VASEP: Pangasius exports to Brazil set to recover this year
The association's outlook for 2018 is positive, although in the first five months of this year, Vietnamese pangasius exports were down 31.9% from the same period last year, reaching a total value of $34.1 million.
Still, from 2008 to 2017, Vietnam has reported a continuous growth for its pangasius exports to Brazil in terms of turnover, but it fluctuated from $114.8 thousand in 2008 to $104.7 million last year.
"In 2012, sales to Brazil only accounted for 4.3% of Vietnam's pangasius export volume and held as the 6th rank. But in 2013, those to Brazil picked up 6.7% of Vietnam's pangasius export turnover and ranked the 4th behind the US, the EU and ASEAN. While pangasius exports to big markets faced difficulties, exports to Brazil in 2013 recorded the good growth," VASEP's analysis read.
Furthermore, Vietnam exported pangasius worth $104.7 million to Brazil in 2017, up 54% over the previoys year. VASEP says that this was considered as a potential market of Vietnam with the highest growth in the year.
Although, in the first half of 2018, pangasius exports to Brazil declined, however, VASEP explains that with low level glazing and high quality, pangasius products remain popular to Brazilian customers.
Therefore, VASEP expects Brazil to be a potential market with the good growth in the last months of the year.
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