Co May Group signs a deal with the Saigon Food JSC to supply pangasius. Co May has been intensively promoting consumption of the fish in the domestic market. — VNS Photo

Co May Group has signed a memorandum of understanding with the Saigon Food Joint Stock Company to supply pangasius.

Nguyen Thi Kim Phung, commercial director of Co May Essential Co, Ltd, a subsidiary of Co May Group, said her company would supply 60 tonnes of fish a month to Saigon Food in the beginning.

Saigon Food will process the fish to supply the domestic market.

Pham Minh Thien, CEO of Co May Group, said Viet Nam exports pangasius products worth over US$2 billion a year to more than 150 countries and territories, including choosy markets like the US, EU and Japan.

“[But] we have … forgotten the domestic market.”

Due to a lack of information, Vietnamese consumers have not understood how the fish is farmed or its health benefits, and so consumption in the domestic market remains modest, he said.

“The domestic market will be the lifeline for the sector in case of oversupply in the world market.”

As a large exporter of pangasius products, Co May Group has been promoting them in the domestic market, initially in HCM City, and developed products that are appropriate for it, he said.

It in collaboration with the Business Association of High Quality Vietnamese Products organised the 2020 Pangasius Buffet event on Sunday at the Van Thanh Tourist Park in Binh Thanh District with 40 dishes made from pangasius.

Thien said with its low price, good taste, high protein content, and ability to meet stringent hygiene and food safety standards, pangasius is a good option for Vietnamese consumers amid the rising pork prices.

Last November, the United States Department of Agriculture officially acknowledged that Viet Nam's Pangasius Food Safety Control System met US market requirements. — VNS