Vietnam’s pangasius exports to most major markets dropped in October, though it noted an increase in sales to China in October.
Vietnam sent abroad pangasius worth USD 1.21 billion (EUR 1 billion) in the first 10 months of this year, 26 percent lower than the same period last year, according to Vietnam Association of Seafood Exporters and Producers (VASEP) on 26 November.
China remained the largest buyer of pangasius from Vietnam, with sales value reaching USD 428.3 million (EUR 359.4 million) between January and October, down 18 percent year-on-year. But recently, Chinese importers have begun to import more fish to meet rising domestic demand, resulting in more pangasius exporters from Vietnam joining the market and USD 80 million (EUR 67 million) in October, accounting for 47 percent of Vietnam’s total pangasius export value. The stronger demand from China also helped lift pangasius prices in Mekong Delta, VASEP said.
As of 19 November, pangasius prices in An Giang Province were between VND 21,500 and VND 21,800 (USD 0.92 and USD 0.94, EUR 0.77 and EUR 0.79) per kilogram for sizes of between 0.7 kilograms and 0.9 kilograms per fish, up by around VND 2,000 (USD 0.09, EUR 0.07) per kilogram from 2019’s prices, according to data from Vietnam’s Ministry of Industry and Trade on 20 November.
However, VASEP said the impact of the COVID-19 pandemic has resulted in large stockpiles of whitefish and tilapia in China. Therefore, China is likely to implement measures to restrict imports – a move that may drive down seafood sales into China in the coming months, VASEP said.
The value of Vietnam’s pangasius exports to the United States, which ranks behind China as the second-biggest buyer of Vietnamese pangasius, was down 4.8 percent year-on-year to USD 23.3 million (EUR 19.6 million) in October, and sales in the first 10 months of 2020 stood at USD 196.7 million (EUR 165 million), down 15.5 percent year-over-year. VASEP estimates that the value of the exports to the U.S. this year will drop by more than 15 percent from 2019.
The downward trend stretched across Southeast Asia, as Vietnam’s pangasius sales to the region dropped nearly 31 percent year-on-year to USD 113.3 million (EUR 95 million) between January and October.
Nevertheless, sales to the United Kingdom recorded a positive year-on-year growth for between January and the end of October. The export value in the month rose 58 percent year-on-year to USD 5.36 million (EUR 4.5 million), while sales in the first 10 months surged 29.3 percent to USD 57 million (EUR 47.8 million), according to VASEP.
Photo courtesy of Vietnam Association of Seafood Exporters and Producers
