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Pangasius exports increase but are not optimistic

09:43 | 25/10/2022

VCN - Vietnam's pangasius exports (XK) to many markets increased dozens of times, pulling the export results in September to double over the same period. However, this result is not considered a favourable growth rate.

Pangasius exports can achieve record this year Pangasius exports can achieve record this year
Pangasius exports grow strongly thanks to good prices Pangasius exports grow strongly thanks to good prices
Pangasius exports to US enjoy record prices Pangasius exports to US enjoy record prices
The main product of pangasius pulled seafood export turnover up
The main product of pangasius pulled seafood export turnover up

Statistics from the General Department of Customs show that Vietnam's pangasius exports in September 2022 reached US$164 million, double last year. Many export markets increased dramatically by 2-3 times compared to the same period last year, such as China, Brazil, Thailand, the UK, Netherlands, Australia, Singapore, etc.

Most impressively, pangasius exports to Germany in September 2022 increased 41 times over the same period, and exports to Peru increased 17 times.

However, according to the analysis of Ms Le Hang, Deputy Director of the Training Center of the Vietnam Association of Seafood Exporters and Producers, the above breakthrough growth rates are not an optimistic sign because September 2021, due to the impact of the Covid-19 epidemic, pangasius exports dropped to the lowest level.

"Moreover, usually every year in September, which is about to be the peak season, there are many orders for year-end and New Year holidays, but this year, September pangasius turnover is 15% lower than August. Meanwhile, markets such as China, Mexico, Brazil, the UK, Canada, the Netherlands, and Colombia all have their pangasius imports 17-36% lower than in August," analyzed Hang.

However, there are still some markets with positive trends because export turnover is higher than in August, such as Australia, up 11%, Singapore up 22%, Saudi Arabia up 32%, and France up 86% etc.

In the first 9 months of the year, the country's pangasius exports reached nearly 2 billion USD, up 83% over the same period last year. Pangasius fillets/frozen cuts reached over USD 1.7 billion, accounting for 87%; fresh pangasius whole accounted for 12%, reaching 235 million USD; the rest are processed pangasius products, accounting for 2% with 138 million USD.

Ms Nguyen Ngo Vi Tam, General Director of Vinh Hoan Joint Stock Company, said that this year is a year of great success for Vinh Hoan as pangasius exports are quite favourable. The strength of Vietnam's pangasius industry is its production and processing process, which has achieved a competitive level with many other white fish, ensuring a stable supply and very good selling price, especially in the US market.

Since the beginning of the year, the US has imported over 96 thousand tons of frozen pangasius fillets (HS code 030462), valued at over US$405 million, up 26% in volume and 95% in value over the same period last year. As a result, the average price of frozen pangasius fillets in the US in the first eight months of the year reached $4.21/kg, up 54% over the same period last year.

In particular, the average price of frozen pangasius fillets exported to the US in August 2022 reached a high of 5 USD/kg – this is the highest record price ever.

Although exports to the EU still increased more than 2 times over the same period, this market only accounted for 8% of total pangasius exports, with nearly 160 million USD. So, the top 3 markets in this block include the Netherlands, which accounts for 2.2% with over 44 million USD, over 21 million USD and Belgium, and Belgium

The CPTPP block accounted for 13% of pangasius exports in the first nine months of the year with nearly $260 million, an increase of 80% over the same period last year. The dominant markets in the block are Mexico, which accounts for 4.3% with nearly 85 million USD; Canada accounted for 2.4% reaching more than 47 million USD; Australia accounted for 1.6% reaching 30.5 million USD; and Singapore, over 28 million USD, accounting for 1.4%.

According to Ms Le Hang, pangasius orders may increase in October, the peak month of the year-end trading season. Currently, the supply of raw pangasius in many localities is decreasing, and the price of raw fish is increasing. Therefore, hopefully, demand will recover, and the price of pangasius exported to markets will stabilize or increase again so that pangasius in 2022 can reach the finish line with an export record of $2.5 billion, up 54% compared to last year.

Pangasius exports exceed expectations Pangasius exports exceed expectations

Pangasius (tra fish) exports topped US$1.61 billion last year, an 8.4 per cent rise from 2020, according ...

According to research results of SSI Securities Company, besides strong and recovering demand from major export markets, demand is also driven by pent-up orders due to production restrictions in the second half of 2021 because of social distancing in Vietnam.

In addition, market fluctuations in 2022 such as inflation and the Russia-Ukraine war are also opportunities for Vietnam's pangasius export industry, when selected as an alternative to pollock and cod in some major markets.

By Le Thu/Phuong Linh