October pangasius fish exports lowest this year as demand dips

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.