Vietnam pangasius export hit US$1.8 billion in 2011

In 2011, pangasius export value of Vietnam remained at double digit growth while pangasius export volume kept at one digit growth, even fell in February and July 2011. Pangasius export volume in 2011 was estimated to reach over 600,000 MT, rising 3 percent compared to that of 2010.

In 2011, monthly average export price of Vietnam pangasius kept surging and peaked in June and August and fell slightly in February and July 2011. Deficient supply of raw material and surging production costs and high demand from consumers are attributable to an increase in average export price.

In 2011, exported pangasius was mainly frozen fish fillet with the export value of US$1.79 billion, holding 99 percent of the total pangasius export value of Vietnam.

Value-added products were only occupying 1 percent. Among more than 130 countries and territories importing pangasius from Vietnam, the U.S. was the leading importer of frozen fish fillet while the Netherlands was the largest consumer of processed fish products with the export value of US$5.4 million, making up 38.81 percent of the total export value of processed fish. Frozen pangasius fillet export to Egypt in 2011 tended to decline over that of the previous year but processed product export to the market rallied nearly 350 percent. 

The U.S. and EU were still the biggest consumers of Vietnam pangasius, making up 47 percent of total export value of Vietnam pangasius in 2011. Among two these markets, Vietnam pangasius export to the U.S. touched US$331.6 million, up 87.8 percent with increase in its market share from 11 percent to 18 percent. The pangasius export proportion to EU fell by 37 percent to 29.7 percent because export to Spain (the largest fish consumer in EU block) fell 9.4 percent.

In 2012, it is estimated that raw pangasius for processing will still be deficient because small farmers left the farming ponds uncultivated and farming areas of some key provinces were lost due to repercussion of flood in 2011.