Pangasius exports to CPTPP are expected to achieve positive growth in September
In the first half of September, pangasius exports to the CPTPP bloc reached USD 9 million, an increase of 17% over the same period in 2022. Three major markets in the bloc, i.e. Japan, Mexico, and Canada, recorded positive growth at 16-75 %.
According to Vietnam Association of Seafood Exporters and Producers (VASEP), in the first half of September, pangasius exports to the CPTPP bloc reached USD 9 million, an increase of 17% over the same period in 2022. The decline has narrowed compared to previous months. It is expected that Vietnam's pangasius exports to the CPTPP market in September 2023 will gain positive growth over the same period.
Several markets with double-digit positive growth compared to the first half of September 2022 are Japan, Mexico, and Canada reaching USD 1.3 million, an increase of 75%; USD 2.4 million, an increase of 59% and USD 1.3 million, an increase of 16% respectively.
Accumulated to September 15, Vietnam's pangasius exports to the CPTPP market reached USD 167 million, a decrease of 32% over the same period last year.
Mexico continues to be the leading market in the CPTPP bloc for importing Vietnam's pangasius, in which the favorite products are frozen pangasius fillets and frozen cut pangasius.
However, the price of pangasius exported to Mexico in the first eight months of the year recorded a decrease compared to the same period in 2022. Particularly in August, the price of pangasius exported to Mexico reached USD 2.07/kg, a decrease of 24% compared to the same period in 2022, this is also the lowest level since the beginning of this year.
With signs that the market is accelerating in the last months of the year, VASEP expects that pangasius export turnover to the CPTPP market in September will record positive growth for the first time since the beginning of this year.
The UK becoming a new member of CPTPP also strengthens the value chain and supply chain in the bloc, promotes the process of trade liberalization in the region, and creates more favorable conditions for Vietnam's export of goods to member countries in the bloc.
VASEP statistics show that seafood exports in September reached USD 862 million, equivalent to the same period in 2022. Of which, pangasius products gained positive growth of 9% over the same period last year to USD 179 million.
Accumulated over the first nine months of the year, seafood exports reached USD 6.7 billion, 22% lower than the same period in 2022. Of which, pangasius exports reached nearly USD 1.4 billion, a decrease of 31% over the same period in 2022 and accounting for about 20% of total seafood export turnover.
VASEP believes that the market is showing signs of improvement, especially in the fourth quarter. Therefore, seafood exports in 2023 will bring in sales of about USD 9.2 - 9.3 billion if there are no strong fluctuations in the market and the supply of raw materials is stable.
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