Vietnam saw its export value of pangasius decline significantly in the first seven months of this year due to the persistent impact of the COVID-19 pandemic, according to data from Vietnam Association of Seafood Exporters and Producers (VASEP) and top exporter Vinh Hoan.
The country exported pangasius worth USD 791 million (EUR 666.6 million) from January to July – 30.1 percent lower year-on-year.
China (including Hong Kong) was the biggest buyer of the fish from Vietnam during the period, with the export value accounting for 30.1 percent of Vietnam’s total export value of pangasius. But it is still lower than the share of 39 percent it held in the same period last year.
The export value from China in the first seven months also went down 22 percent from last year “due to severe foodservice disruptions-particularly the smaller ones, weaker demand, and regulatory uncertainty with regards to import standard and requirements,” Vinh Hoan said.
The export value from the U.S. in the period also slid 20.2 percent year-on-year to USD 133.7 million (EUR 112.7 million). VASEP said the export value from the U.S. fell 20.7 percent in April, 52.1 percent in May, and 31.5 percent in June as the foodservice sector was still hit hard by the COVID-19 pandemic.
According to VASEP, due to low demand in the U.S., the export prices of pangasius to this market have fallen dramatically to around USD 2.8 (EUR 2.4)/kilogram in June, from USD 3.1 (EUR 2.6)/kilogram in January of this year.
But the export value from the U.S. surged 4.4 percent in July, which VASEP hopes may start a recovery in this important market for pangasius.
The export value of pangasius from the European Union in the period dived 35 percent year-on-year. However, the sales value from the United Kingdom increased 20 percent year-on-year to USD 40 million (EUR 33.7 million) in the first seven months as consumers and retailers there were “seeking sustainably sourced seafood,” Vinh Hoan said.
Photo courtesy of Tochim/Shutterstock
