Vietnam: Pangasius exports are down 41% in the first 4 months of the year

Published 2023년 5월 28일

Tridge summary

The global economy's inflation and slowdown have led to a decrease in seafood consumption demand, impacting the export volume and price of fish, including Vietnam's pangasius exports. Despite being the leading pangasius importers, China and the US markets experienced a significant decrease in imports. The EU, Mexico, Canada, Japan, Brazil, and Thailand markets also saw a double-digit decrease in imports of Vietnamese pangasius, with the exception of Germany, Singapore, and the UK. The Association of Seafood Exporters and Producers (VASEP) is calling for government and stakeholder support to address the challenges faced by the pangasius industry, including high costs, low profits, and a lack of capital.

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

Original content

According to the Association of Seafood Exporters and Producers (VASEP), the world market is still heavily affected by inflation and economic slowdown, causing a decrease in seafood consumption demand, leading to the export volume and price of fish. During this period, Vietnam's pangasius exports decreased and caused Vietnam's pangasius export sales to many markets to be continuously lower than in the same period in 2022. By the end of April 2023, China and the US are the leading importers of Vietnamese pangasius. These two markets also fell deeply. Pangasius exports to China & Hong Kong only reached $183 million, down 39% over the same period last year. The US market also reduced imports of Vietnamese pangasius because the inventory was still high and only reached $86 million, down 64% compared to the same period in 2022. By the end of April 2023, pangasius exports to the EU market reached 60 million USD, down 8% compared to the same period last year, many markets in the bloc ...

Source: Vietstock