MEKSEA.COM – In 2021, the covid-19 epidemic seriously affected the country’s economy, including the pangasius industry. In November 2021, Vietnam’s seafood industry showed many signs of recovery. This is a positive prospect for Vietnam’s pangasius exports in 2022.

Pangasius industry in 2021

Since the 4th outbreak of covid-19 in Southern Vietnam, seafood businesses have been severely impacted due to strict and prolonged social distancing. The epidemic situation spread further and complicatedly, causing interruptions in farming, processing and transportation of goods. The costs of feed, production materials, and “3 things at the factories” processing expenses significantly increase. Besides, the international ocean freight increased 8-10 times, the costs incurred in epidemic prevention and control caused many difficulties for businesses.

In 2021, many seafood enterprises face “3 things at the factories” due to covid-19. (photo: internet)

It was not until November that the seafood industry showed signs of recovery. In the first 11 months of 2021, basa fish exports reached 1.4 billion USD, up 3.3% over the same period in 2020. It is expected that Vietnam’s basa fish exports in 2021 will reach 1.54 billion USD.

Pangasius market 2022

After months of closure due to covid-19, the economy has gradually recovered and adapted to the new situation. However, the policies to stimulate economic development and inflation have pushed up the prices of raw materials and input materials. The prices of aqua feed have continuously increased led to production costs increase. Besides, the epidemic situation is still complicated, making the recovery of production is a challenge for businesses.

Read more: Egypt and UAE increase pangasius imports from Vietnam

Chinese market

It is forecasted that in 2022, China maybe still maintains its position as the largest import market of Vietnam pangasius. However, Zero Covid policies are a big challenge for seafood exporting countries. Moreover, Covid-19 also seriously affects shipping rates and shipping time for frozen seafood to China. It is estimated that the prices for 1 imported shipment are twice as high as in the same period last year. The stereotype that pangasius is a cheap white fish makes it difficult for consumers to pay for its high price.

Vietnam seafood enterprises have gradually recovered and adapted to the new situation. (photo: internet)

US market

2021 is considered a successful year for pangasius in the US market when it maintained a high growth rate for the whole year, increasing in both quantity and export price. Specifically, in the first 11 months of 2021, the turnover to this market will reach nearly 324 million. USD increased 48% over the same period. This result is thanks to the quick recovery of the US market right after the ease of social distancing and returns the normal. Pangasius demand of the US market in the last 6 months of 2021 increased significantly. As a result, the US market turnover skyrocketed in the second half of 2021.

Other markets

Mexico, Brazil, Colombia, Russia and Egypt are potential markets for Vietnam pangasius in 2022. Its forecast comes from the results of this seafood export in the epidemic season in 2021 with a double-digit growth rate, from 44-84%, and the total market share of these 5 markets accounts for 16.3% of export turnover of the pangasius industry in the first 11 months of 2021.

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By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

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