As of mid-October, pangasius exports reached more than 2 billion USD, up 81% over the same period last year.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), this is the strongest growth among the seafood export industry groups of Vietnam this year. By the end of October, it is estimated that pangasius exports will bring in $2.2 billion.
Two markets with a large market share with Vietnam's pangasius exports are China accounting for 30%, the US accounting for 23%.
According to statistics from the US Department of Agriculture, in the first nine months of this year, the country imported more than 104,000 tons of frozen pangasius fillets, worth over $445 million, up 24% in volume and 91% in value over the same period. last year. The average price of frozen pangasius fillets into the US market in the first nine months of this year was $4.26 per kg, up 53% over the same period in 2021.
With the Chinese market, the "Zero Covid" policy makes the country lack of food and seafood. Therefore, in 10 months, the total export of Vietnamese pangasius to this market reached 647 million USD, up 110% over the same period last year.
In addition to the two large markets above, Vietnam also sharply increased pangasius exports to CPTPP markets and some Asian countries, taking advantage of tariffs and geographical factors.
At the end of September, Vietnam had more than 400 enterprises participating in exporting pangasius. Most of the enterprises saw a growth in sales compared to the same period last year, mainly thanks to high export prices. With the results achieved until October, it is expected that for the whole year, pangasius exports will reach over $2.5 billion, up 58% compared to 2021.
Recently, Chinese President Xi Jinping said that without immediately easing the "Zero Covid" policy, trade between countries with China cannot recover as before the pandemic. However, this will be an opportunity for Vietnamese pangasius exports to take advantage of its favorable price and geographical location.
A good signal in the US market is that the Department of Commerce (DOC) has issued the final results of the 18th anti-dumping tax administration review (POR18). Accordingly, the DOC has kept the anti-dumping tax rate applied to each company based on the results of POR17. Therefore, this decision does not affect the trend of pangasius exports to the US this year.
Currently, pangasius exports account for 27% of the industry's export value and may increase further this year.