- NGUYEN-X is targeting premium export markets with oysters grown in UNESCO site
- The company is leveraging its unique location story to differentiate its oysters
- It sees biggest task as building recognition in the oyster sector
NGUYEN-X started operations in 2020 and has largely supplied the domestic market. However, it is now setting its sights on overseas opportunities in markets such as Thailand, Singapore and Hong Kong.
While it currently supplies frozen and processed oyster products, it is also working to develop sashimi-grade offerings aimed at higher-value segments.
Speaking to AgNavigator, CEO Thuy Nguyen-Minh said the hurdle was not producing high-quality oysters, but convincing buyers that Vietnam could be a source of premium shellfish.
“We have an interesting challenge around country-of-origin positioning. When people think about Vietnam, they think about coffee, durian or shrimp. They assume Vietnamese oysters are an economical option. We often get asked why we are more expensive than Chinese suppliers, for instance.”
Grown in UNESCO site
To address that challenge, the company is leaning on the story behind its oysters, which are grown in Bai Tu Long Bay, a UNESCO-recognised area adjacent to Ha Long Bay in northern Vietnam.
“For sashimi-grade oysters, what customers buy is not only the oyster itself. It is the story behind it,” said Nguyen-Minh.
The location is more than a marketing story. The oysters benefit from growing in a unique environment where estuary waters mix with seawater in a semi-enclosed bay.
“The place where we grow our oysters is semi-enclosed. It is the intersection of estuary and coastal waters. That is why our oysters have a mixture of sweetness while still maintaining the brininess of the sea,” she said.
The sheltered environment also protects oysters from excessive tidal stress, helping to shape their texture.
“Because we raise them in semi-enclosed waters, it protects them from tidal stress, so the oysters have a soft, buttery texture,” she said.
The company also points to the bay’s biodiversity as a differentiating factor. Bai Tu Long Bay contains coral reefs, mangrove systems and a rich phytoplankton population that forms the basis of the oysters’ diet.
“According to the latest research, around 264 phytoplankton species have been recorded. Oysters are filter feeders, so a vast variety of phytoplankton creates favourable conditions for them to grow and accumulate glycogen,” she said.
Combined with northern Vietnam’s cooler winter temperatures, those conditions contribute to a flavour profile NGUYEN-X believes can stand alongside oysters from more established origins.
“The first note is briny, and then the sweetness follows. There is also a cucumber aroma,” she said.
A stepping stone
The company believes the time is ripe for expansion into new markets, as recent challenges in Japan’s oyster sector have prompted some buyers to seek alternative suppliers.
“Japanese oysters are highly regarded for their taste. But buyers are now looking for alternative supplies, and I think now is a good opportunity for us to be a second source for buyers.”
The company sees this as a stepping stone to its larger ambition of tapping the premium oyster market.
In light of climate-related disruptions, the company is working to shield itself as much as possible through strategies such as insurance coverage and expanded production around the Ha Long Bay region.
For now, the company sees its biggest task as building recognition for a product category that many international buyers do not yet associate with Vietnam.
Nguyen-Minh said: “As a small brand, it takes time to change something that has been deeply integrated into people’s minds.”
