[Industry news] Vietnam pangasius exports to traditional markets weaken while Chinese market bulks up
08 November 2017
Vietnam pangasius exports increased in value through September but continued to struggle in key markets such as the United States and Europe, according to the Vietnam Association of Seafood Exporters and Producers (Vasep).
Overall, export value reached $1.3 billion (€1.1 billion), up 5.8 percent from the same period a year earlier, of which 19.8 percent, or S258.3 million (€222.6 million), was sold to the United States. 9.9 percent less than the year prior.
In the European market in August and September, exports fell 8.4 percent and 23.7 percent, respectively, compared with the same period in 2016.
By the end of September, European exports accounted for only 11.8 percent of total exports.
Meanwhile, exports to the Chinese market continue to grow. In the first nine months of the year pangasius exports to China and Hong Kong surpassed S288 million (€248.2 million), 42 percent above exports registered last year during the same period.