Particularly in September 2019, pangasius export value decreased by 14.6%
Pangasius exports may see a negative growth this year
Monday, November 18, 2019, 02:20 (GMT + 9)
By the end of September 2019, the total export value of pangasius reached USD 1.46 billion, down 8.5% over the same period in 2018, reports the Vietnam Association of Seafood Exporters and Producers (VASEP).
Particularly in September 2019, pangasius export value decreased by 14.6%. Export value to many major importers such as the US, EU, Brazil, Mexico, and Colombia also dropped sharply.
Reception and control of raw material (Photo: Stockfile)
Until the end of September 2019, China - Hong Kong was a key market of many Vietnamese enterprises. This market accounted for an increasingly greater proportion in Vietnamese pangasius export structure. In the first nine months of 2019, the export value to China - Hong Kong accounted for 30.9% of the total pangasius export value, reaching USD 450.7 million, up 19.6% compared to the same period in 2018.
With this export value, China - Hong Kong market was twice as large as the 2nd largest Vietnamese pangasius importers - USA in terms of export value. Currently, China is the most diversified importer for many types of pangasius with frozen fillets and processed pangasius products of Vietnam such as frozen fillet pangasius, frozen whole pangasius butterfly, frozen whole pangasius, frozen pangasius stomach, frozen breaded pangasius.
Pangasius manual filleting line (Photo: Stockfile)
By the end of September 2019, the total export value of pangasius to the US market - the second largest importer reached USD 208.3 million, accounting for 14.3% of total pangasius export value, down 43.6% compared to with the same period in 2018. Thus, this was a large and noticeable decline in the US in the past five years. It is forecasted that, pangasius exports to the US in the fourth quarter continues to decrease. This year, pangasius exports to the US was not as expected of many enterprises.
Pangasius exports to the EU market in the first nine months of 2019 increased by 7.3%, compared to the same period in 2018, reaching USD 189.3 million. In which three largest single importers were Netherlands, the UK and Germany. Exports to Netherlands declined by 1,9%, while exports to the UK and Germany went up by 23.8% and 32.5% respectively.
Pangasius roll salmon - Vinh Hoan Corporation, JSC
After half a year of positive growth, pangasius export value growth to ASEAN market has started to slow down. By the end of September 2019, the export value to this market reached USD 147.5 million, up 1.4% over the same period in 2018. In particular, the export value to Thailand and Malaysia market still had many positive signs.
Notwithstanding, by the end of September 2019, pangasius export value to three potential markets (Mexico, Brazil and Colombia) have been in decline since the beginning of the year. It is forecasted that from now until the end of the year, export value to these markets will still be negative growth compared to the same period in 2018.