Pangasius exports hit a record USD 2.26 billion high
(Updated at 10:33, 25/1/2019)
The first year in the past 20 years, pangasius has a spectacular growth in price with a total export turnover of USD 2.26 billion.  The import markets all have positive changes.
 
2018 is considered a successful year of Vietnamese pangasius industry by Vietnam Association of Seafood Exporters and Producers (VASEP) when both farmers and exporters get the best gains. Total pangasius export turnover in 2018 reached USD 2.26 billion, an increase of 26.5% over the previous year with export growth to major markets of 15.6 - 50%.
 
The U.S. regained its leading position in consumption of Vietnam's pangasius
 
In 2018, pangasius export to the US market reached USD 549.4 million, an increase of 59.5% compared to 2017, accounting for 24.3%.  Particularly, in December 2018, exports to this market increased sharply 124% over the same period last year, reaching USD 55 million.  As of the end of October 2018, the US once again ranked as the largest consumer market of Vietnam’s pangasius.
 
Demand for pangasius "cooled down" in China market
 
Pangasius exports to the Chinese market reached USD 528.6 million, an increase of 28.7% from the previous year and accounting for 23.4% of total exports to markets.  Exports to this market did not grow as strongly as in previous years because China began to promote raising this fish with the goal of first meeting domestic demand.  However, this is still considered a potential and large export market of Vietnam’s pangasius enterprises.
 
Fierce competition in the European Union (EU)
 
In 2018, pangasius exports to the EU market prospered after years of bleakness, with export value reaching USD 243.9 million, an increase of 20.2% over the previous year and accounting for 10.8.  This is the 3rd largest export market of Vietnam’s pangasius enterprises after the US and China - Hong Kong
 
In the EU, the four largest consumer markets of Vietnam’s pangasius are Netherlands England Germany and Belgium with export growth of 33.4%; 5.9%; 10.5% and 11.8% compared to 2017.
 
Currently, Vietnam’s pangasius products must compete with tilapia, Alaska pollock in some key markets in the EU.  The replacement of pangasius products in a number of market segments is happening throughout the region to varying degrees.
 
Surge in demand in Middle East market
 
In 2018, exporting of pangasius to the United Arab Emirates increased dramatically by 108.5% and reached USD 48.1 million.  VASEP forecasted that in 2019, pangasius export to this market will continue to grow strongly due to stable import demand.
 
Philippines – the emerging market
 
As of the end of December 2018, pangasius export to ASEAN market reached USD 202.6 million, an increas of 41.5% over the previous year.  In particular, exports to the three largest markets, i.e. Thailand, Singapore, and Philippines increased by 48.8%, 20.7%, and 32.1% respectively compared to 2017. Pangasius export to ASEAN has many advantages in 2018 and the demand is increasing especially in the "emerging" market of the Philippines, VASEP said.

Huong Nguyen
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