400 Vietnamese businesses speed up the sale of a fish species to China, earning nearly 700 million USD

Published 2022년 11월 6일

Tridge summary

Vietnam's pangasius exports to China have seen a dramatic increase of 80% in foreign currency earnings compared to the same period in 2021, amounting to nearly 2.2 billion USD, with China being the largest market for Vietnamese pangasius since 2020. The exports primarily consist of frozen pangasius fillets, accounting for 75% of the exports in October. Despite challenges such as China's zero-COVID policies and the Russia-Ukraine conflict, the demand for Vietnamese seafood, especially pangasius, in the Chinese market remains strong. Relaxed Covid testing regulations for imported goods from July 2022 also facilitate smoother trade, indicating a positive outlook for the export of Vietnamese pangasius to China in the future.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics of the General Department of Customs, by the end of October 2022, pangasius exports earned nearly 2.2 billion USD in foreign currency, an increase of 80% over the same period in 2021, of which the Chinese market alone accounted for 30% with about 654 million USD, up 110%. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), from 2020 to now, China has maintained its position as the No. 1 pangasius import market of Vietnam, surpassing the US market. Compared to the import markets of Vietnamese pangasius, China has always maintained the highest growth, with sales increasing by more than 2 times over the same period last year. Currently, Vietnam has more than 400 enterprises exporting pangasius to the Chinese market. The leading enterprises in this market include Vinh Hoan Joint Stock Company accounting for over 16% of pangasius turnover to China, East Sea Company Limited accounting for nearly 6%, Van Duc Tien Giang Import-Export ...

Source: Danviet