Pangasius exporters from Vietnam have chosen to increase sales to Mexico and the E.U. this year as demand in these markets is on the rise, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
The value of pangasius exports to Mexico in July was USD 11 million (EUR 10.83 million), doubling from the same month last year. In the first seven months, Vietnam sold pangasius products worth USD 73.5 million (EUR 72.4 million) to Mexico, up 73 percent year-on-year.
Of the total value in the period, sales of frozen pangasius fillets were USD 69 million (EUR 68 million), accounting for nearly 94 percent.
Prices of the pangasius fillets exported to Mexico in the first half also surged 63.5 percent year-on-year to USD 2.80 (EUR 2.70) per kilogram.
Despite record high inflation in Mexico and the recent strengthening of the U.S. dollar, food consumption in Mexico was not affected as much as other countries thanks to a high flow of remittances from the U.S., VASEP said.
In the first six months, about 30 pangasius exporters from Vietnam have shifted sales from other markets to Mexico, with many more showing an interest in driving up sales to this market.
VASEP is optimistic that the value of the pangasius exports to Mexico this year will soar 80 percent to USD 125 million (EUR 123 million).
Pangasius sales from Vietnam to the E.U., a rather difficult market for pangasius, also saw high growth this year. Between 1 January and 15 July, the export value was USD 122 million (EUR 122 million), jumping 91 percent year-on-year and surpassing the sales value of USD 106 million (EUR 104.4 million) achieved in the entire 2021. Of that total, the value of frozen pangasius fillets was USD 113.5 million (EUR 111.8 million), up 94 percent from a year earlier, according to VASEP.
The E.U. used to be the largest market for pangasius from Vietnam, with sales value reaching USD 511 million (EUR 503.3 million) in 2010. However, due to what VASEP says are “false claims” and “negative media reports” in the past, and most recently the disruptions in the supply chain during the COVID-19 pandemic, sales fell over years, to USD 106 million (EUR 104.4 million) in 2021..
The pangasius exports to the bloc recovered this year, with demand booming following the reopening of the European economies and the shortage of whitefish due to the E.U.’s sanctions against Russia in response to its invasion of Ukraine.
Major buyers of pangasius from Vietnam in the E.U. between 1 January and 15 July included the Netherlands, with its sales value rising 72 percent year-on-year and accounting for 30 percent of the total export value to the E.U.; Germany, up 107 percent, accounting for 12 percent of sales; Spain, up 75 percent higher year-on-year, and accounting for nearly 10 percent of sales; Belgium, jumping 92 percent and accounting for 9.7 percent; and Italy, up 90 percent and accounting for roughly 8 percent of sales.
Given the high growth so far, VASEP expects the pangasius sales to the E.U. will rise more than 90 percent to over USD 200 million (EUR 197 million) in 2022.
Photo courtesy of Dzung Dang/Shutterstock
