(HQ Online) - According to Vietnam Customs data, pangasius exports in October 2023 reached nearly 173 million USD, down 4% compared to the same period last year. It is expected that this year, Vietnam will earn about 1.8 billion USD from this item.
The reduction is increasingly narrowing
According to statistics, in October 2023, pangasius exports recorded positive growth in markets such as China and Hong Kong, Mexico, Canada, EU, etc. In particular, some South American and European markets Asia is considered potential, such as: Brazil, China, and Thailand with growth rates all reaching double digits.
In October 2023, exports of live, fresh, frozen, and dried pangasius products reached the highest value since the beginning of 2023, with more than 31 million USD, an increase of 35%, accounting for 18% proportion compared to the same period last year. . However, the main export product is still pangasius fillets with sales reaching 139 million USD, a slight decrease of 9% in October 2023, accounting for 80% proportion. In addition, exports of other processed products reached more than 2 million USD, down 24% compared to the same period in 2022.
According to Mr. Duong Nghia Quoc, Chairman of the Vietnam Pangasius Association, as a key export product, Vietnamese pangasius is currently present in more than 150 countries and territories. Main markets include: US, EU, China, ASEAN, South America, etc. In terms of current export market structure, the proportion has changed, the trend has shifted to the Chinese market, from 11% in 2015, to in 2022 about 29%; The EU market decreased again, in 2015 the proportion reached 18%, but in 2022 this number decreased to about 9%; The US market is relatively stable, accounting for about 20% on average.
According to analytical data of the Vietnam Association of Seafood Exporters and Producers (VASEP), in October 2023, China and Hong Kong continue to be the leading markets for importing Vietnamese pangasius and recorded an increase. Positive growth with value equivalent to the previous month of 56 million USD, an increase of 15% compared to the same period last year. By the end of October 2023, pangasius exports to this market decreased by 23%, reaching more than 490 million USD.
According to businesses, demand for pangasius in China has decreased significantly since the beginning of 2023, however, sales of breaded pangasius fillets are showing better signs in this market, businesses will focus on for deeply processed products when exported to the Chinese market.
Positive signals from the market
Along with China, the US is also in the top markets consuming the most Vietnamese pangasius, but the export results to this market this year are not positive, because turnover decreased by more than half. Specifically, pangasius export turnover to this market in October 2023 reached more than 21 million USD, down from nearly 23 million USD the previous month and down 43% compared to the same period last year. By the end of October 2023, cumulative pangasius exports to this market recorded a decrease of more than half compared to the same period in 2022, and only reached 228 million USD.
Currently, the US market has shown signs of improving consumer demand, the company's product inventory ratio at distributors and retailers in the US has decreased to the average level. Along with that, the consumer confidence index continues to improve. These factors, along with the year-end holiday season, can stimulate businesses here to increase inventory accumulation, which will be an opportunity for seafood exports in general, as well as Vietnamese pangasius products. Male.
Along with positive signals from the US market, the EU has also increased imports of Vietnamese pangasius from September 2023 and maintained a stable increase in October of 10% with a value of nearly 15 million USD. By the end of October 2023, the EU imported 144 million USD of Vietnamese pangasius, down 17% compared to the same period last year.
In the EU, Germany is still the bright spot of this market when Vietnamese pangasius exports to here increased by 44% compared to the first 10 months of 2022. In October 2023 alone, Europe's largest economy increased imports by 2 times. .5 times pangasius products. Besides Germany, in October 2023, most of the main markets importing Vietnamese pangasius in the EU recorded a decrease such as the Netherlands (down 27%), Belgium (down 35%), Spain (down 7%), ... Demand for Vietnamese pangasius in the EU gradually increases again due to preparations for the year-end festive season. The EU is expected to be a bright spot for exports in the last months of this year when it is considered to have a more stable economy compared to other key markets.
The CPTPP market segment has positive growth for the first time after many months of reducing pangasius imports from Vietnam, with the value in October 2023 reaching 23 million USD, a slight increase of 4% compared to the same period last year.
Signs of recovery and slight growth in the first month of the fourth quarter of this year are expected to maintain and increase in the last 2 months of 2023. However, according to VASEP's recommendations, businesses should also seek to exploit Add other potential markets in South America and Asia, in addition to the US and China, and promote the export of more products other than frozen fillets to maintain the initiative.
With Vietnam's pangasius export turnover in the first 10 months of 2023 reaching more than 1.5 billion USD, down 29% compared to the same period in 2022, from the above signals, VASEP forecasts that this year Vietnam will earn about nearly 1 billion USD. 8 billion USD from this key export product.
SOURCE: ONLINE CUSTOMS
