Vietnam: Pangasius exports recover strongly

The pangasius export market in Vietnam has experienced a significant surge, with a 8.9% increase in value compared to the same period in 2020, totaling US$489.4 million by the end of April 2021. This growth is largely due to the recovery in traditional markets like the US, China, and Europe, as well as the emergence of Brazil and Thailand as promising new markets. In April, exports to Brazil and Thailand increased by 687% and 47% respectively compared to the previous year. However, the pangasius industry faces challenges such as rising input costs and pressure to reduce prices from customers. Additionally, there are concerns about raw material shortages due to the long fish farming cycle. Despite these challenges, pangasius processing enterprises are actively purchasing raw materials and exploring new products for export, including value-added items. Prices for raw pangasius in the Mekong Delta have increased slightly, but farmers are still facing losses due to high feed costs.