Pangasius exports likely to rake in US$2.6 billion this year
With strong recovery momentum, Vietnam's tra fish (pangasius) exports are anticipated to hit US$2.6 billion this year, according to details given by the Vietnam Association of Seafood Exporters and Producers (VASEP).
This figure represents a rise of 62.5% compared to the target of US$1.6 billion set at the beginning of the year.
During the opening five months of the year, pangasius export turnover surged 90% to reach US$1.2 billion against the same period from last year.
China remains the nation’s largest pangasius export market with a turnover of US$317 million, thereby representing a rise of 124% on-year and accounting for 26.5% of total pangasius export turnover.
Despite supply chain disruptions caused by the COVID-19 pandemic in China, pangasius exports to Hong Kong (China) continued to witness three-digit growth.
Furthermore, the export price of pangasius fillets to China ranged between US$3.15 and US$3.25 per kilo, marking an increase of US$0.5 per kilo compared to the same period last year.
Currently, the nation boasts nearly 100 Vietnamese enterprises which are exporting pangasius products to Hong Kong (China) market.
Moreover, the United States made up the second largest consumer of Vietnamese pangasius during the five-month period with turnover reaching US$310 million, an increase of 131% against the same period from last year, duly accounting for some 26% of total pangasius export turnover.
Most notably, the Food Safety and Inspection Services (FSIS) under the United States Department of Agriculture recently recognised six more Vietnamese pangasius processing factories which are eligible to export products to the US, a move which raises the number of establishments to 19.
Aside from strong exports to both Hong Kong (China) and the US, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) bloc remains a major export market for Vietnamese pangasius.
In line with this, pangasius exports to the CPTPP bloc throughout the opening five months of the year surged by 64% to reach US$146.5 million on-year, accounting for 12% of total pangasius export turnover.
Moving forward, the VASEP forecasts that frozen pangasius exports to this market in the second quarter will rise by over 35% to US$110 million compared to the previous quarter.