The two largest markets, China and the US, both reduced imports of Vietnampangasius. China is down 22% and the US is down 64%. After a deep decline in January 2023, Vietnam's pangasius exports to China increased by 26% in February 2023, partly showing a positive signal from the Chinese market.
Exports to the EU also had a more positive signal thanks to the German market doubling imports of Vietnam pangasius. Meanwhile, the US import market of Vietnam pangasius has not shown any signs of recovery. Many other markets also suffered a deep drop of 12-61%.
In the first quarter of 2023, Vietnam pangasius exports to the EU market reached 45 million USD, down 4% compared to the same period last year (46.7 million USD). Most markets in the EU increased imports of Vietnam pangasius, of which many markets recorded double-digit growth, such as Romania (36%), Sweden (53%), Denmark (34%). Bulgaria (49%). Some smaller markets in Europe recorded positive 3-digit growth such as: Germany (100%), Lithuania (429%), Finland (436%).
In addition to the EU, Vietnam's pangasius export turnover to some other markets in the first quarter of 2023 also recorded positive growth such as: to Singapore reaching $8.7 million, up 35% over the same period last year, to the UK reached 16.2 million USD, up 34%. Although the country has the highest inflation rate among major economies, the UK is still among the few markets that have recorded positive growth in Vietnam's pangasius imports.
In the first quarter of 2023, most pangasius enterprises witnessed negative growth compared to the same period last year. Top 5 largest pangasius exporters including Vinh Hoan, NAVICO, I.D.I Corp, Van Duc Tien Giang, GODACO, accounting for 34.9% of export turnover, all experienced a decrease in sales by 7-43%.
The seafood industry in general and Vietnam's pangasius industry in particular face challenges from the end of 2022 due to prolonged inflation and high inventories of retailers. In addition to market difficulties, pangasius processing and exporting enterprises also face difficulties in terms of raw materials, credit and production. Input costs from seed to feed and other costs are constantly increasing, farmers abandon ponds, leading to the risk of shortage of raw materials. Both farmers and export processing enterprises fall into a lack of capital to maintain production and business.
The actual context of the pangasius industry is in dire need of the cooperation and support of the Government and state agencies as well as the consensus of farmers and businesses.
Pangasius exports in the coming time are mainly expected to China, some European countries such as the UK, Germany, Portugal and the Middle East markets. Pangasius exports are expected to recover in the third quarter of 2023, thanks to trade and promotion programs.
Thu Hang
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
(seafood.vasep.com.vn) In the first ten months of 2024, 448 Vietnamese companies were involved in exporting pangasius to international markets. Vinh Hoan remains the top exporter, holding a 14% share of Vietnam's total pangasius export value.
(seafood.vasep.com.vn) Vietnam's seafood sector is making impressive strides as it nears the end of the year. Aquaculture has maintained steady growth, while fishing activities have recovered thanks to favorable weather conditions.
(seafood.vasep.com.vn) To ensure sustainable shrimp farming and environmental protection, Soc Trang Province emphasizes raising awareness and improving the capacity of shrimp farmers through various forms of communication and by developing and replicating effective models.
(seafood.vasep.com.vn) To achieve the goal of making the province a national hub for high-quality shrimp post-larvae production and producing 50 billion shrimp post-larvae by 2025, Ninh Thuan has focused on implementing a comprehensive set of measures.
(seafood.vasep.com.vn) The seafood processing company Kyokuyo has just opened a seafood processing plant in Vietnam to reduce its reliance on China. In Japan, Kyokuyo ranks as the third-largest seafood producer, following Maruha Nichiro and Nissui.
(seafood.vasep.com.vn) Vietnam's total fishery production in the first 10 months of 2024 is estimated at 7,889.8 thousand tons, a 2.5% increase compared to the same period last year. Aquaculture contributed approximately 4,612.5 thousand tons, while capture fisheries accounted for 3,277.3 thousand tons.
(seafood.vasep.com.vn) Ms. To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), forecasts that pangasius export turnover could reach the target of USD2 billion in 2024. However, the industry will still face numerous challenges in the coming year.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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