VASEP Highlight - Feb.2023: Vietnam pangasius exports grew positively in high inflation countries
In January 2023, pangasius exports decreased by 61% compared to the same period last year to only 84 million USD. There are two main reasons for the decline in exports. First, inflation in food and fuel prices in many countries strongly affects low-income households, causing them to limit spending even on reasonably priced foods like pangasius. Second, the objective reason is that in January 2023, there is a Lunar New Year holiday, seafood processing and export factories stop producing for 7-10 days.