(vasep.com.vn) Portuguese people love to eat finfish products in all varieties. Thus, the country imported a large amount of finfish while others in EU imported mainly shrimp and mollusk.
Portugal is one of the largest seafood importers, only after Japan and Iceland with an annual average consumption level of 57 kilogram per capita. Portuguese people spend 17 percent of total expense for food buying seafood. Imported seafood accounts for two thirds of the country’s total seafood consumption because domestic seafood production is not enough to meet local people’s demand.
Frozen finfish was the most popular item imported into the country for many past years. In 2012, Portugal’s importation of frozen finfish touched US$440.57 million, followed by dried seafood with a value of US$407.65 million, fresh finfish with the value of US$305.9 million, mollusk with US$228.13 million and crustacean with US$207.7 million.
In 2006, Vietnam remained the eighth among top largest suppliers of frozen finfish fillet to Portugal. In 2011, Vietnam was put in the third position after Spain and Namibia. Entering 2012, Vietnam outstripped Namibia to gain the second position after Spain. Vietnam’s fast promotion in its rank during 7 years from 2006 to 2012 was attributable to increase in pangasius exports.
Consumers in South Europe in general and Portugal in particular consider that the quality of wild fish is higher than that of farmed fish. Thus, the price of farmed fish must be competitive. Low price of farmed fish attracts retailers and supermarkets.
Despite modest export value, Vietnam pangasius exports to Portugal were more stable than exports to other markets in EU for the past years. However, pangasius exports to Portugal took the downtrend since 2012 due to EU economic stagnation. According to Vietnam Customs, pangasius exports to the market in 2012 achieved US$15.83 million, down from that of 2011 (US$18.01 million). In QI/2013, fish exports to the market hit US$2.75 million, down from US$3.8 million of QI/2012.
Besides decline in pangasius imports, seafood imports into Portugal in 2012 were on the wane. Last year, Portugal imported US$1.721 billion of seafood from suppliers worldwide, down from US$1.863 billion of 2011.
Despite a slowdown in pangasius imports in 2012, Portugal is expected to become a potential importer of pangasius products when its economy in particular, and EU economy in general, will start to recover.