Vietnam: Pangasius exports to the CPTPP bloc have not been able to break through
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Published Jul 6, 2023
Pangasius exports from Vietnam to CPTPP member countries, including Canada and Japan, have significantly declined in May and the first five months of this year. The decline is attributed to global food price inflation and fluctuations in the market, including the impact of inflation in the US market, which has a strong influence on Canada's seafood trade. Singapore is the only bright spot, with a 16% growth rate in pangasius exports due to its strategic location and convenient seaports for international trade.
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Pangasius exports down 35% in May The Association of Seafood Exporters and Producers (VASEP) said that in May, Vietnam's pangasius exports to the markets of CPTPP member countries only reached 19 million USD, down 41% over the same period last year. The main markets in the bloc reduced imports of Vietnamese pangasius by 10% - 65%, except Singapore, which increased by 2%. In the first 5 months of this year, Vietnam's pangasius exports to markets participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) decreased by 36% compared to the same period last year, reaching 94 million VND. USD due to the influence of global food price inflation along with world fluctuations, this market is also "not an exception" of the general decline. (Data: VASEP, Chart: Hoang Anh) In the first 5 months of this year, many CPTPP markets recorded negative growth such as Canada reaching 14 million USD, down 50%; Mexico reached $ 26 million, down 50%; Japan ...