The US becomes the leading pangasius import market from Vietnam
MEKSEA.COM – In January 2022, the export value of pangasius to the US market increased sharply by 92.5% year on year, reaching 52.6 million USD. As a result, in the first month of this year, the US temporarily was the largest pangasius export market from Vietnam.
Since July 2021, the anti-dumping tax rate to this market has recorded many positive signs after the DOC announced the final results of the 16th anti-dumping tax administrative review (POR16). The export value of pangasius to the US market should have increased sharply. However, although the growth rate of value still increased compared to the same period last year, the export value has decreased because the capacity of many pangasius processing factories exported to the US in the 2nd and 3rd quarters of 2021 decreased due to Covid-19.
In the fourth quarter of 2021, the export value of pangasius to the US market reached 122.9 million USD, an increase of 68.6% compared to the same period in 2020. The price of frozen pangasius fillets exported to the US market more and more increase, to the level of 3.70 – 3.95 USD/kg in this quarter.
Vietnam mainly exports frozen pangasius fillets, frozen cut pangasius, frozen breaded pangasius, deep-fried pangasius skin, salted egg pangasius skin, and dried pangasius to the US market.
According to statistics from the US Department of Commerce, in the first eight months of 2021, the total value of US pangasius imports from Vietnam accounted for more than 90.2% of the country’s total catfish imports. US pangasius consumption this year is forecast to grow well.
After Covid-19, the US, the world’s largest economy, quickly revived all consumption channels like restaurants, hotels, schools, the smooth logistics chain, the eased inventory volume. This promotes Vietnamese pangasius exporters to have more opportunities to increase exports to the US in 2022.
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By Hayati (Meksea Team)
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