QI/2017: Vietnam’s pangasius exports rose 1.6%

Shipments to other big potential markets such as Brazil, Mexico and Saudi Arabia also posted the year-on-year increases of 70.4%, 38.8% and 13.8%, respectively. Meanwhile, exports to some other main markets went down, in which, sales to the U.S fell by 24.3%; those to the EU decreased by 21.5%; those to ASEAN downed 10.8%;and those to Colombia dropped by 5.3% over the same period in 2016.

China

In the first three months of this year, Vietnam’s pangasius exports to China gained US$ 69.7 million, up 56.8% from the same period last year. Since February 2017, China has become the biggest pangasius importing market of Vietnam pangasius. Currently, there were nearly 40 Vietnamese enterprises exporting pangasius to China through Cat Lai Port, Bac Phong Sinh border checkpoint; Mong Cai (Quang Ninh) border checkpoint; Chi Ma (Lang Son) border checkpoint; Na Lang and Ta Lung border checkpoint (Cao Bang). In early this year, China continued to a potential importing market of Vietnam pangasius.

The U.S

As of March 2017, Vietnam’s pangasius exports to the U.S touched US$61 million, down 24.3% over the same period last year. Currently, there were nearly 15 Vietnam’s pangasius exporters to the U.S. However, there were 2-3 main exporters to this market. After, the export value of pangasius to the U.S continued the rise, but from the beginning of 2017, it was down due to high anti-dumping tax and other technical barriers from the importing market.

The EU

Vietnam’s pangasius exports to the EU in QI/2017 reached US$49.9 million, down 21.5% over the same period last year. In particular, exports to 4 single largest markets including the Netherlands, the UK, Spain and Germany reported the year-on-year decreases of 2.8%; 15%; 42.8% and 27.2%, respectively. According to the ITC statistics, in 2016, imports of some whitefish species into the EU such as frozen cod fillets (HS code 030471); frozen Alaska (HS code 030475) and frozen cod (HS code 030363) picked up the largest share. Up to now, whitefish products are still very competitive with Vietnamese frozen pangasius fillets (HS code 030462). It is forecasted that from QIII/2017, Vietnam’s pangasius exports to the EU will increase when the price of raw materials decrease due to a sufficient supply to meet market demand.

Brazil

In QI/2017, Vietnam’s pangasius exports to Brazil achieved US$35.5 million, up 70% compared to QI / 2016. Thus, Brazil stayed as the third largest single importer of Vietnam’s pangasius (behind China and the U.S) in earlier this year. According to ITC statistics, Vietnam and Argentina were currently the two largest suppliers of whitefish to Brazil, followed by China and Portugal. In earlier this year, pangasius exports to Brazil showed positive signs with good prices. In the coming time, Vietnam’s pangasius exports to Brazil expected to continue the rise.

In the first three months of this year, top five largest pangasius exporting companies in Vietnam included Vinh Hoan Corp., Bien Dong Seafood, Navico, Hung Vuong Corp. and IDI Corp, with the value of US$140.4 million, accounting for 37.8% of total exports, equal to the same period last year. Vietnam’s pangasius exports forecasted to continue to increasing by 5% compared to 2016.

Written by Ta Ha

Compiled by Dieu Thuy