Pangasius exports go for a good price

VCN - Pangasius prices have increased sharply, consumption demand in many countries has been positive and orders are plentiful, so the export price of frozen pangasius fillets has increased to US$3.4/kg, an increase of US$0.25/kg compared to January 2022.
Processing pangasius for export. Photo: Cong Mao
Processing pangasius for export. Photo: Cong Mao

Favorable exports

Pangasius processing enterprises for export in the Mekong Delta said that the price of raw pangasius continued to increase in a range of VND31,000-33,000/kg. This is the highest price in the past two years, pushing up the price of pangasius for export.

That is thanks to the favorable export situation. In the locality with the largest production of pangasius farming, according to the report of Dong Thap Department of Agriculture and Rural Development, in mid-April 2022, the price of raw pangasius was from VND31,000 to VND32,500/kg (an increase of VND1,000/kg compared to the previous week), the average cost to produce one kilogram of raw fish is about VND24,500, bringing high profits to farmers.

Pangasius prices increased, the demand for pangasius in many countries was positive with abundant orders pulling the average export price of frozen pangasius fillets to US$3.4/kg, an increase of US$0.25/kg compared to January 2022.

According to Ta Ha, a pangasius market expert, the picture of Vietnam's pangasius exports in the first and the following quarters of this year could be more optimistic.

“After facing difficulties due to China's 'zero Covid' policy, many pangasius shipments were always in danger of being returned if infected with coronavirus, but now the export value of pangasius to China - Hong Kong has increased again. The forecast is even more positive at least in the next quarter,” said Ha.

By the end of March 2022, the total export value of pangasius to this market reached US$183.4 million, up more than 163% over the same period last year. In March alone, the export value of pangasius to China - Hong Kong reached US$97.5 million, up 119%.

High growth in many markets

According to the assessment of businesses, pangasius exports to the US market are growing well. After the final results of the anti-dumping tax POR17 were announced, pangasius businesses that are not subject to tax are boosting exports to this market.

By the end of March 2022, the total value of pangasius exports to the US reached more than US$160 million, up 123%. Hight inflation is taking place in the US due to broken supply chains and the impact of the Ukraine crisis, prices have increased rapidly, the demand for essential products, including food and seafood has increased sharply, so it will be a good opportunity for enterprises to export frozen pangasius to this market.

The food crisis is also happening in Europe, prices skyrocketed due to supply chain bottlenecks, and booming demand, and the global energy market was heavily affected by the Russia-Ukraine conflict.

Due to the favorable export market, many businesses speed up order fulfillment. According to Vinh Hoan Seafood JSC (VHC) in January 2022, the business achieved total revenue of VND777 billion, up 23%. In which, the main product - pangasius fillet was up 11%, reaching VND489 billion and accounting for more than half of total monthly revenue.

Vinh Hoan currently has six pangasius processing factories, with a production capacity of about 1,000 tons/day, exporting to 46 countries and territories. Except for the Chinese market, which decreased by 36% to VND27 billion, most of the remaining export markets of VHC increased significantly. In which, exports to Europe increased by 20%, reaching VND131 billion - accounting for the third-largest proportion, and exports to the US increased by 25% to VND332 billion - accounting for the second largest proportion in the structure of export revenue.

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

Commenting on the prospects for 2022, VCBS Securities said that the seafood industry had great potential from the new FTAs such as the EVFTA and the CPTPP. The EU is Vietnam's third-largest seafood export market, after the US and Japan, accounting for more than 17-18% of Vietnam's total seafood export value, of which pangasius accounts for 11%.

By Le Thu/ Ha Thanh

Related News

Agricultural, forestry and fishery product exports continue to "scoring points"

Agricultural, forestry and fishery product exports continue to "scoring points"

VCN - In the first four months of 2024, the country's total export turnover of agricultural, forestry and fishery products is estimated to reach more than US$19 billion, an increase of 23.7 percent compared to the same period last year. Most key agricultural and forestry export products increased higher than the same period last year as well as the export value to all markets increased.
Imports and exports achieve US$239 billion by the end of April

Imports and exports achieve US$239 billion by the end of April

VCN - The import-export turnover in April witnessed a slight decrease compared to the previous month but it is still high with more than US$60 billion.
Exports of four localities achieve tens of billions of USD

Exports of four localities achieve tens of billions of USD

VCN - By the end of April, there are four localities and cities reaching an export turnover of US$10 billion or more, according to the statistics of General Department of Vietnam Customs.
Five groups of billion-dollar export commodities to China

Five groups of billion-dollar export commodities to China

VCN - By the end of April 2024, there are 4 groups of goods exported to the Chinese market achieve a turnover of US$1 billion or more.

