By the end of April 2023, Vietnam’s pangasius exports to most of the markets in the EU experienced a decline, the lowest decrease was 13%, the highest was 30% compared to the same period in 2022. Top 3 main markets in the block that reduce imports of Vietnamese pangasius were: the Netherlands down 22%, Belgium down 13%, Spain down 30%. Although exports to the German market were more positive, it still recorded a positive growth of 78% in the first 4 months of 2023.
The EU used to be Vietnam's largest pangasius import market with sales peaking at USD 511 million in 2010, accounting for 36% of Vietnam's pangasius exports. However, in the following years, pangasius exports to this market decreased sharply primarily attributable to media campaigns tarnishing the reputation of pangasius within certain European countries.
Vietnam’s pangasius exports to the EU had a breakthrough in 2022 thanks to a sharp increase in demand after being affected by the COVID-19 pandemic for a long time (Cre: Huu Duc-BD)
Vietnam’s pangasius exports to the EU had a breakthrough in 2022 thanks to a sharp increase in demand after being affected by the COVID-19 pandemic for a long time. In particular, the incentives from the EVFTA, the Russia-Ukraine conflict and a series of sanctions by other countries against Russia's economy and trade have increased the EU's demand for white fish imports from Vietnam.
Pangasius exports to the EU in the first 4 months of 2023 decreased compared to the same period in 2022 but still a positive result compared to the same period in previous years. This is also a remarkable number in the effort to gradually bring Vietnamese pangasius back to the EU market, after decades of being “lagged behind”.
However, the existence of varying market regulations within the EU poses a challenge for Vietnamese seafood exporters, including pangasius. It is crucial for businesses to diligently study and understand these regulations to effectively utilize tariff preferences and adhere to rules of origin when exporting pangasius to the EU market.
Compiled by Thuy Linh
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
(seafood.vasep.com.vn) On December 11, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) was once again honored in the "Top 50 Most Effective Businesses in Vietnam" ranking, compiled annually by the Investment Bridge Magazine. This marks the 11th consecutive year Vinh Hoan has been recognized in this prestigious list.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
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