China Is Still a Potential Destination for Many Vietnamese Pangasius Businesses

The zero Covid policy with prolonged restrictions has weakened the Chinese seafood market. Demand for seafood and seafood prices in the market both decreased. However, suppliers said that China is still a potential destination for many Vietnamese pangasius enterprises, and they are looking forward to China opening the border again. According to the Association of Seafood Exporters and Producers (VASEP), after continuously growing strongly in the first ten months of 2022, pangasius exports to China suddenly plummeted in November when it decreased by 46%, reaching just over USD 37M. By the end of November 2022, pangasius exports to China reached USD 636M, up 81% over the same period in 2021. While exports to Hong Kong reached nearly USD 38M, up 46%. Particularly, frozen pangasius fillets with HS code 0304 exported to China reached USD 472M, accounting for 74% of pangasius export value to this market.