Image Credits: VOV
Vietnam’s pangasius fish maws have gained significant traction in the international market, particularly in China, which imported $21 million worth of the product in the first eight months of 2024. According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), this figure represents 36% of Vietnam’s total exports of dried pangasius fish maws, which have reached $58 million so far this year.
The rising popularity of value-added pangasius products, such as dried fish maws and fish skin snacks, is a response to growing demand from consumers. Currently, 12 Vietnamese companies supply these products to the Chinese market, where fish maw is not only regarded as a delicacy but also as a symbol of prosperity and success. VASEP notes that the product is often gifted during important events in China.
Prices for fish maws in China can range from $450 to $1,000 per kilogram, making them a lucrative export for Vietnamese producers. This surge in demand comes as China seeks to offset supply shortages from Mexico, its former primary supplier. Due to regulations surrounding the conservation of endemic fish species in Mexico, Chinese buyers have increasingly turned to Southeast Asia, resulting in a boost for Vietnamese enterprises.
Once viewed as a low-value by-product of the seafood industry, pangasius fish maws have transformed into a premium product due to the complex processing required. To produce one kilogram of dried fish maws, five to seven kilograms of fresh fish are necessary.
In addition to China, Vietnam exports dried fish maws to markets in Thailand, Malaysia, Singapore, and the United States. Despite the promising export potential, VASEP warns that the industry faces challenges, particularly a shortage of raw materials needed for production. As demand continues to rise, addressing these supply issues will be crucial for sustaining growth in Vietnam’s pangasius fish maw exports.