Spain is the biggest importer of pangasius among European countries. According to statistics from Vietnam Customs, Vietnamese pangasius export to this destination valued at US$21.5 million in the first quarter of 2013, down of 11.7 percent over the same period of the last year. The drop was not significant compared to the decreasing level recorded in Spain’s imports of other white meat fish species.
Spanish consumers are eating less frozen fish to turn to other sources of protein. In 2012, they bought more meat (including fresh and processed meat products) than the previous year due to its lower price.
In 2012, fish consumption fell down of 12 percent against that of 2011 as prices climbed up, pushing people to cut their expenses. The National Federation of Provincial Associations of Fish and Congealed Products Retail (Fedepesca) reported that, in 2012, Spanish fish consumption decreased of 1.2 percent in volume and 1.6 percent in value compared to 2011.
With a coast of over 8,000 kilometers, Spain has a developed fishing industry, but it still depends on imports, as wild fish catch does not satisfy domestic demand. Imported fish products make up 50 percent of Spain’s yearly consumption. Pangasius was one of the key imported items, because of reasonable price, during the tough economic time.
According to Mercabarna Food Wholesale Center, in April 2013, frozen pangasius fillets priced averagely at EUR2.4 per kilogram, higher than that of two previous months. Some importers predicted that the fish price will be maintained on these values in May.
It will be hard for Vietnamese companies to boost exports of pangasius to Spain in 2013 because the country continues to sink deeper into economic recession. The Central Bank of Spain predicted that the economy will shrink of 1.5 percent this year after reporting a 1.4 percent drop in 2012.
Currently, Spain has low demand for buying pangasius for domestic inventory but some importers says that they still need to purchase pangasius from Vietnam to supply Spanish households who still consider the fish as an important part in their daily foodstuff thanks to its affordable price. Imports are hoped to recover in 2014 when the country should go out of economic downturn.
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