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However, judging by the export performance in September, inflation has hit all food and seafood sectors strongly, and pangasius has not been spared
.
Vietnam's pangasius exports in September were twice as high as in the same period in 2021, but this is the lowest level since the beginning of the year, and inflation and currency depreciation problems in many import markets have had a serious impact on low- and middle-income consumers, forcing them to spend
cautiously.
cautiously.
Inflation has reduced demand for affordable foods such as pangasius, which are affordable to the vast majority of ordinary people in all countries
.
Even in the more optimistic Chinese market, exports of pangasius to the Chinese market in September, although up 190% from the same period last year, are still lower than in
August.
.
Even in the more optimistic Chinese market, exports of pangasius to the Chinese market in September, although up 190% from the same period last year, are still lower than in
August.
In September 2022, Vietnam exported US$49 million worth of pangasius to China, down significantly from US$64 million in August, with China reducing its import demand
for frozen pangasius fillets and whole pangasius.
for frozen pangasius fillets and whole pangasius.
As of the end of the third quarter of 2022, China accounted for nearly 30% of Vietnam's pangasius exports, nearly US$590 million, an increase of 111% over the same period last year, of which sliced accounted for 75% worth US$441 million, and the rest was whole fish, and exports to China have almost returned to pre-pandemic levels
.
.
Exports of Vietnamese pangasius to the United States in September, although up 41 percent, remained lower than in
August.
As of the end of the third quarter, exports to the United States were $454 million, up 83% year-on-year, accounting for 23%, of which frozen pangasius slices accounted for 96% worth $437 million, processed pangasius accounted for 2.
2%, worth nearly $10 million, and the rest were frozen whole plates, accounting for only 1.
6%.
August.
As of the end of the third quarter, exports to the United States were $454 million, up 83% year-on-year, accounting for 23%, of which frozen pangasius slices accounted for 96% worth $437 million, processed pangasius accounted for 2.
2%, worth nearly $10 million, and the rest were frozen whole plates, accounting for only 1.
6%.
In the EU, inflation and energy price growth have directly affected the cost of transporting and storing fish products, and the euro has fallen to a 20-year low against the US dollar, further reducing the demand for fish in the EU market, with Vietnamese pangasius exports to the EU (EU) falling by US$3 million
in September compared to August.
in September compared to August.
As a result of the Russia-Ukraine conflict, the UK, like the EU, is grappling with rising prices and soaring energy costs, with Vietnamese pangasius exports to the UK reaching nearly $50 million in the first nine months of this year, up 30% from the same period last year, mainly thanks to a strong recovery in the second quarter, but in the third quarter, pangasius purchases were lower than in previous months
.
.
Industry forecasts that Vietnam's pangasius exports will reach US$2.
5 billion
this year.
5 billion
this year.
