Pangasius exports to the EU bounced back after months of stagnation

(seafood.vasep.com.vn) After two consecutive years of decline in pangasius exports to the EU, the number of Vietnamese enterprises getting away from this market has upsurged. Even before the outbreak of Covid-19 in the EU, this market did not seem promising as exports fell to negative levels for several months in a row. However, a positive outlook for trade with this market starting is ahead for 2022.

Pangasius exports to the EU bounced back after months of stagnation

Until the first half of February 2022, the total value of pangasius exports to the EU reached 20.2 million USD, up 40.2% over the same period last year. This is the most optimistic growth after many months of stagnation or plunge. 

Currently, the Netherlands, Belgium, Germany, and Spain are the 4 largest pangasius export markets in the block of Vietnamese seafood enterprises, in which, the Netherlands is the largest market, accounting for 36.6% of the total export value to this market.

Over 10 years ago, the EU, as our traditional partner, was the largest pangasius export market of Vietnam. However, after reaching the "golden" time in the years 2016-2018, pangasius exports to the EU began to level off and gradually declined.

After being affected by Covid-19, many importers said they faced financial difficulties because the demand for white fish, including pangasius, in many markets of the region had not expanded, while logistics costs, transportation costs, etc., increased significantly. Many EU customers have actively requested to reduce the order quantity, cancel or postpone orders that have already been or are about to be signed. In addition, FOB importers face difficulties due to high sea freight costs, hence although pangasius prices in the EU are still stable, many importers are hesitant to purchase.

Due to higher demands from EU customers, while the repurchase price is not very attractive, in 2021, many enterprises which once had a competitive advantage when exporting to the EU moved to other markets such as China, Mexico, Brazil, Egypt, Colombia, and Thailand. That is also the reason why pangasius export value to the EU decreased continuously.

At the beginning of this year, pangasius export value to the EU is experiencing positive growth again, which is promising for many businesses that would like to return to this market. Although in the past few months, the export value of pangasius to many European countries has been downsized or interrupted, this is still considered a large and important market for Vietnamese enterprises.
Compiled by Minh Trang


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SPECIALIST ON
PANGASIUS MARKET

Ms Ta Ha

Email: taha@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

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