The U.K’s pangasius consumption on the rise

The U.K. ranked fifth among European markets for Vietnam pangasius, according to the report of Centre for the Promotion of Imports from developing countries (CBI) under the Netherlands’ Ministry of Foreign Affairs. In 2012, British imports of pangasius were the same as that of 2011. The imported pangasius price in the first half of 2012 was averagely higher than that quoted in the second half of the year. Pangasius had to compete with other whitemeat fishes like Alaska Pollock, haddock and cod in the market.

Through September 2013, cod products took the major part in the segment of imported frozen whitemeat fish fillets, followed by Alaska Pollock, haddock, pangasius and hake. Statistics from International Trade Center (ITC) showed that the U.K imported 65.8 thousand MT of cod, 16 percent up from 56.5 thousand MT in the first nine months of 2012. Imported Alaska pollock was about 22.5 thousand MT, up 25 percent from 18 thousand MT. China was the U.K’s leading supplier of frozen fish fillets (HS code 0304), mostly cod and Alaska pollock.

British consumers ate both white and pink pangasius products, but the white pangasius was much more popular. Generally, pangasius was sold in the U.K market with breaded, thawed, smoked products. The fish was also used in traditional “fish & chips” sales.

The value of pangasius fillets imported into the U.K increased from EUR23 million in 2011 to EUR28 million in 2012, reported CBI. Through February 2013, imports from Vietnam was up 0.3 percent against the same time of 2012. With a reasonable price, pangasius become a more competitive product against other whitemeat fishes in the U.K market, where the supply of salmon downed to low level.

However, the rising cod supply in the coming months may affect the position of pangasius in the market.

In 2012, the U.K purchased 10.4 thousand MT of pangasius fillets from outside, accounting for 6 percent of European total imports of this kind of fish; 87 percent of which was frozen fillets and fresh fillets 13 percent. The frozen items reported monthly volume of over 900 MT in May, October and December. In 2013, U.K imports of pangasius is expected to keep on right track or get slight rise compared to last year. Fresh pangasius fillets were sold at EUR2.66 per kilogram averagely. The price reached the peak of EUR3 per kilogram in March and April, and then fell down in other months of 2012.

The U.K’s price for imported pangasius was higher than those in other European markets; however, the country has had stricter requirements for pangasius products. It bought outside pangasius for domestic consumption and did not re-export much. In 2012, U.K exports of pangasius fillets valued at nearly EUR1 million, especially to Germany, France and Ireland.

Some Vietnamese pangasius companies say that the U.K’s demand for pangasius product will be stable in the coming months of the year. The fish price may increase in early 2014.