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    Home > Food News > Food Articles > The export market structure of pangasius has changed proportionally, and the role of the Chinese market is becoming more and more important

    The export market structure of pangasius has changed proportionally, and the role of the Chinese market is becoming more and more important

    • Last Update: 2022-12-29
    • Source: Internet
    • Author: User
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    By the end of October, Viet Nam's pangasius exports had exceeded US$2.
    1 billion.

    Compared to the same period last year, pangasius exports increased by 77%, the fastest
    growth rate in recent years.
    Frozen pangasiko fillets tend to be imported in
    larger growth markets than fresh/frozen whole fish.
    This key product accounted for 86.
    5% of the total export value of pangasius this year, reaching nearly US$1.
    9 billion, an increase of 79%
    This year, the structure of the pangasius import market has changed
    It is worth noting that the role of the Chinese market is becoming increasingly important
    As of the end of October, China accounted for nearly 30% of Vietnam's pangasius exports, exceeding US$638 million
    This is also the market with the most breakthrough growth in pangasius imports, with an increase of 106%.

    The United States remains the second largest import market for pangasius, but its share has declined
    from the previous year.
    In the first 10 months of this year, pangasius exports to the United States accounted for nearly 23%, reaching $491 million
    The 70% growth in this market was the result of a breakthrough in the first half of the year, when the US economy did not yet have inflation
    According to the US Department of Agriculture, in the first nine months of this year, the United States imported 104,500 tons of frozen pangasius fillets from Vietnam, worth $445 million, an increase of 24% in quantity and 91%
    in value.
    Same period
    last year.
    The average price of frozen pangasius fillet imported from the United States was $4.
    26/kg, up 53%
    Compared to other seafood imported from Vietnam to the United States, pangasius has seen the highest price increase
    Over the past period, EU exports of pangasius to Vietnam have also seen impressive growth, increasing by 103% to US$173 million
    The strong recovery in the EU has increased Vietnam's market share from 7% to 8%.

    The group's main markets were the Netherlands with 72% growth, Germany with 182% growth and Belgium with 94%
    Meanwhile, an important market in Europe is the United Kingdom, where pangasius imports rose 32 percent to nearly $55 million, down from the previous year
    The UK, in the G7 group, is the market with the slowest recovery after Covid, severely affected by inflation and the energy and food crises caused by the wars between Russia and Ukraine, so the demand for seafood, even seafood, is not enough, and prices in the middle and low grades have also fallen
    The CPTPP market still accounted for 13% of Vietnam's pangasius exports, reaching US$282 million, up 74%
    Mexico and Canada had sales of $92 million and $50 million, respectively
    , in the past 10 months.
    Both markets significantly increased Vietnam's pangasius imports, up 67% and 88%
    respectively over the same period.
    Despite the cumulative results in the first 10 months of the year, export sales of pangasius from the end of the third quarter to the fourth quarter clearly reflected the signs
    of a downturn in the market.
    Correspondingly, pangasius exports in October amounted to only US$179 million, the lowest level since the Spring Festival and the lowest increase since the beginning of the year
    There are still many markets where pangasius imports have increased, but there are also many markets where imports have declined, such as the United States down 11%, Canada down 3%, Colombia down 26%.
    These indications are that inflation is strongly affecting market demand, not only at the end of 2022, but also into 2023
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