Vietnam's pangasius export value to some main markets in June 2023 is gradually narrowing the gap with the value achieved in the same period last year. In June 2023, pangasius export turnover to China & Hong Kong reached 48 million USD, down 15%; exports to the US reached 23 million USD, down 51%, exports to the CPTPP market reached 21 million USD, down 39% over the same period last year.
The decrease in pangasius export turnover to China & Hong Kong gets smaller after months
The decrease in pangasius export turnover to China & Hong Kong gets smaller after months. Vietnam's export turnover to China & Hong Kong in April 2023 decreased by 66%, May 2023 decreased by 30% compared to the same period in 2022, then in June narrowed to only 15%. This “population billionaires” market always ranks in the top 1 of the market that consumes the most Vietnamese pangasius. The decreasing gets smaller from April to June reflects the sign for recovery in the pangasius export industry.
Vietnam’s pangasius exports value to the US in June 2023 reached 23 million USD
Vietnam’s pangasius exports value to the US in June 2023 reached 23 million USD, down 51% over the same period last year. Although it still recorded negative double-digit growth in June 2023, compared to the previous 2 months, the gap has also narrowed. Specifically, in May 2023 pangasius exports to the US decreased in April 2023 decreased by 66% compared to the same period in 2022 while in May the decline was 53%.
In the first 5 months of 2023, the average export price of Vietnamese pangasius to the US market reached 3.3USD/kg, down 30% over the same period in 2022.
The US Department of Commerce said that the Personal Consumption Expenditure (PCE) index in May 2023 increased by 3.8% compared to the same period last year, significantly down from the 4.3% recorded in the previous month.
In addition to the inflation factor, which causes a decrease in consumption demand in the US, the large inventory problem caused Vietnam's seafood exports to this market to sink into negative growth. The low price of products from the sold-out inventory put pressure on the price of new imported goods. In June 2023, Vietnam's pangasius exports to the CPTPP market reached 21 million USD, down 39% over the same period last year. The markets in the bloc also reduced imports of pangasius from 23% to 55%.
Compiled by Thuy Linh
(seafood.vasep.com.vn) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
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