Up in price of pangasius exported to the U.S. and the EU

Middle East market made up 10.06 percent in Vietnam’s pangasius export value. In the first seven months of 2013, products traded to this destination valued at US$99.117 million, 13 percent fewer than that of 2012. The downtrend was, on the one hand, due to civil war in some countries in the region that made Vietnamese companies hesitant to sell products there in a fear of high risks in payment. Egypt was the second largest consumer of Vietnamese pangasius in the Middle East.

ASEAN consumed US$71.9 million of Vietnamese pangasius products, equal to 7.3 percent in total export revenue in January – July 2013, showing a 12.6 percent growth from the same time of last year. The figure was also much stronger than the level of 4.8 percent year-on-year rise recorded in 2012. Some countries and territories in ASEAN tend to develop projects on pangasius and catfish production, but their fish output and farming areas are still low.

In the U.S., the pangasius fillet market remained stable, though U.S. Department of Commerce announced higher antidumping tax imposed on certain frozen pangasius fillets imported from Vietnam. According to Vietnam Customs, imports from Vietnam had a worth of US$230.3 million between January and July 2013, up 7.5 percent over the corresponding time of last year. The U.S. has passed the EU to become the top pangasius importer of Vietnam.

Price of pangasius in American market has been increasing since April, but still below the price in 2012. Frozen pangasius fillets cost averagely at US$2.91 – 3.1 per kilogram in the first six months of 2013.

The EU ranked the second among key markets for Vietnamese pangasius, accounting for 22.5 percent of total value. Exports to the region have not increased as the result of weak economic recovery in some countries. The fish exports to the market reached US$221.8, downed 12.7 percent from the previous year. The fish saw an average drop of 15 percent in most key single markets like Spain, Germany and the Netherlands.

In January – June 2013, European buyers purchased frozen pangasius fillets at EUR1.75 – 1.87 per kilogram, lower than the level of EUR2.1 – 2.16 per kilogram in January – June 2012. However, since April 2013, the average prices of imported pangasius into Europe increased; the fish also got higher value in several European single markets. This was because European buyers were accelerating imports of pangasius to serve demands in the year’s end holidays.

Between January and July 2013, 20 Vietnamese leading pangasius exporters generated US$600.03 million, representing 61 percent in national fish exports. Vinh Hoan Corporation remained the biggest company with US$97.6 million of revenue. With the zero-percent antidumping tax, An Giang Fisheries Import and Export Joint Stock Company (Agifish) passed Hung Vuong Corporation to be the second exporter with total revenue of US$70.1 million.