Frozen pangasius fillet product with code HS 0304 was still the main product exported to the UK market, the value in QII/2023 reached more than 15 million USD, down 15% compared to the same period last year. Total pangasius export turnover to the UK in the first 6 months of the year reached 33 million USD, recording a positive growth of 2.9% over the same period last year.
The average price of pangasius exports to the UK in the first 7 months of the year continuously fluctuated but always remained below 3.3 USD/kg. After dropping sharply in June to below 2.7 USD/kg, in July 2023 the price of pangasius exports to this market increased slightly to 2.8 USD/kg. In July 2023, the export volume to the UK reached more than 1.4 thousand tons, down 11% over the same period last year, up 5% over June and up 138% over January this year.
3 main important factors that will impact the consumption potential of the pangasius industry: sustainability, transparency, traceability
At the 2023 International Pangasius Outlook Forum within the framework of VIETFISH 2023, Mr. Arno Willemink - Operations Director of De Heus Vietnam presented 3 main important factors that will impact the consumption potential of the pangasius industry. Future investigations include sustainability, transparency and traceability issues. This trend will take place not only in main markets such as the US or EU but also other potential retail markets. Mr. Willemink said that pangasius at reasonable prices is gradually replacing naturally caught white-fish (if the fishing output remains stable, does not increase over the years).
In the first months of 2023, the UK is one of the few bright spots recording positive growth while most markets reduced imports of Vietnamese pangasius due to world fluctuations.
The biggest challenge for the UK economy and the pangasius export industry to this market is still high inflation
The biggest challenge for the UK economy and the pangasius export industry to this market is still high inflation. External conditions are unfavorable to British economic growth, when economic leaders in the region and the world such as Germany and China are still sluggish "going downhill" to escape the risk of recession; The Russia-Ukraine war and "headwinds" from economic sanctions from major countries are still creating obstacles to British economic growth.
Towards the 50th anniversary of diplomatic relations between the UK and Vietnam. Along with many commemorative activities, it demonstrates the long-term friendship and cooperation between the two countries and affirms that the relationship between the UK and Vietnam is at the highest level with a lot of potential in the coming years. It is expected that new steps in diplomatic relations between the two countries will open up more opportunities for Vietnamese seafood exports in general and pangasius exports in particular to the UK.
Compiled by Thuy Linh
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