Pangasius exports are much better than expected

The US-China trade war caused many pangasius businesses to see an opportunity to boost exports to the US. In August 2018 alone, the value of tra fish exports to the US reached 65.9 million, up 256% compared to the same period in 2017.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of the end of August 2018, pangasius exports reached 1.41 billion USD, up 21.7% over the same period last year. Thanks to the positive growth of export value to some big markets like China – Hong Kong, America, EU, ASEAN, UAE and Colombia, the total export of this product exceeded the forecast.

China and the United States are the two largest export markets of Vietnamese pangasius for at least 3 years and regularly swap oil market positions. In the past 2 years, the value of pangasius export to China market has grown dramatically, many pangasius exporters have flocked to this market. As a result, China replaced the US in the No. 1 position in the top 10 Vietnamese pangasius export markets.In the first 8 months of this year, the export value to China – Hong Kong market reached 332.5 million USD, up 34.4% over the same period last year and accounting for 23.5% of total exports. However, since June 2018, the export speed to this market tends to decrease. The US-China trade war caused many pangasius businesses to see an opportunity to boost exports to the US.

For the US market, although as of the end of August 2018, the value of pangasius export to this market reached 321.2 million USD, up 34.2% over the same period last year, being a major export market. 2nd (after China – Hong Kong). However, maybe in the fourth quarter with better export growth, the US returned to the leading position. Also from 6/2018, when pangasius enterprises reduced their attention to the Chinese market, the value of pangasius export to the US increased with an average export value of 50-66 million USD / month. In August 2018 alone, the value of tra fish exports to the US reached 65.9 million, up 256% compared to the same period in 2017.

With the EU market, VASEP said, there is a remarkable overlap, since June 2018, the value of pangasius exports to the EU started to increase gradually with the average monthly export value from 21-25 million dollars. This is a good signal after 3 consecutive years of exporting pangasius to this market does not seem to find the “way out”.

After being badly smeared with images in some major export markets in Europe, the value of pangasius export to this market dropped sharply, most recently the gloomy consumption atmosphere covered the whole year of 2017. by the end of August 2018, only the value of exports to the UK market decreased by 5.5% compared to the same period last year, 3 other big single markets in the region were the Netherlands, the export value increased by 37%; Germany increased by 0.5% and Italy increased by 75.5%. VASEP predicts that this positive growth will continue until the end of 2018. In the first 8 months of this year, the total value of pangasius exports to EU reached 160.1 million USD, up 15.4% over the same period. last year period.

With ASEAN market, it can be said, in 2018, pangasius export to ASEAN market is stable and even quite good. As of the end of August 2018, the total export value reached 129.3 million USD, up 41.9% over the same period in 2017. Of which, 3 largest export markets of ASEAN are Thailand, Singapore and Philippines. export value grew strongly by 43.6%; 26.7% and 43.6% over the same period last year. In particular, this year, the export value to two potential markets in the ASEAN market is Singapore and the Philippines increased continuously.