Sturgeon fish farmers in Vietnam say they will soon replace Caspian Sea caviar with their own production. According to AFP, the cultivation of a sturgeon species known as 'Sterlet' has recently seen significant growth in Vietnam. The caviar obtained from this fish is of the golden type, which - as reported by AFP - can sell for 'up to $100,000 per kilogram.' In contrast, black caviar obtained from beluga sturgeon in the Caspian Sea is valued at 'between $5,000 and $10,000 per kilogram.' 'Lu Anh Dak,' a caviar trader from Vietnam, says he intends to bring 'Vietnamese-produced caviar' to the tables of people across the world, especially in Russia: 'If we can sell our caviar to Russia - where they are truly connoisseurs of caviar - then people will realize that our product is of high quality.' This 36-year-old entrepreneur, who is himself a graduate of Russia, has managed to sign a contract with a Russian importer to send 'between two to four tons of caviar to Russia in 2015.' However, some Vietnamese seafood producers say the fall in the value of the ruble, Russia's currency, is not good news for Vietnamese caviar exports. Caviar is a luxury food item whose production is currently facing a crisis. According to AFP, the volume of wild caviar production has sharply decreased in recent years, from about 3,000 tons in the 1970s to nearly zero today. Overfishing of beluga sturgeon in the Caspian Sea, along with pollution in the region, has put the population of Caspian Sea beluga sturgeon at risk of extinction. Currently, Italy, with several decades of sturgeon farming experience, stands as the leading producer of farmed caviar. Vietnam has entered this lucrative industry as a newcomer. 'Lu Anh Dak' currently owns 500,000 sturgeon in six fish farming ponds in Vietnam. All these fish are kept in rented reservoirs of hydraulic dams belonging to the communist government of Vietnam. Mr. Dak says that last year he managed to harvest about five tons of farmed caviar from his fish. He emphasizes that his ultimate goal is to reach a production level of 100 tons of farmed caviar per year. In Vietnam, Dak's produced caviar has recently adorned the colorful tables of five-star hotels and the banquets of diplomats and high-ranking officials. However, according to 'Sakal Fueng,' the chef of the 'Sofitel Saigon Plaza' hotel, the quality of Vietnamese farmed caviar is lower compared to the wild exports from Russia and Iran: 'Of course, this type of caviar has smaller grains compared to those found in Russia or Iran, but in terms of quality and taste, it is very close.'
Vietnam's Efforts to Capture the Caviar Market
Vietnam is making significant strides in the caviar market by cultivating sturgeon and aiming to compete with traditional producers like Russia and Iran. The Vietnamese caviar is marketed as a high-quality alternative, but challenges such as currency fluctuations and quality perceptions remain. This development could alter the global caviar market dynamics.
👥 Key Players
📰 What Happened
Vietnamese sturgeon farmers are aiming to replace Caspian Sea caviar with their own production, focusing on a sturgeon species called 'Sterlet'. The caviar produced is marketed as a high-quality alternative, although it faces challenges in terms of perception and currency fluctuations.
- Vietnamese caviar can sell for up to $100,000 per kilogram, significantly higher than Caspian Sea caviar.
- The production of wild caviar has drastically decreased due to overfishing and pollution.
💡 Why It Matters
📚 Background
Caviar is a luxury food item that has seen declining wild production due to environmental issues, prompting new entrants like Vietnam to explore aquaculture.
🏷️ Entities Mentioned
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