May 26, 2018

China now Vietnam's top pangasius buyer; imports surge 43% in first 4 months

China has surpassed the US as the biggest importer of Vietnamese pangasius as its purchase of the white fish grew 43% to US$145 million in the first four months, the Vietnam Association of Seafood Exporters & Producers said.

VASEP said Vietnam is currently the third-largest provider of white fish for China, after Russia and Norway.

China's demand for white fish is expected to continue growing, which means more room for growth of Vietnamese pangasius exports to this market.

VASEP forecasts that the export turnover of tra fish to the Chinese market will continue to increase in the second quarter.

Meanwhile, exports to traditional markets like the EU and the US are facing difficulties due to high anti-dumping tariffs and technical barriers.

Last year pangasius output hit 1.2 million tonnes, or a year-on-year rise of 5.1%, according to a report of the Directorate of Fisheries. Export turnover of this fish reached US$1.78 billion, up 4.3% from the previous year, accounting for 21% of the fishery industry's total export value.

The export turnover of pangasius this year is expected to reach up to $2.2 billion, making up 31.5% of the fishery industry's total export value.