Vietnam's pangasius orders prosper, expected to reach a turnover of nearly 1.8 billion USD
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Published Aug 25, 2023
Vietnam's pangasius exports have decreased by 28% in the first half of July compared to the same period last year. However, key markets such as China, Hong Kong, and the US are showing more positive signals. If conditions continue to improve, pangasius exports could reach 1.77 billion USD this year, down from the original estimate of 2.3 billion USD. Despite the challenges faced in the first half of the year, orders are improving in the third quarter, and there is expectation for a better performance in the last months of the year.
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Exports will reach 1.77 billion USD According to statistics of Vietnam Customs, by the end of July 15, 2023, Vietnam's pangasius exports to markets reached US$942 million, down 28% over the same period last year. In the first half of July, pangasius exports reached $70 million, down 28% over the same period. It is estimated that pangasius exports in the first 7 months of this year reached about 1 billion USD. Notably, key markets such as China, Hong Kong and the US are showing more positive signals. If under an optimistic scenario, the market progresses smoothly, farmers have good capital, and producers continue to stand firm, pangasius exports this year could reach 1.77 billion USD, down more than 0.5 billion USD compared to the original estimate of 2.3 billion USD. By the end of July 15, 2023, pangasius exports to China and Hong Kong accounted for 32% of the share, with a turnover of 301 million USD, down 33% compared to the same period in 2022. In the first half of July, ...