Sales of pangasius from Vietnam to most major markets fell in the first eight months of this year, except the United Kingdom, Vietnam Association of Seafood Exporters and Producers (VASEP) announced on 23 September.
Vietnam exported pangasius worth USD 913.4 million (EUR 781.8 million) in the months spanning January-August, down nearly 30 percent year-on-year.
While the value of Vietnam's pangasius exports to most key markets shrank, sales to the U.K. increased 23.8 percent year-on-year to USD 46.8 million (EUR 40 million) in the first eight months of 2020. In August, the value of Vietnam's pangasius exports to the U.K. grew 56.3 percent year-on-year, VASEP said.
However, sales to China (including Hong Kong) – the biggest market for pangasius from Vietnam – contracted 24 percent year-on-year to USD 295.8 million (EUR 253.2 million). Despite the decline, the value of the exports to China still almost equaled that of the country's sales to the United States, the Association of Southeast Asian nations (ASEAN), and the European Union.
The U.S. bought the second-highest amount of pangasius from Vietnam in the period in terms of value, importing pangasius worth USD 154.5 million (EUR 132.2 million), down 17.8 percent year-on-year. However, there were signs that U.S. importers have begun purchasing more of the fish, with sales growing 4.4 percent and 2.4 percent year-on-year in July and August, respectively. Exporters are hoping the U.S. will buy more of the whitefish in the remaining months of this year, VASEP said.
Sales to the ASEAN bloc also dived 30.3 percent year-on-year to USD 91.3 million (EUR 78 million) from January through August, which VASEP attributed to impacts of the COVID-19 outbreak in the region. The value of the exports to Thailand and Malaysia fell 28.6 percent and 26 percent year-on-year, respectively, while sales to Singapore remained flat during the period.
The trade group forecasts that sales to ASEAN will slide more than 20 percent year-on-year this year.
Photo courtesy of ShutterOK/Shutterstock
