The Zero-Covid policy with prolonged restrictions has weakened the Chinese seafood market. Demand for seafood and seafood prices in the market both decreased. Statistics and data collected at 68 wholesale markets across the country show that in September 2022, seafood sales decreased by 19.6% compared to September 2021, the average seafood price was at 3. 41 USD/kg, down 12.1% over the same period last year. The price of freshwater seafood fell 6.3% to an average of $2.64/kg, while the volume of freshwater seafood sold fell by 16.5%, showing the impact of China's COVID-19 lockdown.
In spite of some limitations due to the Zero-Covid policy, China is still a very potential destination for many Vietnamese pangasius exporters. By the end of November, pangasius exports to China reached 636 million USD, up 81% over the same period while exports to Hong Kong reached nearly 38 million USD, up 46%. Particularly, frozen pangasius fillets with HS code 0304 exported to China reached US$472 million, accounting for 74% of pangasius export value to this market.
According to statistics of China Customs, as of October 2022, imports of frozen fish fillets with HS code 0304 from Vietnam into China reached nearly 500 million USD. Of which, frozen pangasius fillets accounted for nearly 89% with $444 million.
The trend of the Chinese market in the coming time is unpredictable and depends significantly on whether China adjusts its Zero Covid policy or not as well as how it is adjusted. However, many seafood traders in the world, including Vietnamese enterprises, are hoping for the stability of this market as this is still a large market with high consumption demand.
Among Vietnamese pangasius import markets, China attracts the largest number of export enterprises. Up to now, there are more than 160 Vietnamese pangasius exporters in China. Top 5 pangasius exporters to China include Dai Thanh Co., Ltd., TG Fishery JSC, I.D.I Corporation, Cadovimex II and Go Dang JSC. In general, there's not much difference in sales between these companies, accounting for 6-7% of pangasius export value to China.
Compiled by Thuy Linh
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices.
(seafood.vasep.com.vn) After increasing to the highest level in 2022, Canada's tuna imports in 2023 dropped to the lowest level in the past 10 years, reaching 35 thousand tons, down 24% over the year. Canada is currently one of the 15 largest tuna import markets in the world.
(seafood.vasep.com.vn) Chile, one of the countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has tended to increase tuna imports from Vietnam in the past 3 years. According to statistics from Vietnam Customs, this South American country imported nearly 3 million USD of tuna products from Vietnam in the first 2 months of 2024, an increase of 58% over the same period in 2023.
Economic and social development activities, overexploitation, pollution, diseases, and climate change have adversely affected the ecological environment, leading to a severe decline or the extinction of many precious indigenous aquatic species.
(seafood.vasep.com.vn) The prices of pangasius fingerlings and raw pangasius in ponds fell in March, following steady increases in the first two months of this year.
(seafood.vasep.com.vn) In February 2024, the average export price of Vietnamese pangasius to markets increased by 4%, although the volume decreased by 40% compared to the previous month.
(seafood.vasep.com.vn) There was a 6% decline in Vietnam's pangasius exports to Brazil in February 2024 compared to the same period in 2023, with the total value reaching 6 million USD.
(vasep.com.vn) In the first two months of 2024, Poland—which ranks as Vietnam's fourth-largest EU supplier of tuna—became a noteworthy market. Vietnam's tuna exports value to Poland increased by 786% in comparison to the same period last year, totaling over $2 million USD and contributing about 2% of the country's overall tuna exports revenue.
Regulations on the protection and sustainable development of aquatic resources, Việt Nam's legitimate rights at sea in accordance with international law and the achievements that the country has carved out to remove the European Union’s “yellow card” will be brought closer to local people.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in January 2024, Vietnamese pangasius exports to Germany decreased by 30% compared to last year and reached only nearly 2 million USD.
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