Pangasius exports bounced back after the decline

The total export value of pangasius reached US$ 1.21 billion, down more than 26% over the same period in 2019 by the end of October 2020. In the top 10 largest pangasius export markets of Vietnam, the UK has still been a bright spot with a consecutive positive growth from the beginning of the year.

China-Hongkong

In the first 10 months of this year, the total export value of pangasius to this market reached US$ 428.3 million, accounting for 35.3% of the total pangasius export and down 18% over the same period in 2019. Although the export value has decreased since the Covid-19 pandemic, since October 2020, the import demand of the market has been active again, importers actively import goods even during National Day holidays. This move was also a reason for the pangasius raw material price in the Mekong Delta and the average export price to increase. In October 2020, the number of pangasius enterprises exports to China rose, the export value to this market reached US$ 80 million, accounting for 47% of the total pangasius export. However, so far, the inventory of white fish and tilapia products of Chinese seafood enterprises has been still high since export activities also were affected. Consequently, the Government of this country may issue a number of policies to reduce seafood imports in the coming time.

The US

In October 2020, pangasius export value to this market sank slightly by 4.8% compared to the same period in 2019, reaching US$ 23.3 million. By the end of October 2020, the total export value of pangasius to this market reached US$ 196.7 million, down 15.5% over the same period in 2019. In 2020, the US economy and politics were much more volatile, so the seafood suppliers for this market did not expect much of the sudden growth in the last months of the year. It is anticipated that, in 2020, the value of pangasius exports to the US market might decrease by over 15% compared to 2019.

ASEAN

Although not heavily affected by the Covid-19 pandemic like the US or some European countries, ASEAN's demand for whitefish imports from February until now has been slow. In many countries, pangasius imports are lower than in the same period in 2019. By the end of October 2020, the total export value of pangasius to ASEAN reached US$ 113.3 million, down nearly 31% over the same period in 2019. In which, exports to Thailand dived by 25.6%; Singapore down by 4.9% and Malaysia diminished by 28%.

The UK

The UK is the highlight of the picture of pangasius export in 2020. By the end of October 2020, there were 10 consecutive months of positive export value growth in this market. The UK was the only market among the top 10 major markets that have not declined due to Covid-19. In October 2020, the export value of pangasius to the UK reached US$ 5.36 million, up 58% over the same period in 2019. By the end of October, the total export value reached nearly US$ 57 million, up 29.3% over the same period in 2019. This year, the number of Vietnamese pangasius enterprises exported to the UK market was higher than that of EU countries.