November 30, 2011

Amid difficulties in the two remaining months, Vietnam's pangasius fish export revenues are likely to reach US$1.6 billion this year, the Vietnam Association of Seafood Exporters and Processors (VASEP) said.

VASEP said the local pangasius fish exporters maintained a two-digit growth rate in the past 10 months, earning US$1.48 billion, up 29.2% from the last year.

Europe remains Vietnam's largest pangasius fish consumer, making up 30% of total exports.

The US also imported US$261 million worth of this kind of fish in January-October 2011, doubling from the same period last year.

However, pangasius fish exports to Europe are declining as this lucrative market has a high demand for fillets sized between 120-170 grams per piece and 170-220 grams per piece which are scarce in the Mekong Delta.

Due to thin supply of pangasius fish, many processing plants in the Mekong Delta are working at 40-50% of their capacity.

In 2010, Vietnam earned US$1.4 billion from pangasius fish export.