Rise in Vietnam pangasius exports to main markets

( 11-10-2018 - 03:01 PM ) - Views: 55

Until September 2018, the total value of pangasius exports reached US$1.59 billion, with a rise of 22.6% compared to the same period last year. Especially for the 3rd quarter of 2018, pangasius exports to major markets witnessed positive changes.

China – Hongkong

In the first quarter of this year, pangasius exports to China - Hong Kong remained positive although the pace was slower than last year. Export value reached US$376.8 million, up 30.8% over the same period in 2017. This is still the largest export market of Vietnamese pangasius exporters, accounting for 23.6% of total export value of pangasius. In the first quarter of this year, pangasius exports to this market were better than the last two quarters of the year with monthly average export value from US$41-55 million. From now until the end of the year, pangasius exports to China - Hong Kong is forecasted to grow steadily but not increase more than 10% over the same period last year.

The US

This year, pangasius exports to the US is more optimistic than last year, as since the beginning of quarter III/2018, exports of pangasius to this market increased sharply. In September, the pangasius exports to the US reached nearly US$48 million, indicating an upward percentage of 152.5% over the same period of 2017. Before that, in August, the pangasius exports to this market reached the recordlevel which exceeded that of China – Hongkonghaving reached US$65.9 million, an increase of 256 percent over the same period last year. By the end of September, the pangasius exports to the US accumulated to US$369.1 million, an increase of 42.9% over the same period of 2017. It is forecasted that in the fourth quarter of 2018, exports to the US would continue to rise thanks to stable demand, good export price.

EU

Despite not being extremely stable and having yet reached the pace of previous years, in 2018, pangasius exports to the EU had positive signs after years of continuously experiencing below negative growth. Compared with the previous year - 2017, pangasius exports to the EU is considered to have various unexpected changes. By the end of September, the value of pangasius exports to the market reached 176.4 million USD, increasing by 14.6% over the same period last year. In particular, exports to the Netherlands increased by 31.6%; to Germany by 0.4%; to Italy by 65.9%; however there was a fall of 6.8% for the UK market over the same period in 2017. This growth rate of over 14% has been a positive signal for pangasius exports to EU for at least 3 recent years. It is forecasted that, from now until the end 2018, this growth would continue.

ASEAN

This is the fourth largest export market of Vietnamese pangasius in the first three quarters of this year. Export value reached US$145.5 million by the end of September 2015, rising by 44% over the same period in 2017. It is worth noting that in the third quarter of the third quarter 2018, pangasius exportsto two markets is Thailand and the Philippines increased sharply from the previous year. In September, pangasius exports to Thailand increased by 116.9%; to the Phillipines by 64.5% and to Singapore by 8.2%. By the end of September 2018, the value of pangasius exports to all three markets had grown at double -digit rates over the same period last year.

Source: VASEP

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