No longer as gloomy as the first months of the year when major export markets all decreased sharply, causing a large amount of fish inventory, Mr. Ong Hang Van - Deputy General Director of Truong Giang Seafood Company - said that pangasius exports have shown positive signs. Accordingly, in June and July, the amount of pangasius exported by the enterprise was on the rise again. This is a sign that the market will recover in the remaining months of this year and 2024. At a recent forum on pangasius exports, Mr. Huynh Duc Trung, Director of Vinh Hoan Joint Stock Company, also shared that the major export markets of this enterprise have recorded positive growth again. Specifically, exports to the EU market in July increased by 22% compared to July 2022, to China increased by 13% and to the remaining markets increased by 20%.
According to statistics from the General Department of Customs, Vietnam's pangasius exports in the first 7 months of 2023 reached 1 billion USD, down 37% compared to the same period last year. However, the rate of decrease is gradually decreasing, showing that the market is recovering. Specifically, pangasius exports decreased by 61% in January 2023, from February to June they decreased by 9%, 32%, 52%, 35% and 33% respectively. By July, exports of this type of fish decreased by 23%. This is the second month recording the lowest decrease since the beginning of the year (February decreased by 9%). Regarding the market in the first 7 months of 2023, among the top 5 countries importing the most pangasius from Vietnam, only the UK recorded an increase of 1% compared to the same period last year. The markets of China, the US, Brazil, and Mexico decreased by 32%, 60%, 16% and 50% respectively. The decline in the Chinese, US and Brazilian markets was all milder than in the first 6 months of this year. The two key markets recovered well. Talking to PV. VietNamNet, Mr. Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), acknowledged that pangasius exports have not yet seen positive growth compared to the same period but are showing signs of good recovery.
It is worth noting that the last months of the year are called the "golden season" of the Vietnamese seafood industry, including pangasius. Because this is the biggest holiday season of the year, the demand for shrimp and fish products increases sharply. Therefore, importers have to buy large quantities of goods to meet market demand. In Vietnam's largest pangasius export market, China, the decline is gradually decreasing, from minus 65% in January compared to the same period, minus 30% in May and down to minus 7% in July 2023. This opens up the expectation that pangasius exports to the market of more than 1.4 billion people will recover in the last months of the year. Similarly, the inventory of the US - the second largest customer of Vietnamese pangasius - has been depleted. They are forced to increase imports in the coming time. In addition, the supply of tilapia fillets in China and the US has decreased sharply, there may be a significant shortage for orders before Tet. According to Mr. Hoe, this is also an opportunity for Vietnamese pangasius to increase its market share in these key markets. Because when there is a shortage, importers will have to find alternative sources of goods at equivalent prices. Recently, seeing a positive signal from the export market, the Ministry of Agriculture and Rural Development has issued an official dispatch requesting localities to strengthen aquaculture guidance in the last months of the year to meet enough aquatic raw materials for processing and export.

Pangasius is expected to earn nearly 1.8 billion USD this year (Photo: Minh Dung)

According to VASEP's calculations, if pangasius exports go well, they could reach nearly 1.8 billion USD in 2023, down about 0.5 billion USD compared to the target set at the beginning of the year. Mr. Willemink Arno, Director of Operations at De Heus Vietnam, pointed out three main important factors that will affect pangasius consumption in the coming time, including sustainability, transparency and traceability. This trend will take place in both the US and EU markets. Pangasius production in Vietnam is currently about 2.5 million tons/year. With low prices, pangasius is gradually replacing naturally exploited white fish (when the exploitation output is stable, not increasing over the years). According to him, the consumption of white fish, including Vietnamese pangasius, in the world is quite high, especially in high-income countries like the US (about 22 kg/person/year). In low- and middle-income countries with lower white fish consumption, there is still a lot of room for Vietnamese pangasius in these markets. With positive signals from the US and Chinese markets, businesses have prepared for the year-end acceleration, said Mr. Willemink Arno.

Vietnamnet.vn