Vietnam was able to increase its sales value of pangasius in China (including Hong Kong) and the United States in March compared to January, despite the turmoil surrounding the COVID-19 pandemic, according to latest data from Vietnam Association of Seafood Exporters and Producers (VASEP).
Exports to China in the month soared 109 percent to USD 34.7 million (USD 32 million) in value compared to January – when the outbreak was spreading in China – VASEP said, without providing a year-on-year breakdown.
The value of the pangasius shipments to China in the first quarter was USD 63.2 million (EUR 58.3 million), down 36.4 percent from the same period in 2019. Despite the year-on-year drop, China became the largest destination for pangasius from Vietnam and VASEP said the figure is acceptable during the spread of the outbreak in the country.
“It is expected that pangasius exports to China will bounce back in the second quarter, with the year-on-year increase of between 30 to 40 percent,” VASEP said.
Exports to the U.S., which was a hard market for pangasius producers last year, also rose 27.1 percent to USD 23 million (EUR 21 million) compared to USD 18.1 million (EUR 16.7 million) in January 2020.
In the first quarter, Vietnam exported pangasius worth USD 61.7 million (EUR 57 million), diving 13.2 percent from January to March last year.
VASEP said it expects positive growth in exports to the U.S. in the second quarter, following the “promising signals” from this market in the first quarter.
Compared to the first three months of last year, exports of pangasius from Vietnam to most other markets went down in this quarter due to impact from the COVID-19 crisis. The value of the exports to E.U. fell 36.5 percent to USD 36.5 million (EUR 33.7 million) in the first quarter, with the year-on-year declines seen in most major markets within the bloc such as the Netherlands (down 31.4 percent), Germany (down 30 percent), Belgium (down 45.3 percent), and Spain (down 31.4 percent).
The value of sales to the ASEAN bloc, Brazil, Mexico, Colombia, and Australia also fell between 12 to 57.8 percent in the period.
In total, Vietnam exported pangasius worth USD 334 million (EUR 308 million) in the first three months, down 29.3 percent from a year ago, VASEP said.
Photo courtesy of Jack Suvarnabhumi/Shutterstock
