VIETNAMESE PANGASIUS EXPORTS TO UK INCREASE
Vietnamese pangasius exports to UK increase. In the first 6 months of 2020, amid the Covid-19 outbreak, the total value of pangasius exports to the UK market still increased by 7.3%. It seems that Vietnam’s pangasius exports to this market are more positive after the UK left the EU in early 2020 with more socio-economic independence.
While pangasius exports to most major importers were lower due to the COVID-19. Pangasius export value to the UK market reached US$ 31.7 million, accounting for 4.7% of total pangasius export value to nearly 130 markets, up 7.3% over the same period in 2019. It can be said that this was the most positive growth among the top 10 importers of Vietnamese pangasius in the first half of this year. With this export value, the UK surpassed the Netherlands as the most importing country in the region if they were still in the bloc. In the past 5 years, export value to the UK market has always been in the top 5 largest markets in the EU.
In June 2020 alone, the export value of pangasius to the UK market reached US$ 5.7 million, up 15.2% compared to the same period in 2019. Although this is not great growth, in the new context when leaving the EU and between the Covid-19 pandemic upsetting most of the major economies, this is an overwhelming impression.
According to updated statistics of ITC, in the first 5 months of 2020, 91% of the total volume and 90% of the total value of British pangasius imports from Vietnam. In addition to pangasius imports directly from Vietnam, the UK also imports this product through Germany, Indonesia, the Netherlands, and Thailand. However, it can be clearly seen that, in the trend of 2020, the UK has gradually increased the import of frozen pangasius directly from Vietnam instead of imports through some ports or intermediate markets in the EU as in previous years. Previously, the UK also often imported pangasius from some EU countries such as Germany, Denmark, the Netherlands, or Poland.
In the first 5 months of 2020, the imported average price of pangasius of the UK was relatively stable, ranging from US$ 2.98 – US$ 3.98/kg. This is a relatively positive price in the first half of 2020.
If this optimistic export value continues to be stable in the coming quarters, the growth rate of pangasius exports to the UK – the fifth largest importer is likely to increase more than 10% positively this year.