Vietnam: Why is pangasius exports to the EU still gloomy?

Published 2021년 6월 18일

Tridge summary

Vietnamese pangasius exports have seen a significant surge in the first five months of 2021, with a 12% increase in export turnover amounting to 623 million USD, largely due to a 26% increase in May. This growth is primarily driven by the US, China, and European markets, with the US market experiencing a 200% increase in May, contributing 33 million USD. Despite this growth, pangasius exports to the EU have seen a decrease, with the Netherlands, Spain, Germany, and Belgium markets experiencing significant drops. Factors such as the COVID-19 pandemic, distance measures, and high sea freight costs have impacted the EU market. Bangladesh and China are emerging as competitors in the pangasius market. The export dynamics of pangasius and shrimp are largely dependent on market fluctuations, with the US market showing promising growth.

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

Original content

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first months of 2021, pangasius exports of Vietnamese enterprises are recovering higher than expected, with an increase of 26% to reach 134 million USD in in May, after increasing by 25.8 million USD to reach 145 million USD in April. In general, the export turnover of pangasius in the first 5 months of the year reached 623 million USD, up 12%. According to the analysis of VASEP, pangasius exports recovered thanks to the main markets of the US, China, and Europe, which increased their purchases again. In particular, the US market had the strongest increase thanks to the widely vaccinated Covid-19 vaccine, and importers increased their purchases to serve the reopening of food services. Pangasius exports to the US market in May 2021 made a breakthrough with an increase of about 200%, reaching 33 million USD, bringing the export result of the first 5 months of 2021 to 135 million USD, up 57% over ...

Source: Vinanet