Your Fastest Track of Market Prices & News – Meksea Newsweek 21/05/2021
Dear valued customers,
In the first quarter of 2021, the total export value of pangasius reached 344.2 million USD, up 3% over the same period in 2020. In which, the export value to the US, EU, China, Hong Kong, Brazil, Mexico, Thailand, Colombia, Russia and the UAE all rose.
By the end of April 2021, Vietnam seafood exports were estimated at over $2.5 billion, up by 13% over the same period last year.
Growth thanks to stable raw materials and flexible product structure
It can be said that in the context of Covid, shrimp and pangasius are somewhat more advantageous than other seafood items because the available raw materials in the country are more stable, while the difficult seafood raw materials add the requirements on traceability such as loading and unloading minutes, SC, CC paper … make the export door even narrower. However, in that difficulty, some enterprises still emerged from the flexibility of export seafood products when the demand for value added goods, surimi… increased.
Mass vaccination campaigns in some Western countries allow governments to prepare to reopen, while in other parts of the world, like India, the pandemic is still very bad. Spain hopes to host the first two seafood trade fairs in September and October with the aim of reopening for people going holiday abroad from June under the technical health certificate program COVID-19 numbers.
With the above positive situation and good control of the epidemic in all three major markets: EU and US, has promoted policies of “new normal”, although it is not denied that inventories there is still plenty in the EU but importers have returned to place orders and food services are gradually coming back. As restrictions are eased, people will want to go out more, but note that stay-at-home consumption is likely to remain strong, with the US market typically not only recovering but growing during the pandemic.
Basing on the situation, seafood price is expected to increase again in the near future, especially for shrimp and pangasius, so if you have a plan to import goods for the next few months, I think now is the best time to order, and you could contact us to get the best price and keep material source.
What products are you interested in? love to hear your comments.
By Michael (Business Team).