Pangasius exports skyrocket by 81% over 10 months
VOV.VN - Vietnam’s tra fish (pangasius) exports surged by 81% to reach US$2.2 billion by mid-October, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
This marks the strongest growth among Vietnamese aquatic export products this year, said VASEP, attributing the sharp rise to high inflation in major economies, the ongoing Russia-Ukraine conflict, and China’s zero-COVID policy.
China and the United States are the two largest consumers of Vietnamese pangasius with market shares accounting for 30% and 23%, respectively.
Most notably, China spent US$647 million on importing Vietnamese pangasius over the past 10 months, representing a year-on-year rise of US$647 million.
Apart from these two large markets, local pangasius exports to markets of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and some Asian countries skyrocketed due to taking full advantage of tariff incentives and geographical factors.
By the end of September, Vietnam had more than 400 enterprises engaging in exporting pangasius, and they all recorded strong export growth thanks to high prices.
Currently, the average price of frozen pangasius fillets in the US market inched up 53% to US$4.26 per kilo against the same period last year.
The US Department of Commerce (DOC) recently issued the final determination of the 18th anti-dumping tax administration review (POR18). Accordingly, the DOC has maintained an anti-dumping tax rate that is applied to each company based on the POR17 announcement.
With these positive signs, the country’s pangasius exports are anticipated to soar by 58% to reach over US$2.5 billion this year.
At present, pangasius exports account for 27% of the seafood industry's export value.
