Pangasius products valued at more than US$1.6 billion were sold to overseas markets by Vietnamese exporters in 2021, an increase of 8.4% on the previous year, with the Vietnam Association of Seafood Exporters and Producers (VASEP) highlighting that the increased trade was achieved despite transportation difficulties, many of which were created by the Covid-19 pandemic.
With regards to markets, exports to China/Hong Kong – Vietnam’s number one pangasius buyer – fell in value by 12.6% compared to 2020 to $449.8 million.
In first three-quarters of 2021, this trade encountered many problems and interruptions due to trade barriers that China introduced to reduce its imports of frozen food. Since then, with inventories depleting, Vietnamese pangasius exports have bounced back. In December, this trade to China soared 144.3% year-on-year to $73.2 million, VASEP advised.
Meanwhile, exporters doubled their sales in the US market to $370.6 million last year. In December alone, this trade reached $46.6 million, up 67% over the same period 2020.
Vietnam’s pangasius export earnings from the Mexican and Canadian markets also increased by 37.3% and 7.5% respectively to $69.2 million and $32.7 million.
However, the total value of exports to the EU market slipped 17% to $106.2 million last year, with earnings from the region’s four largest markets of the Netherlands, Belgium, Spain and Germany decreasing by 20%, 23.5%, 9.3% and 43.6% respectively.
VASEP also confirmed that the value of pangasius exports to “redirected markets” such as Brazil, Colombia, Russia and Egypt “is very bright”, with sales revenues increasing by 48.6%, 68.5%, 72.8% and 51.7% over the previous year.
