Pangasius exports recorded positive growth in small markets

(seafood.vasep.com.vn) In the first 8 months of 2023, Vietnamese pangasius exports reached nearly 1.2 billion USD, down 34% compared to the same period in 2022.

Pangasius export turnover in August 2023 reached 170 million USD, down 13% compared to the same period in 2022. The 13% decrease in August has narrowed compared to previous months (May, June, and July  decreased by 23-36%).

The primary exported products of pangasius are categorized under code 0304, excluding fish cakes and surimi products. These exports amounted to a total of 973 million USD, representing a significant share of 82%. Followed by live/fresh/frozen/dried pangasius products (under code 03) (except fish under code 0304)  with a total export value of 192 million USD, making up 16% of the total. Finally, other processed pangasius products under code 16 contributed 20 million USD to the exports, accounting for 2%.

Regarding consumption markets, in August 2023, pangasius exports to main markets such as China & Hong Kong, US, EU, and CPTPP continued to decrease by double digits. In August, exports to a number of smaller markets recorded positive double-digit growth compared to the same period last year, such as Saudi Arabia increased by 79%, Brazil increased by 53%, Colombia increased by 14%, and Egypt increased by 14%.

Chú thích ảnh

China & Hong Kong markets in the first 8 months of this year bought 378 million USD of Vietnamese pangasius, down 30% compared to the same period last year

China & Hong Kong markets in the first 8 months of this year bought 378 million USD of Vietnamese pangasius, down 30% compared to the same period last year. By the end of August 2023, the Chinese market alone imported 354 million USD, down 31% compared to the same period in 2022. China & Hong Kong are the markets that consume the most Vietnamese pangasius, continuously leading the top of the list. The largest import market for Vietnamese pangasius from 2019 to present.

By the end of August 2023, the US still maintained the No. 2 position in importing Vietnamese pangasius after China & Hong Kong. In the first 8 months of this year, Vietnamese pangasius exports to the US reached a turnover of 184 million USD, down 56% over the same period last year. In August 2023 alone, this market bought 25 million USD of Vietnamese pangasius, down 24% compared to the same period last year. Inventories in the US tend to decrease, combined with the US President's visit to Vietnam, which is expected to be a good sign for pangasius exports to the US.

Chú thích ảnh

The CPTPP market continues to remain the third largest market for pangasius imports

The CPTPP market continues to remain the third largest market for pangasius imports. By the end of August 2023, Vietnam's pangasius export turnover to CPTPP reached 158 million USD, down 34% over the same period last year. In the context of a general decline, most markets in the CPTPP bloc also reduced imports of Vietnamese pangasius from 1-47%. However, some small markets in the bloc still recorded positive double-digit growth such as Brunei increased by 12%, New Zealand increased by 16%.

The EU market in the first 8 months of this year imported 115 million USD of pangasius from Vietnam, down 22% compared to the same period last year. Pangasius exports to the EU in May - July recorded a decrease of 13% - 22%. Most markets in the EU reduced imports of Vietnamese pangasius by 14-65%. Some bright spots still recording positive double-digit growth in this market sector are: Sweden increased by 28%, Germany increased by 19%, Denmark increased by 18%. Some markets recorded positive growth of 3-4 digits such as Estonia increased by 138%, Finland increased more than 11 times.

At the International Pangasius Outlook Forum organized by VASEP last August within the framework of VIETFISH 2023, Mr. Ong Hang Van - Deputy General Director of TG Fishery raised the industry's biggest weakness, which is its dependence too much on imported feed. The current problem requires all possible support to bring down the price of aquatic food. The Ministry of Finance should consider bringing the import price of animal feed ingredients to 0%, instead of 2% as currently. In addition, fisheries enterprises also need to be facilitated to access preferential credit packages in the current difficult context.

Compiled by Thuy Linh 


Related news

SPECIALIST ON
PANGASIUS MARKET

Ms Thu Hang

Email: thuhang@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

  • Vinh Hoan
  • Detail-Right-Top