Pangasius exports to the EU drops by 19%

	Pangasius exports increase but are not optimistic
	In 2023, pangasius exports grow in difficulties
	Positive signals of Pangasius exports to high inflation markets

Processing pangasius for export in the Mekong Delta

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), after many months of decline, in September 2023, Vietnamese pangasius exports to the EU recorded positive growth again with a value of more than US$14 million, up by 11% year-on-year. As of October 15, 2023, the EU market imported more than US$134 million of pangasius from Vietnam

The Netherlands is still the leading importer in the European Union of Vietnamese pangasius with more than US$10 million, an increase of 9% in the third quarter of 2023. In the third quarter of 2023, the Netherlands recovered the demand for Vietnamese pangasius compared to previous quarters, recording positive growth for the first time since the beginning of the year in July (up 13%) and September (up 26%), in August alone, the import saw a slight decrease of 4%. However, in the first nine months of 2023, export turnover to this market still dropped by 20% or US$ 35 billion year-on-year.

Behind the Netherlands, Germany, Belgium, Spain, Italy, and France are also the markets that import a lot of pangasius from Vietnam. Notably, Germany imported US$28 million in the first 9 months of this year, up 32% year-on-year. In addition, some other markets in the bloc also increased their purchases of pangasius from Vietnam, including Finland (up 14 times), Latvia (up 72%), Sweden (up 25%),...

In the first 9 months of 2023, the average price of pangasius exports to the EU is 2.78 USD/kg, down 10% over the same period last year. The average price in the third quarter of 2023 was recorded to increase slightly compared to the second quarter of 2023 but still decreased by 16% compared to the same period last year.

Pangasius exports grow strongly thanks to good prices

The EU is forecast to be able to achieve its goal of bringing inflation down to 2% despite difficulties from the cost of living crisis and concerns about falling global demand. This economic bloc is controlling the effects of the conflict in Ukraine, but this bloc may be negatively impacted by the current Hamas-Israel conflict. Therefore, pangasius exports to the EU market in the last quarter of this year narrowed the decrease compared to previous quarters but could not recover to the growth level of the same period last year.