The decline in pangasius exports to the UK is smaller than other main markets
According to VASEP, as of August 15, pangasius exports to the UK reached nearly USD 42 million, a decrease of 2% over the same period in 2022, this decline is smaller than other markets such as the US, EU, and China.
According to the Association of Seafood Exporters and Producers (VASEP), in the first half of August, pangasius exports to the UK reached nearly USD 2 million, a decrease of 41% over the same period last year and accounting for 3% of total pangasius export turnover.
Overall, as of August 15, pangasius exports to the UK reached nearly USD 42 million, decreased by 2% over the same period in 2022, this decline is smaller than other markets such as the US, EU, and China.
The price of pangasius exported to the UK in the first seven months of the year continuously fluctuated and remained below USD 3.3/kg. After falling sharply to below USD 2.7/kg in June, the price of pangasius exported to the UK in July increased slightly to USD 2.8/kg.
At the 2023 international pangasius industry conference, Mr. Arno Willemink, Operations Director of De Heus Vietnam, said that three main factors will impact pangasius industry consumption in the upcoming period including sustainability, transparency and traceability. This trend will happen not only in main markets such as the US or EU but also other potential small markets.
Mr. Arno Willemink said that with reasonable prices, pangasius is gradually replacing naturally caught white fish, as the catch output remains stable and does not increase over the years.
In the first months of 2023, the UK is one of the few bright spots recording positive growth while most markets have reduced imports of Vietnamese pangasius due to fluctuations in the world economy.
VASEP believes that the biggest challenge for the UK economy and the pangasius export industry to this market is high inflation. External conditions are detrimental to UK economic growth, as regional and world economic leaders such as Germany and China are still sluggishly "going downhill" to escape the risk of recession.
VASEP hopes that new progresses in diplomatic relations between Vietnam and the UK will open up many opportunities for Vietnamese seafood exports in general and pangasius exports in particular to this market.
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