Positive result in Pangasius exports to Singapore and the UK

Positive result in Pangasius exports to Singapore and the UK

The economic crisis due to the COVID-19 pandemic is also one of the major causes affecting the import and export activities of pangasius in many major markets around the world. As of the first half of June 2020, Vietnam’s pangasius export value plunged by 29.8% over the same period in 2019, reaching US$ 612.3 million.

After the positive growth in the previous 2-3 months, until May 2020, the export value of pangasius to China – Hong Kong and the US fell. In May 2020, export value to China – Hong Kong decreased by 11.3%; export to the US plummeted by 51.2%. Exports to ASEAN and the EU also dropped sharply, respectively 57.6% and 36.2% over the same period in 2019.

As of mid-June 2020, pangasius export value to most major markets in the top 10 major importers declined compared to the same period in 2019, except for Singapore and the UK. These were two importers among the top 10 importers that still maintained positive growth during the COVID-19 pandemic.

China – Hongkong: As of the first half of June 2020, the total export value of pangasius to this market reached US$ 187.9 million, down 15.5% over the same period in 2019. In May and the first half of June 2020, pangasius export value to China – Hong Kong market suddenly leveled off and declined compared to the same period in 2019 as several Chinese ports that closed up importing seafood shipments due to concerns about the risk of Covid-19 infection. Moreover, many supermarkets in Northern China have not sold as before. This has also affected the export price to this market in recent weeks.

The US: The US was still the second-largest exporter of Vietnam pangasius enterprises, accounting for 15.6% of the total pangasius export, reaching US$ 95.5 million (as of the first half of June 2020), down 24.4% % compared to the same period in 2019. The COVID-19 epidemic has a great impact on commercial and business activities in this market. So far, there have been no positive signs of recovery in this market.

EU: Although Vietnam’s pangasius export value to the ASEAN market in the first 6 months of 2020 still decreased by 36.6% compared to the same period last year, the negative growth rate showed signs of slowing down. As of the first half of June 2020, the total value of pangasius exports to the EU reached US$ 64.6 million. In particular, pangasius export value to the three largest importers of the Netherlands, Germany, and Spain slumped by 32.7%; 37.1%, and 16.7% respectively over the same period in 2019. Similar to the consumption trend in the US, so far, businesses have not been expecting the export to this market will grow positively like the previous year.

Singapore and the UK: It can be said that these were two special markets during the Covid-19 epidemic, while most of the export value to major importers were affected with negative growth, the export value to these two markets were brighter. As of the first half of June 2020, pangasius export value to Singapore – the second-largest export market of Vietnam pangasius in ASEAN reached US$ 18.5 million, up 5.7% over the same period in 2019. Pangasius export value to the UK market also reached US$ 28.6 million, up 7.1% over the same period in 2019.

It can be said that the overall picture of Vietnamese pangasius exports in the first two quarters of 2020 was not bright due to the Covid-19 pandemic. However, pangasius enterprises expect that, from the 3rd quarter of 2020, trade activities will gradually stabilize in some markets, which include the two largest importers (China – Hong Kong and the United States).

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