Vietnamese pangasius exports are overflowing into markets

(seafood.vasep.com.vn) The total export value of Vietnam pangasius in the first quarter of 2022 increased by nearly 90% compared to the same period last year. In most major import markets, pangasius export value is growing positively by two to three digits.

Vietnamese pangasius exports are overflowing into markets

According to the report by Dong Thap Department of Agriculture and Rural Development - the province with the largest pangasius farming and harvesting output in the country, in mid-April 2022, the price of raw pangasius is from 31,000 to 32,500 VND/kg (an increase of 1,000 VND/kg compared to the previous week), the average cost to produce 1kg of raw fish is about 24,500 VND/kg. At this price, farmers have high profits. Pangasius prices increased, world demand for pangasius was positive, abundant orders pulled the average export price of frozen pangasius fillets to 3.4 USD/kg, up 0.25 USD/kg compared to the previous year.

It can be said that the outlook for Vietnam's pangasius exports in the first quarter of this year and the following quarters is optimistic.

In the first quarter of this year, facing difficulties due to China's zero Covid policy, many pangasius shipments were risky to be returned if infected with the coronavirus. These days the export value of pangasius to China - Hong Kong has increased again. The forecast is even more optimistic for the next quarter onwards. By the end of March 2022, the total export value of pangasius to this market reached 183.4 million USD, up more than 163% over the same period last year. In March alone, the export value of pangasius to China - Hong Kong reached 97.5 million USD, up 119%.

Pangasius exports to the US market also grew well. After the anti-dumping tax POR17 was eventually announced, pangasius enterprises that are not subject to tax are promoting exports to this market. By the end of March 2022, the total value of pangasius exports to the US reached more than 160 million USD, up 123%. Currently, record inflation is taking place in the US due to broken supply chains and the impact of the Ukraine crisis, skyrocketing prices, and demand for essential necessities, including food and seafood. The near future is a good opportunity for enterprises to export frozen pangasius to this market.

Not only in the US, but the food crisis is also taking place in Europe, where prices have skyrocketed due to congested supply chains, soaring demand, and the severely affected global energy market which is the result of the Russia-Ukraine conflict. For the first time after many years of decline, pangasius exports to the EU increased by 86.2% compared to the first quarter of 2021 with an export value of USD 46.7 million. Pangasius export value to major markets in the bloc such as the Netherlands increased by 86%; Germany increased by 97%; Belgium increased by 120%; Spain increased 67%.

It is forecasted that in the second quarter of 2022, pangasius exports to major markets will retain a fair positive growth. Consumption demand increases and is stable due to competitive pangasius prices and can fill the gap in some segments of white fish products (cod, pollock), which are in short supply from Russia.

Due to the good and promising export market, the stock prices of some Vietnamese pangasius exporters have been green in recent years. While many sectors constituting the VN-Index are suffering from fluctuating stock prices, stock prices of the seafood group are still attractive. In which, a number of stock codes in the seafood industry still rebounded and were attractive such as VHC, ANV, ABT, IDI, ACL...

Compiled by Minh Trang

Image source: Vietnamnews
 


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Ms Ta Ha

Email: taha@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

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