Vietnam’s pangasius exports to 3 major markets surge in the first half year
MEKSEA.COM – Vietnam’s pangasius exports in the first six months of the year grew in most major markets. The total export value of pangasius reached 1.4 billion USD, up 82.4% over the same period last year.
China – Hong Kong
In the first 6 months of 2022, the total export value of pangasius to the China – Hong Kong market reached USD 427.6 million, up 107% over the same period last year. However, China’s zero covid policy made frozen seafood exports to China difficult in the first 4 months of 2022.
Recently, China decided to remove the policy of banning frozen seafood shipping positive for the covid-19 virus after nearly 2 years of implementation. It will promote Vietnam’s frozen pangasius import and export activities to this market grow more than women in the last quarter of the year.
By the end of June 2022, the total value of pangasius exported to the US reached USD 356.4 million, up 111% over the same period last year, accounting for 25% of the total export value. However, in the past 2 months, the growth of pangasius exports to this market had a negative sign. According to importers, the consumption situation is at the highest level in the past 4 decades. Essentials are getting more and more expensive. In June 2022, food prices increased by 10.4% year-on-year, which is the largest average annual increase since 1981. According to data from IRI and 210 Analytics, the pangasius prices in the US also increased by about approx. 22%. At stores and convenience stores, sales of frozen seafood were negatively affected by rising inflation, but not as seriously as fresh product sales. The US seafood warehouse is still full. Therefore, it is possible that in the next quarter, pangasius imports to the US will grow lower than in previous quarters.
Read more: Vietnam’s seafood exports in May 2022
Place 3rd position in the top of the largest pangasius export markets is the CPTPP market. In the first 6 months of this year, the total export value of pangasius to this market reached USD 180 million, up 66.3% over the same period last year. Among them, notably Mexico. This is the largest import market in the bloc with a value of USD 62.4 million, up 68.5%. In the context of the unstable political situation in the world, the Mexican economy is still affected and has not been able to recover to pre-epidemic levels. However, this is an opportunity for Vietnam’s pangasius because Mexico’s demand for imported seafood with reasonable prices and high nutrition is increasing.
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By Hayati (Meksea Team)
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