Vietnam's pangasius exports to China report growth
Vietnam reported a remarkable year on year growth in the exports of pangasius to China - Hong Kong of 42.7% at the end of September 2017, reaching US$288.1 million and, according to VASEP," the continuous growth shows the shift of a large number of pangasius exporters to this market."
Meanwhile, many pangasius exporters shifted their shipments toward China after some technical barriers appeared in the trade to the US and the EU. In the third trimester of 2017, the average export value to this market stayed relatively stable, ranging from US$34-41 million per month. By the end of 2017, Vietnam’s pangasius exports to China and Hong Kong forecasted to keep the double-digit growth compared to 2016.
Pangasius exports to the US were down by 9.9% in the first 9 months of 2017 compared to the similar period from 2016, reaching only US$258.3 million.
"The US Department of Agriculture (USDA) has decided to check all shipments of pangasius imported from Vietnam as of 2nd August 2017, and in the preliminary decision of POR13, the US Department of Commerce announced the tariff of US$2.39/kg, which is three times higher than that in the 12th administrative review period. In August and September 2017, Vietnam’s pangasius exports to the U.S decreased by 54.6% and 41.2% over the same period of 2016," VASEP announced in a statement.
Vietnam’s pangasius shipments to the EU in August and September 2017 continued to decrease by 8.4% and 23.7%, respectively compared to the same period in 2016. The average export value in the 3 months of QIII/2017 ranged from US$15-19.4 million. Currently, Vietnam’s pangasius products had to strongly compete with whitefish products in the EU.
Brazil, Mexico, Colombia and Saudi Arabia
In the period, sales to these 4 markets offset the decline in exports to the U.S and the EU.
Brazil stayed as a big pontential market. Particularly in September 2017, Vietnam’s pangasius exports to Brazil hit US$6.73 million, up 103.3% over the same period last year. The figure in Jan-Sep 2017 totaled US$77.1 million, up 66.7% year on year. Exports to this market witnessed the highest growth rate in the first three quarters of this year.
In addition, Vietnam’s pangasius exports to Mexico, Colombia and Saudi Arabia rose by 22.6%; 1.4% and 4% respectively over the same period in 2016.
In 2017, total pangasius exports of Vietnam expected to increase by about 6% compared to 2016 despite difficulties.
Photo Source: Marco Verch/Flickr
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