America regained the “throne” of pangasius export market of Vietnam

The Vietnam Association of Seafood Exporters and Producers (VASEP) has stated that by the end of November 2018, the value of pangasius export to the US market reached 494.3 million USD, accounting for 24.2% of the total value of catfish export, increasing 54.6% compared to the same period last year.

VASEP said that this is a very positive sign for pangasius export to the US market in 2018. The growth rate is expected to rise in the remaining month of 2018.

In many months since the quarter 3 of 2018, the value of pangasius export to China – Hong Kong market has increased steadily but the speed has decreased.

Many experts have previously predicted that pangasius export to this large market will “cool down” in 2018-2019. In fact, as of the end of November 2018, the value of pangasius export to China – Hong Kong reached 482.8 million USD, accounting for 23.7% of the total export value of Pangasius and 29.3% higher than the same 2017 period.

Thus, with a large positive growth of pangasius exports to the US market, China – Hong Kong have been pushed down to the second position in the top export market of Vietnamese pangasius enterprises.

VASEP said that pangasius enterprises stated that the export of pangasius to the Chinese market has potentials because of large demand, favorable market in trading and importing diversified products. However, this market has many risks.

Along with Indonesia, China is also actively raising red pangasius in some areas to serve the domestic market in the immediate future, in addition, increasing the export volume of pangasius besides tilapia products in the American market.

The good news in the US market is also a good signal for pangasius enterprises in the EU market, after many months of declining exports in this market, 2018 has made many new advances.

The price of domestic Pangasius materials affecting export prices is also a reason for the increase of pangasius export value to EU. However, the causes sound more optimistic than many other large export markets, which is completely real.

By the end of November 2018, the value of pangasius exports to the EU reached 217.8 million USD, increasing 17.1% over the same period. In particular, exports to the four largest markets such as: the Netherlands with 29.6% rise; The UK with an increase of 1%; Germany with 7.1% and Italy increasing by 56.2% over the same period in 2017.

The fourth largest export market of Vietnamese pangasius is also on a positive growth trend in the first 11 months of this year when the three largest export markets are Thailand, Singapore and Philippines with the value increasing by 48.1%, 25% and 39.3% over the same period.

In addition, the UAE market also grew strongly to 117.6% over the same period.

Thus, it can be said that, thanks to the good growth value of some traditional big markets of pangasius such as America, China – Hong Kong, EU, ASEAN has pulled the total export of pangasius to 2.04 billion USD in the first 11 months of this year.

At the current rate, VASEP predicted pangasius exports to reach 2.3 billion in 2018.