Vietnam's pangasius exports see optimism
PSNews - The Vietnam Association of Seafood Exporters and Producers (VASEP) has expressed a optimism about the pangasius exports of the country in 2022 after more than 2 years of being heavily affected by COVID-19. However, the higher costs of production, and higher export costs coupled to uncertain demand in key markets, are the main obstacles the industry will face this year.
The country’s export of aquatic products in February of 2022 decreased by 26.9% compared to January of 2022 but increased sharply by 62.5% compared to February of 2021, reaching nearly 637.86 million USD.
The US was Vietnam's largest seafood export market, accounting for 22.9% of the country's total export turnover of this product group, reaching over 345.84 million USD, a sharp increase of 82.8% over the same period of 2021. In February of 2022 alone, the country’s exports of seafood to the U.S reached 146.29 million USD, down by 26.8% compared to January of 2022 but increased sharply by 84.3% compared to February of 2021.
The second place in turnover was the Japanese market, accounting for 13.9%, reaching nearly 208.87 million USD, up by 14.8%. In February of 2022 alone, the country’s exports to this market reached 75.94 million USD, a sharp decrease of 43.3% compared to January of 2022 but an increase of 8.9% compared to February of 2021.
The next was the Chinese market. In February of 2022, the country’s exports of seafood to China increased sharply by 32.5% compared to January of 2022 and increased sharply by 147.8% compared to February of 2021, reaching 82.54 million USD.
In general, in the first 2 months of 2022, the country’s exports of seafood to this market also increased sharply by 102.6% compared to the same period of 2021; reached 144.27 million USD, accounting for 9.6% of the total turnover.
Vietnam’s seafood exports to the EU accounted for 11.3% of the country's total seafood export turnover, reaching over 170.21 million USD, a sharp increase of 65.4%.
Enterprises have quickly grasped market opportunities and promoted the exports of strong aquatic products. The acceleration right from the beginning of the year is expected that seafood exports in 2022 will bring in over 9 billion USD.
