Vietnam’s pangasius exports increased by nearly 90% in the first quarter, 2022
MEKSEA.COM – According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first three months of 2022, Vietnam’s pangasius exports reached 646 million USD, up 88% year on year, accounting for about 27% of total Vietnam’s export revenue.
In the past time, the increase in gasoline prices has affected the input value of the pangasius industry, moreover, with the impact of the Covid-19 epidemic, many farmers hesitated to raise new crops. This has caused a shortage of pangasius raw materials for processing and export, leading to continuous fluctuations in pangasius prices in recent years. Therefore, currently, the price of raw pangasius has increased by 25% compared to the end of last year, hitting a record of about 32,000 VND/kg and in some places, the price of raw pangasius is even higher.
VASEP also forecasts that the shortage of raw materials may last until the end of the second quarter of 2022. Thus, pangasius processing and exporting enterprises are regaining their position in the structure of exported seafood products. The revenue and profit from exporting pangasius of Vietnamese enterprises increased significantly compared to the same period last year.
At the same time, businesses have also prepared pangasius stockpiles for this recovery in market demand, especially in Mexico, Brazil, etc.
Currently, the demand for pangasius is recovering strongly in the main markets, pushing businesses into a situation where production cannot pay orders in time. Pangasius exporters must calculate to increase operating capacity to meet the sharply increased orders this year.
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By Hayati (Meksea Team)
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