However, many fish sauce production facilities are worried as consumption is sluggish while Tet is near.
Along the coastal roads such as Nguyen Thong and Huynh Thuc Khang, the traditional fish sauce production establishments in Phan Thiet City are actively preparing to meet customer demands for the upcoming 2024 Lunar New Year. Several months ago, the Ba Hai Fish Sauce Production Facility, located in Phu Hai Ward, Phan Thiet City, imported 600 tons of anchovies to produce fish sauce. Currently, the facility has commenced the process of bottling fish sauce in preparation for incoming orders. "We anticipate supplying approximately 40,000 liters of fish sauce to the market for the 2024 Lunar New Year. This year, with ample anchovy resources and excellent quality, our fish sauce production is abundant," shared Nguyen Huu Dung, the owner of Ba Hai Fish Sauce Production Facility.
The Ngoc Dinh Fish Sauce Production Facility, located in Mui Ne Ward, Phan Thiet City, has been fermenting tens of tons of anchovies since nine months ago and is now ready to cater to the market's needs for the year-end season. In anticipation of the heightened demand during the Tet holiday, numerous fish sauce production facilities are gearing up to increase their inventory by 20-25 percent compared to regular demand. Nevertheless, according to fish sauce establishments, while orders typically pour in and consumption skyrockets during this time of the year, the current market conditions are not meeting expectations.
Mr. Truong Quang Hien, Chairman of the Phan Thiet Fish Sauce Association, has revealed that Phan Thiet is home to over 100 traditional fish sauce processing establishments, with an average annual production of around 20 million liters. Overall, these establishments and traditional fish sauce craft villages are relatively small-scale, fragmented, and lack a coherent investment strategy for substantial production and business operations. Some establishments primarily engage in subcontracting for other enterprises or sell raw fish sauce, resulting in the underdeveloped stature of the Phan Thiet fish sauce brand.
"Traditional fish sauce enterprises and establishments in Phan Thiet are predominantly self-sufficient. Therefore, to ensure the stable development of the traditional fish sauce market, we hope for the involvement and support of regulatory bodies. This includes stimulating consumer demand, aiding in product promotion, and implementing supportive financial policies to foster the sustainable growth of the traditional fish sauce industry," shared Mr. Truong Quang Hien.
