Vietnam pangasius export volume hit two-year high

Vietnam’s pangasius exports reached 80,000 metric tons in May — the biggest monthly shipments since 2022 and marking the third consecutive month of growth — largely driven by high demand from China, according to a consultancy commissioned by Undercurrent News to gather and analyze customs data.

For May, export volumes of pangasius products were up 8% month-on-month and up 46% year-on-year at 83,394t.

“Exports to the largest market, China and Hong Kong, continued to rise by 20%, which significantly contributed to this month’s growth,” the consultancy told Undercurrent in its report.

“There is also an increase in exports to ASEAN (+7%), Mexico (+15%) and the UK (+33%). Meanwhile, as projected, the US market went flat with a 1% decrease in volume.”

Exports to the EU and Brazil also decreased by 6% and 18%, respectively.

Regarding the resurgence of the vital Chinese market, the consultancy said: “In Chinese retail stores, pangasius is recorded at cheaper prices than freshwater fish farmed domestically, such as carp. Importers are forced to concentrate on lower-priced goods due to China’s faltering economy which is making customers more frugal and reluctant about their purchases. Reasonable costs and good fillet quality have helped pangasius grow in popularity and establish a firmer footing in this country.”

The average export price still shows no real signs of improving, though. After a 3% lift in March, April and now May have seen dips. The latest average price across all products — from the heaviest glaze to the top-of-the-range, Aquaculture Stewardship Council-certified fillets, and what limited value-added products are shipped — is down 2% to $2.13 per kilogram.

For more details, visit the full article from Undercurrent News

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