July 13, 2015

Vietnam's pangasius exports decline 9.6% in value in 1st 5 months

Vietnam's seafood exports dropped 17.2% in terms of value to US$2.46 billion during the first five months, and a quarter of this amount was accounted for by pangasius exports, data from the Viet Nam Association of Seafood Entrepreneurs, or Vasep, showed.

Pangasius exports, worth $616.6 million in the period January-May, also decreased in value, by 9.6% year on year, Vasep said, adding that the US was the top importer of the Vietnamese fresh shark catfish. Us imports increased 6.3% and accounted for 21.8% of total exports of the Southeast Asian country's pangasius produce.

No. 2 importer EU purchased Vietnamese pangasius worth $118.9 million between January and May, or 19.3% of total value. The imports, however, represented a 15.6% decline year on year.

The Association of Southeast Asian Nations, or Asean, was the third-biggest importer during the same period, importing the catfish genus valued at $57.9 million, or a 2.7% decrease year on year.

US catfish producers face stiff competition from their counterparts in Vietnam and China, which offer cheaper products.