MEKSEA.COM – As of mid-April 2022, Vietnam’s pangasius exports to Canada reached 17.2 million USD, up 69.4% over the same period last year. It’s forecasted that Vietnam’s pangasius exports will increase sharply in the first half of this year.

Canada is the second-largest export market in the CPTPP market of Vietnam’s pangasius enterprise. This is a potential market for Vietnam’s pangasius in the CPTPP market. Canada has intimate trade relationships with the United States and China on marine seafood products. However, in the past 3 years, Canadian seafood importers have found farmed seafood, including pangasius and tilapia.

Up to now, many Vietnam’pangasius enterprises have paid attention to the Canadian market. In the past 2 years, Vietnam’s pangasius exports to Canada have slowed down due to the impacts of the covid-19, but in the first quarter of this year, Vietnam’s pangasius exports to this market have more positive signs.

Read more: Vietnam’s pangasius exports increased by nearly 90% in the first quarter, 2022

Currently, Vietnamese pangasius products are gradually taking up the market share of white fish products in Canada. Canada imports a wide range of pangasius products such as frozen pangasius fillet, frozen pangasius cut/slice/piece, dried pangasius bubble, butterfly-cut whole pangasius, pangasius, etc.

Due to its close distance and trade relationships, the United States remains the most influential market for Canada’s seafood trade. Therefore, both Canada’s seafood exports and imports can be affected by fluctuations in the US economy as well as changes in consumer demand and US seafood trade policies.

In 2022, pangasius exports to the US market are forecasted to be optimistic, this trend is similar to exports to Canada. Therefore, Vietnamese pangasius businesses need to take advantage of this opportunity to export to Canada – the potential market in North America.

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By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: Vasep)

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