Pangasius exports could reach USD 1.66 billion in 2016

It is estimated that exports of pangasius shipped in 2016 will reach USD 1,660 million in 2016, up 7 percent compared to the previous year. This figure would also represent 24 percent of the total value of Vietnamese seafood export turnover, according to Vietnam Association of Seafood Exporters and Producers (VASEP).

In 2016, Vietnam’s pangasius was sold to 137 markets, including the US (with a share of 23 percent), China (17 percent) and the EU (16 percent).

In the 4th quarter 2016, shipments to China outpaced the US. China sharply raised imports of Vietnam’s pangasius, which significantly influenced on raw pangasius market in the Mekong Delta and led to the local shortage for production and exports by the end of the year.

According to Vasep, Vietnam has more than 100 pangasius producers and exporters, including 20 large enterprises, which take up about 80 percent of the whole industry and hold 70-80 percent of total material production.

Exports to the US registered until last November generated USD 354.2 million in revenues, 22.2 percent more than in the same period of 2015, and accounted for 22.9 percent of the total value of sales abroad.

As of November 2016, Vietnam’s pangasius exports to EU achieved USD 238.8 million, down 9.9 percent year on year. Due to the continuous declines in the last three years, the EU has slipped to the 3rd rank (behind China) in top three largest importers of Vietnam’s pangasius.

Regarding exports to China of November 2016, they amounted to USD 270.6 million, rising by 84.4 percent compared to same period last year. This market is expected to become the largest importer of Vietnam’s pangasius in 2017.

Vasep foresees that during 2017 the area used for pangasius farming will increase slightly to 5,600 hectares with a yield of 1.2 million tonnes. Prospects for 2017, show exports to value at over USD1.7 billion, slightly increasing by 4 percent year on year.

Source: Fis

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