Vietnam increases pangasius exports to UK, Singapore as other markets decline
The United Kingdom and Singapore were the only two bright spots for pangasius exports from Vietnam recently, amid downturns in other major markets, according to the Vietnam Association of Seafood Exporters and Producers (VASEP) last week.
From 1 January to 15 June, the pangasius exports were worth USD 612.3 million (EUR 538.4 million), down 29.8 percent year-on-year.
Exports to the top 10 markets for pangasius, except the U.K. and Singapore, saw a negative growth in value in the period. The value of the exports to the U.K. was USD 28.6 million (EUR 25 million), 7.1 percent higher year-on-year, and the export value from Singapore was USD 18.5 million (EUR 16.3 million), up 5.7 percent year-on-year.
China (including Hong Kong) was the largest destination for pangasius from Vietnam during the period between 1 January and 15 June, with an export value of USD 187.9 million (EUR 165.2 million), contracting 15.5 percent from a year ago. The shipments to China suddenly fell in May and the first half of June, when Chinese authorities ramped up checks on seafood import cargoes at their ports due to coronavirus fears. In addition, delays in re-opening at many supermarkets in northern China have resulted in lower prices for pangasius in this market in recent weeks, VASEP said.
Exports to the U.S., the second largest market for pangasius from Vietnam, have not recovered yet as the COVID-19 outbreak has not been successfully controlled there. During the period, the value of the exports to the U.S. went down 24.4 percent year-on-year to USD 95.5 million (EUR 84 million).
Like China and the U.S., the European Union also reduced purchases of pangasius over 1 January-15 June. The value of the exports to the bloc shrank 36.6 percent year-on-year to USD 64.6 million (EUR 56.8 million) in the period, with the declines seen in all three leading buyers: the Netherlands, Germany and Spain.
VASEP expects to see some growth in exports of pangasius from the third quarter, especially to China and the U.S.
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