Pangasius exports continued to drop by 12.7% in Jul 2019

China – Hong Kong

In the first 7 months of 2019, the total export value of pangasius to the China - Hong Kong market reached US $ 320 million, up 10.4% over the same period in 2018. In particular, in July 2019, the export value to this market grew incredibly by 71.1% compared to the same period last year despite the decrease of 19.1% in pangasius export value to Hong Kong.

The US-China trade war has caused Chinese exports to be working slowly. The move of devaluing the Reminbi of China to boost exports and reduce imports also reduces the amount of goods entering this market.

After many years with positive growth rate, Vietnamese pangasius exports to this market fell in 3 months (in the first 7 months of this year).

Moreover, the plan to "localize" Chinese pangasius is also being encouraged and invested by the Government of this country. It is forecasted that in the second half of this year, Vietnam's pangasius exports to China - Hong Kong still grew positively but will not reach the expected level.

The US

In July 2019, pangasius exports to the US reached US $ 25.6 million, down 56.2% over the same period in 2018. By the end of July 2019, the total value reached US $ 167.6 million, down 34.3% compared to the same period in 2018. Although, the US still ranked second in the top largest importer of Vietnamese pangasius. But from now until the end of 2019, pangasius exports to this market will be difficult to escape the negative growth and will continue to decrease in the coming months. Many technical and commercial barriers in this market are being set up for many supplieres of whitefish, including both China and Vietnam.

EU

In July 2019, pangasius export value to the UK market began to decline and slow down markedly. This market is considered to be a great potential in this region with high selling prices in addition to favor high quality products. By the end of July 2019, pangasius export value to the UK market - the second largest market in the EU reached US $ 33.3 million, up 36.3%, in July 2019 alone, the value decreased by 10% compared to with the same period in 2018. Also during this period, in July 2019, pangasius export value to the largest market in the region decreased by 28.3%. Pangasius exports to Germany and Belgium in the first 7 months of this year grew well at 39.6% and 32.5% respectively, over the same period in 2018. Thanks to positive growth in export value in some individual markets, so the total export value of pangasius to the EU in the first 7 months was US $ 156.7 million, up 12.6%.

Other markets

In the first 7 months of 2019, pangasius exports to ASEAN, Mexico and Japan went up by 4.6%; 13% and 7.7% respectively, but exports to Brazil and Colombia dropped by 18.6% and 25.4% respectively over the same period in 2018. It is forecasted that in the second half of the year, the growth rate in these large potential markets will remain the same as in the first half.