Vietnam’s pangasius exports are expected to grow after the second quarter of 2023

Published 2023년 5월 8일

Tridge summary

The article provides an overview of the current state of Vietnamese pangasius exports, focusing on the significant decline in imports by China and the US by 22% and 64% respectively. Despite challenges such as global food inflation and high inventories, the pangasius market has shown some positive signs, with increases in exports to China and the EU, particularly in Germany. However, the first quarter of 2023 witnessed a overall decrease in exports, with the EU market reaching $45 million, down by 4% from the previous year. High-ranking pangasius exporters have experienced negative growth, reflecting industry-wide challenges including inflation, high inventories, and raw material availability. The author anticipates a potential recovery of the pangasius export market in the latter half of 2023, attributed to trade promotion efforts.

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

Original content

The two largest markets of this product, China and the US, both reduced imports by 22% and 64%, respectively. After a deep decline in January 2023, pangasius exports to China increased by 26% in February 2023, partly showing a positive signal in this market. Exports to the US market have not recovered while exports to the EU also had a more positive signal thanks to the German market doubling imports of Vietnamese pangasius. Many other markets also suffered a drop of 12-61%. Global food inflation along with high inventories has caused a fall in demand and import prices, which has negatively affected export sales of Vietnamese pangasius in many major markets. In the first quarter of 2023, pangasius exports to the EU market reached 45 million USD, down 4% compared to the same period last year (46.7 million USD). Most markets in the EU increased imports of Vietnamese pangasius, of which many markets recorded double-digit growth, namely Romania (36%), Sweden (53%), Denmark (34%), ...

Source: Vasep