VASEP: Pangasius export turnover is estimated to reach 2.3 billion USD in 2018

VASEP said that thanks to the good growth value of some traditional pangasius markets such as the US, China – Hong Kong, EU and ASEAN, the total export of pangasius was up to 2.04 billion USD in the first 11 months this year. At the current rate, VASEP predicts that catfish exports will reach 2.3 billion in 2018.The Vietnam Association of Seafood Exporters and Producers (VASEP) said in October, pangasius exports to the US increased by 38% due to a sharp reduction in anti-dumping tax rates.In November, the turnover continued to increase by 5.2% compared to the previous month, bringing the US back to the leading position among Vietnam’s largest pangasius consumption markets.

vasep kim ngach xuat khau ca tra du doan dat 23 ti usd trong nam 2018
VASEP: Pangasius export turnover is expected to reach 2.3 billion USD in 2018

By the end of November, pangasius export turnover to the US market reached 494.3 million USD, accounting for 24.2% of the total export value of this item, up 54.6% over the same period last year.”

This is a very positive sign for pangasius exports to the US market in 2018. The growth rate is expected to continue in the remaining months of 2018″, VASEP said.

In many months since the third quarter, the value of pangasius export to China – Hong Kong market has increased steadily but the speed has decreased. Many experts predict that pangasius export to this large market will “cool down” from 2018 to 2019. By the end of November, pangasius export value to China – Hong Kong reached 482.8 million USD, accounting for 23.7%.

Thus, with a large positive growth, pangasius export to the US market has pushed China – Hong Kong down to the second position in the top consumer market of Vietnam.

VASEP said that pangasius enterprises stated that the export of pangasius to the Chinese market had potentials because of large demand, favorable market in trading and importing diversified products.However, this market had many risks. Along with Indonesia, China was 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.VASEP said that the good news in the US market was also a good signal for pangasius enterprises in the EU market, after many months of declining exports in this market, 2018 had made many new advances.The price of domestic Pangasius materials affecting export prices was also a reason for the increase of pangasius export value to EU.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.Thanks to the good growth value of some traditional pangasius markets such as the US, China – Hong Kong, EU, ASEAN has pulled the total pangasius exports to 2.04 billion USD in the first 11 months of this year. At the current rate, VASEP predicted that catfish exports would reach 2.3 billion in 2018.