Vietnam’s pangasius exports to China, US down in Q1
The value of Vietnam’s pangasius exports to two major markets, China and the United States, fell for the first time in three years in the first quarter of 2019, while the export value earned from several other markets rose.
China (including Hong Kong) remained the biggest buyer of Vietnamese pangasius in Q1, but the export value decreased 1.8 percent year-on-year to USD 99.3 million (EUR 88.3 million), according to Vietnam Association of Seafood Exporters and Producers (VASEP).
The U.S. became the third-biggest importer of Vietnamese pangasius, after China and the European Union, in the period. The export value from this market in Q1 was USD 71.16 million (EUR 63.24 million), down 5 percent year-on-year. The export value from the U.S. went down 22.8 percent and 44.4 percent year-on-year in February and March, respectively.
Vietnam’s total export value of pangasius rose 7.8 percent year-on-year to USD 472.2 million (EUR 419.7 million) in Q1, with growth in value seen from the E.U.,the ASEAN bloc, and Mexico, VASEP said.
Pangasius exports to the E.U. in Q1 were worth USD 71.88 million (EUR 63.9 million), rising 42.2 percent. Major markets in the E.U. included Belgium (up 86.9 percent year-on-year), Germany (up 66.6 percent), the United Kingdom (up 53 percent), and the Netherlands (up 29.2 percent).
The pangasius export value from the ASEAN bloc also grew in Q1, at 18 percent, to USD 55.17 million (EUR 49.05 million). Major buyers of Vietnamese pangasius in the bloc were Thailand (up 6.5 percent year-on-year), the Philippines (up 40.6 percent) and Malaysia (up 70.9 percent). Particularly the exports to Malaysia were worth USD 5.51 million (EUR 4.9 million) in March, soaring 119 percent from a year ago.
The value of pangasius exports to Mexico also increased 39.6 percent to USD 34.15 million (EUR 30.36 million) in the period.
The export value from Brazil, Colombia, and the United Arab Emirates fell in the period.