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October pangasius fish exports lowest this year as demand dips

By Dy Tung   November 15, 2022 | 08:17 pm PT
October pangasius fish exports lowest this year as demand dips
Workers make fillets of catfish at a factory in the southern city of Can Tho, Vietnam, July 7, 2017. Photo by Reuters/Kham
Pangasius fish export has weakened since the third quarter and reached its lowest monthly value this year to $159 million in October.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), total pangasius fish export turnover in the first 10 months of the year was $2.1 billion, up 75% year-on-year.

"Pangasius fish demand has gradually decreased over months, especially in the U.S., the European Union and the U.K.; and even among members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership," the association said.

Pangasius fish exports to the U.S. market in October fetched revenues of $32 million, down nearly 25%. Since July, the average monthly expert turnover to the U.S. was $32-33 million, compared with $81 million in April.

According to the SSI Securities Corporation, the average price of Vietnamese pangasius fish exported to the U.S. remained almost unchanged at $5 per kilogram in the third quarter, but the export volume decreased due to high inflation and stockpiling by importers.

Pangasius fish shipments to China, which accounts for 30% of Vietnam’s total exports of this fish, are expected to increase in the coming time, VASEP said.

It pointed out that the export turnover to mainland China and Hong Kong rose 23% and 123% year-on-year, respectively.

Vietnam is likely to earn $2.45-2.5 billion from pangasius fish exports this year, up 54% over last year, VASEP estimates.

 
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