Vietnam's catfish exports have experienced a "hot growth" of 24.2 percent-88.7 percent in the past five years, official statistics showed on Tuesday.
In 2016, the country exported 304.7 million U.S. dollars worth of catfish to Chinese market, up 4.17 times over five years ago, reported local Vietnam Economic Times (VET) on Tuesday.
The fact that Vietnam's catfish export revenue to China in 2016 almost doubled that of 2015 signals an opportunity and a good compensation as local firms are countering obstacles in other markets like the United States and the European Union (EU).
The demand of catfish consumption in restaurants, hotels, schools, companies in China is hiking, said VET.
China is seen as a potential alternative market for Vietnamese catfish exporters in the coming years, said local analysts. At the same time, local firms also said Chinese market possesses a plenty of potentials and opportunities. Catfish prices in Chinese market stood higher than those in the EU sometimes.
Accordingly, the National Agro-Forestry-Fisheries Quality Assurance Department under Vietnam's Ministry of Agriculture and Rural Development will grant certificates for export batches.
"It is obvious that huge consumption in China's market is opening up more opportunities for Vietnamese catfish exporting companies and makes up a gap resulting from difficulties in other markets," said Truong Dinh Hoe, general secretary of Vietnam Association of Seafood Exporters and Producers.