Pangasius exports of Vietnam: Two polar opposites between the US and China markets

Published 2021년 11월 25일

Tridge summary

Vietnamese pangasius exports experienced a decline in October, with a 20% decrease compared to the same period in 2020, totaling $136 million. Despite this, the year-to-date export value remained steady at $1.2 billion. The US has emerged as a bright spot, with pangasius exports to the country doubling in September to $42 million, the highest of the top 10 importers. In contrast, exports to China-Hong Kong have decreased by 61% in October. Due to trade barriers and the COVID-19 epidemic, the value of pangasius exports to China-Hong Kong has decreased by 27% year-to-date. Vietnamese seafood enterprises are seeking growth in markets like the CPTPP, Thailand, and Russia, with mixed results. The COVID-19 epidemic has caused disruptions in pangasius supply chains and production, leading to heavy losses and affecting production and export activities. The vaccination of seafood processing enterprises' workers is seen as a key solution to restore production and stabilize workers' psychology.

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

Original content

Two extremes of exporting pangasius According to the Association of Seafood Exporters and Producers (VASEP) in October, the export value of pangasius reached 136 million USD, down 20% over the same period in 2020. By the end of October, Vietnam's total pangasius export value reached 1.2 billion USD, equivalent to the same period last year. In which, export processed pangasius products decreased by more than 50%. Notably, the US is the brightest part in the picture of Vietnamese pangasius exports this year. In October alone, the export value of pangasius to the US reached 42 million USD, the highest level in the top 10 pangasius import markets of Vietnam and doubled compared to September. Accumulating 10 months, the total export value of pangasius to this market reached 290 million USD, up 47% over the same period last year. In the bright scenario, pangasius exports to the US still maintain a good performance in the fourth quarter, the US is likely to return to the position of the ...

Source: Vietnambiz