Vietnam will earn an estimated USD 2.6 billion (EUR 2.47 billion) from its pangasius exports in 2022 due to high demand in its major markets, according to forecasts from the Vietnam Association of Seafood Exporters and Producers (VASEP).
After more than two years of dampened sales caused by the fallout of the COVID-19 pandemic, global sales of pangasius are beginning to recover. In the first five months of 2022, Vietnam exported pangasius worth USD 1.21 billion (EUR 1.15 billion), a growth of nearly 90 percent year-on-year.
China (including Hong Kong) was the largest destination for pangasius from Vietnam in the period, purchasing products worth USD 317 million (EUR 301.4 million), an increase of 124 percent year-on-year.
Currently about 100 companies from Vietnam export pangasius to China, with an average export price ranging from USD 3.15 to USD 3.25 (EUR 3.00 to EUR 3.10) per kilogram, up by about USD 0.50 (EUR 0.47) per kilogram from a year earlier, VASEP said.
The U.S. was also a major destination for pangasius from Vietnam, with sales rising 131 percent year-on-year to USD 310 million (EUR 294.7 million) over the period spanning January to May 2022. In May alone, the export value was USD 69 million (EUR 65.6 million), an increase of 114 percent year-on-year.
The combined sales to countries under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the period rose 64 percent to USD 146.5 million (EUR 139.3 million). Major pangasius buyers within the CPTPP included Mexico, with sales value of USD 51.8 million (EUR 49.2 million), up 71 percent; Canada with USD 27.5 million (EUR 26.1 million), up 86 percent year-on-year; Australia, with USD 16.5 million (EUR 15.7 million), up 29 percent; and Japan with USD 14.6 million (EUR 13.8 million), 64 percent higher year-on-year. The pact includes Australia, Canada, Japan, New Zealand, Singapore, Mexico, Vietnam, Peru, Chile, Brunei, and Malaysia.
Sales to other destinations also brought about positive growth compared to January-May 2021. Sales to the E.U. are up 89 percent year-on-year, as are sales to Thailand (growing 85 percent) and Brazil (increasing 51 percent).
VASEP predicts the farm-gate prices of pangasius will remain stable in the coming months due to high demand in major markets, despite a slight decline recently.
Farm-gate prices in Dong Thap province in Mekong Delta, in the week ending 23 June, reached between VND 30,500 and VND 31,500 (USD 1.31 and USD 1.35, EUR 1.25 and EUR 1.29) per kilogram for 0.7- to 0.8-kilogram fish, slightly lower than between VND 31,000 and VND 32,500 (USD 1.33 and USD 1.4, EUR 1.27 and EUR 1.33) per kilogram in the week ending 26 May, according to VASEP data.
Photo courtesy of VASEP
