Last year, the South East Asian country exported 645,000 tonnes of tra, worth $1.4 billion (€1 billion).
Market prices are expected to rise because of the reduced supply, which may deter some seafood buyers. But more importantly, the door is opened wider for other producers and perhaps other species to grow market share. (Many ex-pangasius farmers in Vietnam have switched to tilapia production.)
While it’s certain Vietnam’s tra producers will eventually rebuild exports, what the industry desperately needs right now is copious amounts of marketing and plenty of positive press.
