Up 57% in Vietnam pangasius exports to Brazil

In QI/2016, Vietnam pangasius sales to the Brazil rocketed with the growth of 391-2,100% from QI/2015. Pangasius export value to this market in Apr 2016 continued the good growth of 57%. In QI/2015, pangasius exports to Brazil were stalled due to the temporary ban imposed by Brazil's Ministry of Fisheries and Aquaculture (MPA) on Vietnamese pangasius. Then, since Apr 2015, the MPA allowed to grant import license of seafood products from Vietnam after a pause. Therefore, Vietnam pangasius exports to the market posted the sharp increase in the first 3 months of 2016.

According to the ITC, in the first 4 months of 2016, China and Vietnam stayed as the two largest whitefish suppliers to Brazil. In which, China increased exports of frozen Alaska pollock fillets; frozen hake fillets; and frozen cod to the market to compete with Vietnamese pangasius. Especially, in Jan-Apr 2016, the import value of pangasius and catfish (HS code 030462) into Brazil posted a sharp rise, while imports of other whitefish products fell remarkably: frozen hake fillets down 21.7%; frozen cod down 15.7%; and frozen Alaska pollock fillets down 57.3% compared to same period last year.

Currently, the Brazilian economy continues to fall deeper into recession. In early 2016, the Brazilian currency has dropped by 70% of its value against the dollar. Earlier, in 2015, the currency fell by 33% and became the most depreciated currency out of 16 major world currencies. This affected significantly on its domestic consumption and the growth in business of enterprises. This also affected to Vietnam’s pangasius exports to the market.

Written by Ta Ha

Compiled by Dieu Thuy