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Tuesday, June 25, 2024

Cost efficiency matters

By Trung Chanh

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Despite a recent uptick in export volume, the pangasius industry is facing notable challenges. In order to strengthen the sector’s resilience, it is essential to address two key issues: the enforcement of stringent product quality control measures and the urgency of streamlining production costs. Quality dilution and price wars In an effort to regulate the quality of exported pangasius fillets, the Ministry of Agriculture and Rural Development introduced Circular No. 07/2017/TT-BNNPTNT on March 21, 2017. This circular established national technical standards for frozen pangasius fillets. It specifies that the glazing ratio for exported pangasius fillets must not exceed 20% of the total product weight, and the moisture content should not surpass 86% of the net weight. Despite these regulations aimed at safeguarding Vietnam’s pangasius export quality, a concerning trend has emerged. Chinese traders establish fictitious entities in Vietnam, forming joint ventures or wholly-owned companies, after which they rent manufacturing facilities, and even the harmonized commodity description and coding system (HS code) for exporting small quantities of pangasius products to China. Ong Hang Van, deputy general director of TG Fishery Holdings Corporation, shed light on this practice in an interview with the Saigon Times. He revealed that struggling or idle seafood […]
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