ASEAN market is recovering

According to Ms. Ta Ha, pangasius market expert of the Vietnam Association of Seafood Exporters and Producers (VASEP), by the end of October 2021, the total value of pangasius exports to the ASEAN market reached 94.2 million USD, down about 17% over the same period last year. Since the Covid-19 pandemic broke out from the end of 2019 until now, pangasius exports to some potential markets in the region have not yet recovered.

In the first 10 months of this year, the export value of pangasius to the largest market in the ASEAN region, Thailand, still decreased by 6.42% over the same period last year, reaching 43.6 million USD (accounting for 46.2% of the value of the pangasius). of the whole bloc), followed by Singapore, Malaysia and the Philippines.

Before the pandemic, Singapore and Malaysia were two emerging and attractive markets that attracted many Vietnamese pangasius exporters when the demand for imports and consumption was stable and growing strongly.

However, due to the impact of the epidemic in the early stages, in 2020, these two countries were severely affected by Covid-19, making trade activities difficult. However, recently, with efforts to transition from "zero Covid" to "living with Covid", these countries are also cautiously reopening their economies in the context that the whole world is worried about the Omicron variant. Optimistic economists forecast that, from the beginning of 2022, Singapore is the country with the fastest recovery and stability in the region and a good opportunity for businesses to promote exports to this market.

By the end of October 2021, the export value of pangasius to Singapore reached 20.6 million USD, down 29.4%; Exports to Malaysia reached 15.2 million USD, down 41.7% over the same period last year.

While some major pangasius importers in the region decreased, the Philippines and Indonesia are two notable markets this year. In the first 10 months of this year, pangasius exports to the Philippines increased by 33.3%, reaching 14 million USD; Pangasius exports to Indonesia are also growing rapidly.

Both production and translation

By the end of October 2021, the total export value of Vietnamese pangasius reached 1.21 billion USD, equivalent to the same period last year. In which, processed pangasius products for export decreased by more than 50%. In October 2021 alone, the export value of pangasius only reached 136.7 million USD, down 19.7% over the same period in 2020.

In which, many potential markets still fell deeply. For example, pangasius exports to China - Hong Kong market decreased by 27.6%, reaching only $310.2 million in 10 months. In October alone, the export value of pangasius to this market decreased sharply by nearly 61%, reaching 31.35 million USD, lower than the value of pangasius exports to the US by more than 10 million USD.

Despite the decrease in import value compared to the same period last year, so far, China - Hong Kong is still the leading export market of many Vietnamese pangasius enterprises.

With the current situation of strict control of China's imported food and seafood, it is certain that from now to the end of the year, China's imports of white fish, including pangasius, will decrease by up to two fish. number compared to last year.

In this year's picture of pangasius exports, the US is the brightest part. In October alone, the export value of pangasius to the US market nearly doubled compared to the previous month.

In October 2021, the export value of Vietnamese pangasius to the US market reached nearly 42 million USD, the highest level in the top 10 largest pangasius export markets, nearly doubled compared to the previous month. By the end of October 2021, the total export value of pangasius to this market reached US$289.6 million, up 47.2% over the same period last year.

According to Ms. Ta Ha, if the growth rate of pangasius exports to the US market in the fourth quarter is maintained, it is likely that the US will return to its position as the largest pangasius export market of Vietnamese enterprises in the year. now.

Up to now, pangasius export enterprises in the Mekong Delta are still facing the Covid-19 epidemic. This makes all factories focus on disease prevention and production stabilization. High production costs, increased transportation costs, and therefore export prices were also forced to adjust. Therefore, in order to increase exports, businesses need to actively control the epidemic to continue to return to increase exports to neighboring markets, where demand is recovering.

According to Customs Newspaper