News on November 14, as of mid-October this year, Vietnam's pangasius exports increased by 60% year-on-year to US$2.06 billion. As of the end of October, Vietnam's exports of pangasius are expected to increase by 80% year-on-year to US$2.2 billion.
Among them, Vietnam said that China remains the country's main export market for pangasius products this year and next.
(Source: Subchart.com)
Compared with the traditional Chinese four big fish, the pangasius, which is native to the Mekong River in Vietnam, has been out of the circle in China in recent years because of its thornless appearance, and in recent years has been favored by Chinese catering brands such as hot pot and sauerkraut fish. However, due to the relatively high requirements for pangasius farming, most of the pangasius in the Chinese market are currently imported in Vietnam.
So far in 2020, China has been the number one buyer of pangasius in Vietnam. Data shows that in October this year, Vietnam's pangasius exported to China amounted to US$64.2 million, an increase of 105% year-on-year. Among them, 75% of the sliced/chunked frozen pangasius accounted for 48 million US dollars, and fresh/frozen whole fish accounted for more than 24%, worth nearly 16 million US dollars.
At the same time, China has maintained the highest growth rate of all Vietnam's export markets, with exports more than doubling year-on-year in October.
(Source: Subchart.com)
In addition to China, Vietnamese pangasius exporters include the United States, Mexico and Brazil. And for a long time, the United States was the largest market for Vietnamese pangasiker.
However, due to the relative saturation of the US pangasius market and the stricter requirements for Vietnamese pangasius entering the US market, Chinese demand is also growing steadily. Coupled with the fact that the United States is currently facing high inflation, consumers are buying less of such products in order to save money. As a result, the number of Vietnamese exports to the United States has also decreased.
(Source: Subchart.com)
As of the end of the third quarter, Vietnamese pangasius exports to the United States reached US$454 million, but by October, Vietnamese pangasius exports to the United States had fallen by nearly 25%.
Text| Wei Yansong, inscription| Huang Zixin, Review, | Zeng Yi