Vietnamese pangasius exports to ASEAN market surge
VOV.VN - Vietnam’s pangasius exports to the ASEAN market during the opening nine months of the year soared, reaching an estimated US$152 million and accounting for roughly 8% of total pangasius exports to foreign markets.
According to figures released by the Vietnam Association of Seafood Exporters and Producers (VASEP), the bloc accounts for a significant proportion of the country’s total pangasius exports, with this trend expected increase in the time ahead.
With major breakthroughs and constant growth being recorded over recent years, the import proportion of the ASEAN market from Vietnam now stands nearly equivalent to that of the EU, with Vietnam's pangasius exports to the bloc being anticipated to surpass the EU in the near future.
Major markets which make up a large proportion of exports of the item in ASEAN include Thailand, the Philippines, and Singapore. Thailand accounts for 3.6% of Vietnamese pangasius export value with pangasius exports to this market by the end of the third quarter of the year exceeding US$70 million, up 81% against the same period from last year.
Most notably, September alone saw the Philippines market record the strongest growth with a five-fold rise against the same period from last year.
By the end of the third quarter, pangasius exports to this market soared by 92%, duly reaching over US$25 million and accounting for 1.3% of total pangasius exports.
Despite making up a modest proportion, other countries in ASEAN such as Cambodia, Indonesia, and Laos have significantly increased imports of Vietnamese pangasius.
Amid the sharp increase in transportation costs causing disadvantages for the pangasius export industry, ASEAN markets with a close geographical proximity to the nation continue to remain a suitable option for local pangasius enterprises moving forward.
