The November pangasius exports to China decreased by 29.3% from the previous month
In November 2020, the pangasius export value to the Chinese – Hongkong market decreased by 29.3% as compared to October. Products going to China get stuck at border gates for SARS-CoV-2 tests, resulting in stagnant business of pangasius in this market.
By the end of November 2020, China-Hongkong has been the largest destination of Vietnamese pangasius, reaching $484.8 million, accounting for 35.7% of the total pangasius exports, up 7.6% as compared to the same period last year. However, pangasius exports have been seriously affected in the last two months.
In the first eleven months of 2020, total pangasius export value reached $1.35 billion, down 7.1% as compared to the same period last year. Besides China-Hongkong, pangasius export value to the US market reached $218.3 million, up 4.8%, sales to the UK reached $60.15 million, up 48.1% and export value to Singapore reached $31.4 million, up 14.1%. Meanwhile, negative growth has been recorded in other markets.
In November 2020, while sales of pangasius to China-Hongkong, ASEAN, and EU reduced, export value to the US, UK, Mexico, Brazil and Colombia increased by 5.6%, 14%, 28.8%, 33%, and 15.4% respectively as compared to the same period last year. The total pangasius export value reached $144.7% this month, down 7.7% from last year.
Until now, the UK has been the most stable importing market of Vietnamese pangasius in 2020. Since earlier this year, due to the COVID-19 pandemic, pangasius exports to ASEAN, the EU and some countries in the America have reduced and have not displayed any signs of recovery.
As forecasted, if the stagnant business is addressed, the total export value of pangasius in 2020 will reduce by under 10% as compared to the same period last year.