Enterprises redirect pangasius exports to the Middle East
According to the Vietnam Association of Seafood Exporters and Producers, the Middle East is a potential market for Vietnamese pangasius exports during the past years. However, the development of exports to this market has many ups and downs.
In 2020, pangasius exports to the Saudi Arabian market were suspended (after 2 years), but this year, export turnover to this market achieved growth again. Currently, Saudi Arabia is the third largest pangasius export market of Vietnamese seafood enterprises in the Middle East region with a total export value of USD 6.92 million in the past eight months.
As of August 31, 2021, the total export value of pangasius to the Middle East market reached USD 56.32 million. In which, Egypt, UAE and Saudi Arabia are the three largest markets of Vietnamese pangasius enterprises. In which, the total export value to Egypt and the UAE accounted for more than 63% of the total export value of pangasius to the whole region.
Faced with the fact that many export markets are affected, businesses are starting to shift their export direction. In 2021, there are more than 20 enterprises exporting to the Egyptian market and more than 15 enterprises actively exporting pangasius to the UAE.
In 2021, Egypt is considered a country that successfully controls not only the Covid-19 pandemic but also other health issues. The government of this country has accompanied all ministries, businesses and people to participate in the fight against the pandemic. Egypt is also becoming a manufacturing and exporting hub for Covid-19 vaccines in Africa, after achieving vaccine self-sufficiency. This helps stabilize the country's trade activities in 2021. As a result, the economy and domestic traffic activities would not be affected.
The demand for importing pangasius from the Middle East region this year is quite good. However, Vietnamese pangasius processing enterprises are stably recovering production, many factories are still facing many difficulties due to the impact of the pandemic.
In addition, trade barriers from China in the first half of the year and the decline in pangasius imports from the EU over the past several years have caused Vietnamese pangasius businesses to shift to potential markets in ASEAN and the Middle East or Latin America. In which, the number of businesses promoting pangasius exports to Brazil and Mexico increased significantly compared to the previous year.
In particular, in the second quarter of 2021, the value of pangasius exports to Mexico increased impressively by three figures, from 166% - 232% over the same period in 2020.
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