Pangasius fish export forecast to hit US$1.54 billion in 2021
Overseas shipments of tra fish (pangasius) are expected to bring about US$1.54 billion in revenue this year, said Le Hang, deputy head of the Vietnam Association of Seafood Exporters and Producers (VASEP)’s training and promotion centre.
According to Hang, following continuous growth in the first seven months, the export of this product dropped sharply between August and October due to the COVID-19 impact. However, as from November, it has seen strong recovery signals thanks to the implementation of the Government’s Resolution on safe and flexible adaptation to and effective control of COVID-19. In November alone, pangasius export value grew by over 50%.
The US has recorded the strongest growth among export markets of the fish this year, at nearly 50%, with its demand increasing strongly after the local vaccination and economic recovery campaigns. Currently, the value of pangasius exported to the US accounted for 22% of Vietnam’s total turnover of the product. The percentage for China is 28%, with the market demonstrating a 79% growth in November.
Hang expected that the export will grow further as free trade agreements Vietnam has signed continue to be levers for promoting trade to many markets, especially Mexico, Brazil, Russia, Colombia, and Thailand.
Per data from the Directorate of Fisheries, the total output of pangasius for the entire year is estimated at 1.5 million tonnes and its production outcome is expected to meet the yearly plan.