Pangasius exports show good signs in Singapore and England in the first half of 2020
The economic crisis caused by COVID-19 pandemic has not come to an end and has been knocking off pangasius exports and imports in many countries. By the first six months of 2020, Vietnam has brought in $612.3 million from pangasius exports, seeing a decline of 29.8% as compared to the same period last year.
After a positive growth in the previous two or three months, sales of pangasius in China – Hong Kong and the US were on decline in May, with export value to China and the US decreasing by 11.3% and 51.2% respectively. Exports to ASEAN and EU fell by 57.6% and 36.2% respectively as compared to the same period last year.
By mid June 2020, export value of pangasius to core markets among top ten biggest destinations saw a decline, except for Singapore and England, which have kept a positive growth after the COVID-19 pandemic.
China – Hong Kong: By mid June 2020, the total of pangasius export value to this market reached $187.9 million, down 15.5% from last year. In May and first half of June 2020, pangasius export value to this market was suddenly put on hold and fell from last year’s number due to the coronavirus outbreak. Furthermore, many supermarkets in South China have not reopened, resulting in a decrease in exporting price of this species to this country over the last few weeks.
The US: the US is still the second biggest destination of Vietnamese pangasius with $95.5 million worth, accounting for 15.6% of Vietnam’s pangasius exports by the first half of June 2020, down 24.4% from last year. Covid-19 is hitting trades and businesses in this market without any sign of recovery so far.
The EU: Even though sales to ASEAN saw a 36.6% decline in the first six months of the year but negative growth is slowing down. By the first half of 2020, the total of export value of pangasius to the EU reached $64.6 million, with export value to the top biggest countries, the Netherlands, German and Spain, decreasing by 32.7%, 37.1% and 16.7% respectively as compared to the same period last year. Like the consumption trend of the US market, it is difficult for pangasius exports to the EU to reach a positive growth like the previous year.
Singapore and England: While sales to core markets have experienced negative growth for a long time, exports to these two markets are showing good signs. By the first half of June 2020, Vietnam brought in $18.5 million from pangasius exports to ASEAN, up 5.7% from last year. Exports of pangasius to England reached $28.6 million, up 7.1% compared to the same period last year.