Vietnam: Pangasius exports to EU record unstable growth

Published 2024년 7월 10일

Tridge summary

The EU market's demand for Vietnamese Tra fish (pangasius) imports has been erratic, with a 20% increase in January followed by a reduction in the following months. The lowest value of pangasius exports to the EU was recorded in February, with a 46% annual drop in imports. Despite this, the overall seafood exports to the EU market have seen impressive growth. The Netherlands is the largest importer of Vietnamese pangasius in the EU, but Germany, Spain, and Belgium have also recorded positive growth in imports. Market prices and consumption in the EU are gradually stabilizing, and pangasius exports are expected to increase in the second half of the year.

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

Original content

Despite being one of the main consumers of Vietnamese Tra fish (pangasius) during the first five months of this year, the EU market's demand for pangasius imports proved to be erratic during the reviewed period. After increasing imports of pangasius from the nation by 20% in January, the EU immediately reduced imports in the following two months. In February, the EU imported Tra fish products valued at US$8 million, marking an annual drop of 46%. In March the bloc imported more than 18 million tonnes, down 7% over the same period from last year. One of the reasons behind this decrease in February was due to the Lunar New Year holiday. However, February was also the month which witnessed the lowest value of pangasius exports to this highly lucrative market over the past three years, since the beginning of 2022. Frozen pangasius fillets remain a major Vietnamese product being exported to the EU. During the past five months of this year, the bloc bought US$67 million of frozen ...

Source: WTOCenter