Last updated: Monday, April 24, 2017
Businesses Fated with Million-dollar FishPosted: Tuesday, March 14, 2017
Pangasius, an endemic species on the Mekong River, has long been recognised for the great value by the government. For decades, the downstream fish has made many Vietnamese companies well-known worldwide, including Vinh Hoan Corporation and IDI International Development and Investment Corporation - a member company of Sao Mai Group.
Asserting the calibre of a million-dollar fish
According to statistics from the General Department of Vietnam Customs, total pangasius export turnover valued US$1.62 billion up in 2016 (as of December 15, 2016), up 0.8 per cent year on year. Vietnam Association of Seafood Exporters and Producers (VASEP) said that pangasius exports will continue to increase sharply in 2017. These persuasive figures vividly illustrate potential and continuous efforts of Vietnamese catfish exporters in Vietnam such as Vinh Hoan Corporation and Cuu Long Seafood Import-Export Joint Stock Company.
IDI brand has been present in more than 150 countries. In addition to improving product quality, the company has continuously expanded its farming area to 150 ha to seize over 90 per cent of inputs for processing facilities. Its increasing orders and impressive growth rate made IDI a Top 5 pangasius exporter in Vietnam.
Lifting up brand position from value-added segment
Capturing opportunities and finding out new directions for catfish to escape from post-crisis trouble, some companies have taken bold steps to make a progress such as Tien Giang Godaco Seafood Joint Stock Company with frozen pangasius fillet and stick fillets.
IDI is not only a successful fish fillet trader but also is known to be a pioneer in applying scientific and technological advances to deep processing to increase the value and complete a closed pangasius production and processing chain for human beings with a premium cooking coil branded Ranee. The cooking oil features outstanding properties, nutrition and affordable prices. It has unlocked a promising market for cooking oil made from fish and proves that the potential value of pangasius has been tapped effectively. With this wise approach, IDI can easily earn a hefty profit every year from refining catfish fat.
The flavour of the Mekong River has been brought worldwide by IDI in particular and Sao Mai Group in general. Such flavour is imbued with alluvial sediment in the country's southernmost delta, soaked with the sweat of fishermen, and crystallised from the gray matter of Sao Mai Group. The new product asserted the level of a multi-business group capable of grasping opportunities in an integrating economy and tapping the natural endowment on the Mekong River. Gold mines in the ground will be exhausted but gold mines on the Mekong River will never run out. Indeed, anyone involved in this field is truly right and visionary.