(seafood.vasep.com.vn) The average price of Vietnamese pangasius exports to the Chinese market decreased by 10% over the same period last year, from $2.42/kg in 2022 to $2.19/kg. The two main product lines exported to China are frozen pangasius fillets and cuts (HS code 0304) accounting for 68% of the value with more than 91 million USD, down 32% over the same period last year and fresh pangasius/ frozen/dried whole, cut into pieces (except fish under code 0304) accounted for 32% with nearly 42 million USD, up 7% over the same period in 2022.
As expected, the Chinese market is gradually "brighter", the demand for pangasius is increasing gradually as the Chinese economy reopens. After opening, although Vietnam's pangasius exports to this market have not improved significantly, there is also a more positive trend.
In the first 3 months of this year, China attracted nearly 100 Vietnamese enterprises to participate in exporting pangasius. In which, the leading company is Nam Viet Joint Stock Company, accounting for over 10% of sales, followed by Cat Tuong Company Limited, IDI Company, Dai Thanh Company Limited and Truong Giang Seafood Joint Stock Company.
While much of the world is facing inflation, China is facing the opposite problem of “Deflation”. If I had to describe China's current economic situation, it would be 'deflation has begun' and the economy could have entered a recession zone." Consumers and businesses may stop spending, as they expect prices to fall further. However, with the advantages of being a nutritious, reasonably priced, white-fleshed fish, pangasius will still be a suitable choice for Chinese consumers in the period of 2023 with many economic difficulties.
China is no longer an easy market as before, not all products are accepted by this market. On the other hand, the export products of "this second largest economy in the world" are very similar to those of Vietnam, which creates both advantages and challenges for Vietnamese goods. Therefore, enterprises need to correctly and timely identify and assess opportunities and challenges in the current Chinese market to be able to exploit and promote advantages in economic and trade cooperation.
Thu Hang