Prospects for fish exports in the last months of 2023

In 2023, due to fluctuations in the world and declining consumer demand, many major markets have reduced fish imports from Vietnam.

According to the Vietnam Pangasius Association, in the first 3 months of the year, the consumption of pangasius was relatively favorable. However, from the end of the first quarter of 2023 until now, due to difficulties in pangasius exports, the number of export orders is low while processed products are still in stock, leading to relatively slow consumption of pangasius...

Sharing with the press, a representative of a tra fish exporting enterprise in An Giang said that the current difficulty is that both export turnover and selling prices have decreased sharply. The export price of fillets to the US market in the past 9 months has decreased sharply, with an average price of only 2.92 USD/kg (down 44% compared to the same period in 2022). The Chinese market also has an export price of 2.09 - 2.1 USD/kg. These are the two main markets that consume a large amount of tra fish from domestic enterprises.

Despite facing many difficulties, seafood export in general and fish export in particular are also having new opportunities.

According to seafood experts, the Vietnam - EU Free Trade Agreement (EVFTA) that took effect in August 2020 has brought many incentives, created more competitiveness for Vietnamese seafood products, and is an opportunity for Vietnamese businesses to export directly to the European market.

Citing data from the General Department of Customs, VASEP said that after 3 consecutive months of decline, in September 2023, pangasius exports to Germany increased again when this market bought nearly 6 million USD worth of pangasius from Vietnam, 2.5 times higher than the same period last year.

In the first half of October 2023, pangasius exports to Germany reached nearly 2 million USD, nearly double that of the same period in 2022. As of October 15, 2023, this European country consumed more than 30 million USD of Vietnamese pangasius, an increase of 35% over the same period in 2022.

The US Department of Agriculture is currently looking to purchase large quantities of frozen catfish and pangasius fillets for use in domestic food distribution programs. In addition, sales of breaded catfish fillets are showing signs of improvement in the Chinese market.

According to experts, in the last two months of the year, the US market has shown signs of improving consumer demand, which is an opportunity for Vietnam's seafood exports. In addition, the end of the year with major festivals, followed by Lunar New Year in Asia, will help shrimp consumption increase.

Currently, many domestic enterprises are also promoting the implementation of long-term strategies to export pangasius products to the world that are both delicious and have good prices; guaranteed quality, convenient, and environmentally friendly.

The Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that, with market recovery and stable raw material sources, seafood exports will earn over 9 billion USD in 2023.

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