By the end of April 2023, exports to the two largest markets of Vietnamese pangasius, China and the US, also fell deeply. Pangasius exports to China & Hong Kong only reached $183 million, down 39% over the same period last year. The US market also reduced imports of Vietnamese pangasius because of high inventory, reaching $86 million, down 64% compared to the same period in 2022.
Pangasius exports to the EU market reached 60 million USD, down 8% compared to the same period last year. Exports to many markets in the bloc decreased from 13% to 31%, except for Germany, which increased by 78%. Many key markets have reduced imports of Vietnamese pangasius such as the Netherlands by 22%, Belgium by 13%, Spain by 30%.
Beside the EU, Vietnam's pangasius export turnover to some other main markets in the first 4 months of 2023 also experienced a negative double-digit growth compared to the same period last year such as: to Mexico down 45%, to Canada down 51% , to Japan down 15%, to Brazil down 33%, to Thailand down 49%.
Vietnam pangasius exports in the first 4 months of 2023 recorded negative growth in many markets
In addition to the German market, Singapore and the UK are also two bright spots for Vietnamese pangasius exports. Specifically, by the end of April 2023, pangasius exports to the UK reached 22 million USD, up 13%, to Singapore reached 12 million USD, up 20%. Although among the high inflation rate countries, the UK still increased imports of Vietnamese pangasius with a double-digit growth.
Exports of all pangasius products have negative double-digit growth. In which, exports of frozen pangasius fillets/cuts (HS code 0304) reached $471 million in the first 4 months of 2023, down 45%. Export of fresh/frozen/dried pangasius (HS code 03) reached USD 89 million, down 9%, export of processed pangasius (HS code 16) reached USD 9 million, down 23%.
The consequences of prolonged inflation and high inventories are one of the difficulties for the seafood industry, including pangasius. Vietnamese seafood farmers and businesses are facing challenges from a declining market, high raw material costs and other input costs, a sharp drop in profits, a lack of capital to turn over production and business.
In the current context, the pangasius industry really needs the cooperation and support of the Government and state agencies as well as the companion and consensus of farmers and businesses.
Compiled by Thuy Linh
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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