December 1, 2016

Vietnam pangasius exports up 6.2% in first 3 quarters

Vietnamese pangasius exports in the nine months through September grew 6.2% year-on-year to US$1.2 billion. Among the four largest markets, exports to the US, China and Asean rose 23%, 75.6% and 0.03%, respectively, while exports to the EU declined 9.9%, the Vietnam Association of Seafood Exporters and Producers (Vasep) reported.

Meanwhile, according to the latest figures as of October, exports to the US and China showed steady growth in the first 10 months. China-Hong Kong, however, may overtake the US as the leading importer of Vietnamese pangasius if it keeps the current growth rate in 2017 and if technical barriers to pangasius shipments to the US remain in place, Vasep said.

As of October, Vietnamese pangasius exports to the US were valued at $319.8 million, up 22.7% over the same period last year and accounting for 23% of total exports in the first 10 months.

In October alone, exports to the US registered a substantial growth of 19% compared with the same month in 2015.

Through October 2016, Vietnam's pangasius exports to China-Hong Kong totaled $235.5 million, up 76% compared with the same period last year. Exports to this market posted a good growth for two consecutive years. China mainly imports pangasius for processing fast food in restaurants, hotels, canteens, as well as plane flights.

Exports to the EU in January-October reached $217.7 million, down 11.5% from the same period last year. Within the 28-nation bloc, the four largest buyers--the Netherlands, the UK, Spain and Germany—showed year-on-year declines of 11.2%, 1.9%, 15.2% and 5%, respectively.

As of October, Vietnamese pangasius exports to the Asean market reached $112 million, or a mere increase of 0.02% over the same 10-month period last year. Exports to the top three importers in the 10-nation Asian bloc—Thailand, Singapore and the Philippines—remained stable over the same period in 2015.