China, US make up more than 50% of export value for Vietnamese tra fish
Despite making up a significant proportion in terms of the export structure, Vietnam's tra fish exports to the US market have yet to recover due to the adverse impacts caused by the novel coronavirus (COVID-19) pandemic.
Furthermore, since the end of September and early October, pangasius exports to China (Hong Kong) have enjoyed a rebound, with the majority of demand being centred around large-sized pangasius.
By the end of September pangasius exports to ASEAN, the nation’s third largest export market, had recorded a drop of 30.3% to US$102.8 million, of which export value to three major markets within the region, including Thailand, Singapore, and Malaysia, endured a decline of 27.4%, 1.4%, and 25.8%, respectively.
Throughout the nine-month period pangasius exports to the EU market experienced a downward trajectory, with the total export value to the fastidious market recording a drop of 33.8% to US$98.4 million.
In terms of EU importers, the Netherlands and Belgium saw a sharp fall of 27.7%, while exports to Germany and Spain decreased by 35.4% and 17.2%, respectively, in comparison with the same period from last year.
Most notably, pangasius exports to the UK market enjoyed a surge of 68.4% to US$4.8 million in September alone, with the total export value to the market during the reviewed period seeing an annual rise of 27% to US$30.78 million.
This rise means that the UK is the only location among the top 10 largest export markets of Vietnamese Tra fish to successfully maintain positive growth.
With a recovery occurring in some major export markets coupled with a boost in trade promotion activities by local enterprises, the price of raw pangasius by mid-October recorded an increase of VND3,500 to approximately VND22,000 per kilo for tra fish weighing between 0.7 and 0.8 kilo compared to the previous month.
Moreover, the prices of some large sized pangasius also recorded an increase to VND23,500 per kilo, which marks a positive outlook for the market ahead during the remaining months of the year.
Despite this, experts have advised farmers and export enterprises to remain cautious about expanding aquaculture areas for raw Tra fish moving forward.
Related News
Promoting Vietnam-Laos Customs cooperation
09:44 | 21/11/2024 Customs
Latest News
VN's food processing industry struggles to improve quality and value chain integration
15:53 | 22/11/2024 Import-Export
Approach strategy of the seafood industry when implementing UKVFTA
09:26 | 22/11/2024 Import-Export
Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth
09:25 | 22/11/2024 Import-Export
Vietnamese enterprises facing challenges from cross-border e-commerce platforms
14:32 | 21/11/2024 Import-Export
More News
Vietnam, Malaysia eye new milestone in trade ties
14:29 | 21/11/2024 Import-Export
Shrimp exports surge in 10 months, generating 3.2 billion USD
14:27 | 21/11/2024 Import-Export
Vietnam’s exports to the U.S. near US$100 billion milestone
09:46 | 21/11/2024 Import-Export
From the “abnormal” coffee price, worries about the new crop
09:46 | 21/11/2024 Import-Export
What obstacles limit the market share of Vietnamese goods in the UK?
14:49 | 20/11/2024 Import-Export
Why seafood exports to some Middle Eastern Countries are stalled
14:47 | 20/11/2024 Import-Export
Storm No. 3 destroys profits of many insurance companies
14:45 | 20/11/2024 Import-Export
Vietnam, Malaysia eye golden partnership opportunities in Halal industry
14:44 | 20/11/2024 Import-Export
Tra fish sector aiming for production, processing greening for sustainable development
14:41 | 20/11/2024 Import-Export
Your care
VN's food processing industry struggles to improve quality and value chain integration
15:53 | 22/11/2024 Import-Export
Approach strategy of the seafood industry when implementing UKVFTA
09:26 | 22/11/2024 Import-Export
Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth
09:25 | 22/11/2024 Import-Export
Vietnamese enterprises facing challenges from cross-border e-commerce platforms
14:32 | 21/11/2024 Import-Export
Vietnam, Malaysia eye new milestone in trade ties
14:29 | 21/11/2024 Import-Export