[Industry news] ASEAN surpassed the EU to become the third largest importer of Vietnam pangasius
22 March 2018
From Jan to Feb 15, 2018, Vietnam exported USD238.6m worth of pangasius, up 45% yoy. According to some exporters, the export value in upcoming time will grow stronger given the severe shortage of raw material and fingerlings.
Exports to China-Hong Kong, current largest importer of Vietnamese pangasius, spiked by 73% yoy, reaching USD48m. The US, the industry’s second largest market, imported USD39m of pangasius, up 51% yoy. Notably, the export value to ASEAN market hit USD26m, a sharp yoy growth of 104%. ASEAN also surpassed the EU to become the third largest exporting market of pangasius. Probably there will not be any significant change in the rankings for the rest of this year.
Three large and potential markets – Mexico, Colombia, and Saudi Arabia- also saw impressive growth, at 45%, 100%, 116% respectively. It is expected that the first two markets will maintain these positive growth rates for the entire year. The exports to Saudi Arabia, on the other hand, is in ambiguous situation as this market’s Food and Drug Authority (SFDA) recently ordered a temporary suspension of fish and shrimp imports from Vietnam following a quarterly report published by World Organization for Animal Health which shows that white spot disease and acute hepatopancreatic necrosis disease are present in Vietnam. Vinh Hoan has not exported to this market yet.
According to VASEP, the whole sector targets USD2.2bn in pangasius export value for 2018, an increase of 24% yoy.
(Source: VASEP)