Latest News

Spending more than US$31 billion for importing computers and electronic products in 4 months

Spending more than US$31 billion for importing computers and electronic products in 4 months

VCN - Computers, electronic products, and components are the group of imported commodities with the largest scale in the country.
Multi-dimensional picture of textile and garment enterprises

Multi-dimensional picture of textile and garment enterprises

VCN - Despite a quite positive start in the first quarter of 2024, the textile and garment industry has still faced many challenges from new requirements of importing countries, requiring enterprises to have proactive solutions to respond.
Promoting Vietnamese pharmaceutical industry

Promoting Vietnamese pharmaceutical industry

Vietnamese pharmaceutical market grew from $2.7 billion in 2015 to $7 billion in 2022 and is forecast to reach more than $10 billion by 2026.
HCM City to host iTech Expo 2024 in July

HCM City to host iTech Expo 2024 in July

The first-ever international technology exposition (iTech Expo) 2024 will take place in Ho Chi Minh from July 10-12, featuring 500 booths from leading technology countries and territories around the world, heard a press conference on May 20.

More News

Pangasius exports are forecasted to bounce back at the end of the year

Pangasius exports are forecasted to bounce back at the end of the year

VCN - It is forecasted that pangasius exports is forecasted to be better from the third and fourth quarters of 2024, leading to the uptrend being adjusted to increase by at least about 10% compared to the current price.
Exports to the US reaches over US$6 billion

Exports to the US reaches over US$6 billion

VCN - The US continues to be Vietnam's largest export market and achieves positive growth.
Market diversification key for enterprises to expand exports

Market diversification key for enterprises to expand exports

Vietnamese enterprises need to meet quality requirements and rules of origin, increase value-added content, and diversify markets, as production and business activities are forecast to face many challenges due to the unpredictable global economy and climate change.
Businesses advised to focus on brand protection in online export

Businesses advised to focus on brand protection in online export

As more and more Vietnamese businesses are using international e-commerce platforms such as Amazon, eBay and Alibaba to expand market, experts have advised domestic firms to pay greater attention to the protection of trademark in the cyberspace, especially during online exporting activities.
Find solutions to attract goods through the first specialized container port in Vietnam

Find solutions to attract goods through the first specialized container port in Vietnam

VCN- As the first specialized container port in Vietnam with 25 years of operation, the volume of goods passing through the international container port of Vietnam (VICT) is still very modest. Mr. Truong Nguyen Linh, Deputy General Director of VICT port, has shared solutions to attract cargo through this port.
Textiles and footwear in a greening spiral

Textiles and footwear in a greening spiral

VCN - More and more regulations on sustainable development are issued in major markets such as the US and EU, imposing pressure on Vietnamese textile and garment enterprises to be faster on the green roadmap.
Build and protect the rice value chain against market fluctuations

Build and protect the rice value chain against market fluctuations

VCN - Due to recent risks and challenges,business performancehave been badly hurt andmany chain links have been under threats ..., the rice industry needs to enhance the role of ministries, branches, localities, and farmers and businesses in building and protecting the rice value chain against market fluctuations.
VN

VN's Steel industry ranks 12th in world crude steel production

This accomplishment not only highlights the industry’s rapid growth in production output but also signifies its increasing independence and diversification of product types.
Chu Lai Port installs specialised crane system

Chu Lai Port installs specialised crane system

Chu Lai International Port belonging to Trường Hải International Logistics Limited Liability Company (THILOGI) has installed a new specialised crane system that costs more than VNĐ400 billion (US$15.7 million).
Read More

Your care

Latest Most read
Imports and exports achieve US$239 billion by the end of April

Imports and exports achieve US$239 billion by the end of April

The import-export turnover in April witnessed a slight decrease compared to the previous month but it is still high with more than US$60 billion.
Spending more than US$31 billion for importing computers and electronic products in 4 months

Spending more than US$31 billion for importing computers and electronic products in 4 months

Computers, electronic products, and components are the group of imported commodities with the largest scale in the country.
Multi-dimensional picture of textile and garment enterprises

Multi-dimensional picture of textile and garment enterprises

VCN - The financial report of Thanh Cong Textile - Investment - Trading Joint Stock Company recorded revenue of more than VND 934 billion in the first quarter 2024, an increase of 7% compared to the same period in 2023; Net profit reached over VND 62 bill
Promoting Vietnamese pharmaceutical industry

Promoting Vietnamese pharmaceutical industry

Vietnamese pharmaceutical market grew from $2.7 billion in 2015 to $7 billion in 2022 and is forecast to reach more than $10 billion by 2026.
HCM City to host iTech Expo 2024 in July

HCM City to host iTech Expo 2024 in July

The first-ever international technology exposition (iTech Expo) 2024 will take place in Ho Chi Minh from July 10-12, featuring 500 booths from leading technology countries and territories around the world, heard a press conference on May 20.
Mobile Version