June alone saw local pangasius exports soar by 28.1% to nearly US$142.6 million, said the VASEP.
Most notably, the export value of pangasius to the United States has since the beginning of the year witnessed a gradual recovery, thereby recording robust growth.
In June alone, Vietnam’s pangasius exports to the US skyrocketed by 68% to US$34.4 million, increasing its total export value of the fish to this market during the six-month period by 57.7% to US$168.7 million.
Following the US Department of Commerce (DOC)’s announcement regarding slashing anti-dumping duties on frozen pangasius imported from Vietnam to 0%, the export of the products to the demanding market is projected to witness positive growth ahead in the next quarter.
Meanwhile, a high demand for pangasius in members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) such as Mexico, Canada and Australia also prompted Vietnamese businesses to increase their exports to these markets as opposed to the EU and ASEAN markets.
Data from the VASEP show pangasius exports to CPTPP member states recorded a slight increase of 8.8% to US$108.4 million in the reviewed period. The export value of the fish to Mexico, Canada and Australia surged by 78.3%, 17.7%, and 5.2% to US$37 million, US$18.1 million, and US$15.4 million, respectively.
However, the fresh coronavirus outbreak is causing difficulties for pangasius processing, obstructing businesses from transporting the fish from farms to factories. Truck drivers are now required to have a negative test certificate against COVID-19 before being permitted to enter Ho Chi Minh City for instance.
Along with this, congestion at import inspection sections of ports will greatly affect the processing activities of seafood enterprises.
This comes as pangasius exports to the Chinese and EU markets witnessed a downward trajectory. According to the VASEP, 25 Vietnamese pangasius exporters withdrew from the EU market by the end of May as a result of high international sea freight rates.
Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, said his ministry is seeking to iron out snags for export businesses, aiming to increase their export volume and value in the EU and China – the two important markets for Vietnam.