Strong drop in pangasius export to European markets

Sales of fish to four European key markets (including Spain, the Netherlands, Germany, Italy) went down in June, though Italy still saw growth of 10.8 percent to US$3.4 million in the previous month.

Spain was the largest pangasius-consuming market in the EU. In June 2012, its imports of pangasius were down 32 percent to US$7.4 million. Due to the decline, fish import into the country only totaled US$48.4 million in the first two quarters of 2012, equal to 35 percent less than the same period of 2011. After positive rise in the first months of the year, fish trade with Spain began downing from May. Furthermore, Spanish economy is facing much more financial difficulties after its banks got credit rating downgrade in European bank rankings. Therefore, it must be so hard for Vietnam pangasius industry to boost fish export to this destination in the third quarter of 2012.

Similarly, the Netherlands - Vietnam’s second biggest pangasius importer in the EU - got down in import value by 35 percent to US$5.7 million in June. Year-to-date earnings from this market were around US$38.5 million, down 25 percent.

Germany reported the sharpest drop of 45 percent to US$27.6 million among four main fish-consuming countries.

Italy was the unique importer recording positive growth in May, but its pangasius imports immediately fell by 13.5 percent to US$3.5 million in June. This was because of tough economic trend in the EU as well as existing difficulties in Vietnam pangasius industry.

According to some importers in Europe, slowing sales has also occurred in many other seafood and food products. Fish consumption may rebound in the last months of the year, but just little growth, because the region is still dealing with financial challenges and fewer profits made by both importers and retailers.