Vietnam.- As of July 2017, Vietnam’s pangasius exports totaled US$1 billion, up 8.2% over the same period last year. Out of top 10 major importing markets, despite the year-on-year fall of 23.5% of exports to the EU, shipments to some potential markets such as Brazil, Mexico, Colombia and Saudi Arabia experienced the positive growth.
In the first 7 months of 2017, Vietnam’s pangasius exports to the U.S market reached US$220.8 million, up 3.3% over the same period last year, accounting for 22% of total exports. In QII/2017, exports to the market recorded the remarkable increase from 11% to 52% over the same period in 2016, which pushed the market to the leading position.
Apart from competing with tilapia products from China, Vietnam pangasius also has to compete with some other whitefish products in the U.S market such as haddock; Alaska pollock, cod.
Vietnam pangsius sales to China shot up
In QII/2017, Vietnam’s pangasius exports to China continued to go up 40.1% over the same period last year. In the first half of 2017, the export value of pangasius to China amounted to US$171.4 million USD, up 46.5% over the same period last year. In the coming time, Vietnam’s pangasius shipments to China expected to rise by 25 – 50% year on year.
China – Hong Kong:
In the first 7 months of 2017, Vietnam’s pangasius exports to China – Hong Kong reached US$206.1 million, up 46.2% over the same period in 2016. At the beginning of 2017, seafood prices in China recorded the rise; thus the price of whitefish products, including pangasius, also increased. In the domestic wholesale markets, the volume of crustaceans and mollusks has increased significantly, while that of freshwater fish has declined remarkably.
In May 2017, the average price of crustacean species increased by 22% over the previous year; that of mollusks went up 45% and that of freshwater inched by 13%. Meanwhile, the consumption volume of freshwater fish, which now picked up the largest volume of fishery products traded in China, down 20% from the same period last year to 2,757 MT. Besides, the decrease in carp consumption in China also led to the increase in imports of whitefish products, including pangasius.
Brazil, Mexico, Colombia and Saudi Arabia
In Jan-Jul 2017, Vietnam’s pangasius exports to the 4 potential markets showed the good signs over the same period last year with growth of 59.3%; 25,7%; 8.9% and 6%, respectively. The sharp decline in the last 3 years in the EU market has forced Vietnam pangasius companies to shift their exports to other potential importing markets. In the second half of 2017, the export value to these markets expected to go on the rise from 8 to 35% year on year.
Source: VASEP
