Pangasius exports increased slightly in September 2023

(seafood.vasep.com.vn) According to data from Vietnam Customs, in September 2023, Vietnam's pangasius exports recorded positive growth for the first time since the beginning of this year, with a value of nearly 167 million USD, up 1% compared to the same period last year.

Accumulated in the first 9 months of 2023, Vietnam's pangasius exports reached nearly 1.4 billion USD, down 31% over the same period last year. In particular, the main export product is pangasius with HS code 0304 (except fish cakes and surimi products) reaching 1.1 billion USD, accounting for 82%. In September 2023 alone, exports to other markets reached 135 million USD, down 4% compared to the same period in 2022. This is the lowest decline since the beginning of this year, followed by live/fresh/frozen/dried pangasius products (HS code 03) (except HS code 0304) reaching 222 million USD, accounting for 16% and other processed pangasius (HS code 16) reached 22 million USD, accounting for 2%.

Pangasius exports increased slightly in September 2023

Regarding the consumption market, in September 2023, Vietnam’s pangasius exports to main markets like China & Hong Kong, EU, Brazil, Mexico,... recorded positive double-digit growth. In addition, the US market, CPTPP, Korea, Singapore,... recorded a decline of 3% to 54% compared to the same period last year.

In September 2023, China & Hong Kong imported 56 million USD of Vietnam’s pangasius, up 15% over the same period last year. By the end of September 2023, export turnover to China & Hong Kong reached 434 million USD, down 26% compared to the same period in 2022. China & Hong Kong have continuously led the top import markets of Vietnam’s pangasius from 2019 to present and are the largest consumer markets for vietnam's pangasius.

The US ranked 2nd in importing vietnam's pangasius. In September alone, the US bought nearly 23 million USD of Vietnam's pangasius, down 29% over the same period last year. High inventory is the factor causing the value of pangasius exports to this market to continuously decline since the beginning of this year. Accumulated in the first 9 months of 2023, pangasius exports to the US reached 207 million USD, down 54% compared to the same period in 2022.

The EU is one of the markets recording positive growth in September 2023. In September, the EU consumed more than 14 million USD of Vietnam’s pangasius, up 11% over the same period last year, up 9% over the previous month. In the first 9 months of 2023, the EU imported 129 million USD of pangasius, down 19% over the same period last year. With export value resuming positive in September 2023, the EU is gradually returning to the top markets importing pangasius from Vietnam.

The CPTPP market narrowed its decline to 4% in September 2023 when pangasius export turnover reached 21 million USD. This is also the lowest decrease of this market sector since the beginning of the year. However, some markets in the CPTPP bloc still gained 10% - 70% such as Japan, Mexico, New Zealand,...

In September 2023, pangasius exports to several main markets showed signs of recovery after a long period of decline. This is a positive signal in the context that most economies in the world have low growth rates due to declining aggregate demand, inflation, central banks tightening monetary policy, world public debt increasing to record levels, the military conflict between Russia and Ukraine, geopolitical instability, food security, natural disasters, climate change... It is expected that the recovery momentum from the end of the third quarter will support pangasius exports in the fourth quarter.
 


SPECIALIST ON
PANGASIUS MARKET

Ms Thu Hang

Email: thuhang@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

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