UK A BRIGHT SPOT FOR VIETNAMESE PANGASIUS EXPORTS
UK a bright spot for Vietnamese pangasius exports
By the end of August 2020, the total export value of pangasius reached US$913.4 million, down nearly 30% over the same period in 2019, according to the Vietnam Association of Seafood Exporters and Producers.
In particular, the value of exports to most major markets went down, except for the UK market, which lifted by 23.8% over the same period in 2019.
Vietnamese pangasius export experienced a hardship time along with the COVID-19, the export value to many major markets has been still recording the negative growth. The UK was the most prominent market in the picture of pangasius export in the first 8 months of 2020.
The UK: The UK is the most prominent market in the picture of pangasius export in 2020. The impact of disease causes the export value of many markets to decrease, but the UK still grows positively. Moreover, the export price of frozen pangasius fillets (HS 030462) to this market in the first 8 months of 2020 was much better than many other major exporters, in which, the highest in May 2020, the average export price of frozen pangasius fillets reached from 3.6 to 3.65 USD/kg. By the end of August 2020, the total export value of pangasius to the UK reached 46.75 million USD, up 23.8%. In which, in August alone, the export value hiked by 56.3% over the same period in 2019.
China – Hongkong: In the first 8 months of 2020, the total export value of pangasius to this largest market reached US$295.8 million, down 24% over the same period in 2019. Although the total export value to China – Hong Kong market declined, it can be said that the number of enterprises exports to this market was still relatively large. Pangasius export value to China – Hong Kong was still nearly equal to the total export value to three other major markets, the US, ASEAN, and the EU, accounting for 32.4% of total exports to nearly 130 markets. The move to actively reduce the import of Chinese seafood, including pangasius products from the first months of this year, has made the export value to this market unable to increase again.
The US: By the end of August 2020, the total export value of pangasius to the US reached US$154.5 million, down 17.8% over the same period in 2019. Currently, the US was still the second largest export market (after China – Hong Kong). Although the total export value to this market still slid in the last two months, the export value to the US started to increase again: in July 2020, export value up by 4.4% and that hiked 2.4% in August over the same period in 2019. This signal boosts hope for pangasius enterprises exports to the US in the last quarter of the year.
ASEAN: In the first 8 months of 2020, the total export value of pangasius to ASEAN reached 91.3 million USD, down 30.3% over the same period in 2019. In which, the two major export markets, Thailand, decreased by 28.6%; Malaysia diminished by nearly 26%, while exports to Singapore were similar to the same period last year. Contrary to VASEP’s forecasts about the growth of pangasius exports to this potential market in 2020, the COVID-19 pandemic has upset pangasius exports to ASEAN markets for many months. The export value in many months decreased deeply, so it is expected that the total export value of pangasius to this market in 2020 will decrease by more than 20% compared to the same period in 2019.