Pangasius exports to Canada increased by 69%
As of mid-April of 2022, Vietnam saw a worth of USD 17.2 million from exporting pangasius to Canada, up 69.4% as compared to the same period last year.
Canada has been the second biggest importer of Vietnamese pangasius among member countries of the CPTPP treaty. This seafood market has displayed good prices and stable growth among the North American countries. As tradition went, Canada had close trade relationships with the US and China, with mainly wild-caught species being sold. However, Canada’s importing companies have searched and boosted their purchases of farmed species for three years, pangasius and tilapia included.
Canada has been a regular importer of more than thirty Vietnamese pangasius enterprises so far. The top three providers to Canada in the first quarter this year include Vinh Hoan Corp, NTSF Seafoods, and TG Fishery.
Vietnam’s seafood exports to Canada have been slower for two years due to the Covid-19 pandemic, but started to increase in quarter I of 2022. The average price of frozen pangasius fillet was quite good, ranging at 3.15-3.35 USD/kg.
Vietnamese pangasius has to compete against other white meat fish in Canada, especially codfish, haddock, and tilapia. However, Vietnamese pangasius products have conquered more and more market share of white fish recently.
Pangasius exports to the US are forecasted to show good signs in 2022 at least, likewise to Canada.