Photo: VASEP/FIS

Positive Trends in Vietnam's Pangasius Exports to the EU

VIET NAM
Monday, September 09, 2024, 05:00 (GMT + 9)

According to Vietnam Customs, Vietnam's pangasius exports to the EU reached nearly USD 8 million in the first half of August 2024, representing a 57% increase over the same period last year. Cumulative exports to the EU as of August 15, 2024, totaled USD 107 million, up 0.5% compared to the same period in 2023, as reported by VASEP (the Vietnam Association of Seafood Exporters and Producers).

The Netherlands remains the largest market for Vietnamese pangasius within the EU, with an export value exceeding USD 2 million in the first half of August 2024, a 74% year-on-year increase. However, as of August 15, 2024, total exports to the Netherlands reached nearly USD 30 million, down 1% year-on-year due to declines earlier in February and May 2024. The first half of August 2024 showed a double-digit increase, and it is projected that the overall export value to the Netherlands will grow further by the end of August.

Germany also experienced a reduction in pangasius imports from Vietnam in July 2024. The cumulative decline over the months of January, February, March, and July 2024 led to a slight decrease of 1% in exports to Germany over the first seven months of the year. However, the first half of August 2024 saw a significant rebound, with pangasius exports reaching nearly USD 2 million—an increase of 183% compared to the same period in 2023. As of August 15, 2024, Vietnam exported a total of nearly USD 22 million worth of pangasius to Germany, marking a 4% increase.

Spain ranks third among EU countries in terms of Vietnamese pangasius consumption, following Belgium. In the first half of August 2024, exports to Spain reached nearly USD 1 million, a 15% increase over the same period last year. Cumulative exports to Spain as of August 15, 2024, exceeded USD 11 million, up 14% year-on-year. However, exports to Spain have been inconsistent throughout the year. July 2024 recorded the lowest export value since the beginning of the year, at just over USD 917,000—a 48% decline compared to July 2023.

DAITHANH Pangasius Skewer with Capsicums

Belgium is the fourth-largest market for Vietnamese pangasius in the EU, with an export value exceeding USD 11 million as of August 15, 2024, a 10% increase compared to the same period last year. After declining in February and March 2024, pangasius exports to Belgium stabilized in the subsequent months, showing continuous double-digit growth.

In terms of product categories, the export of VAT (Value-Added Tax) pangasius to the EU in the first seven months of this year decreased by 21% compared to the same period in 2023, totaling nearly USD 2 million. Only March, May, and June saw positive growth, while the other months experienced declines ranging from 38% to 94%. Exports of dried fish and other frozen products to the EU in the same period decreased by 5%, reaching nearly USD 4 million. The primary pangasius product exported to the EU continues to be frozen fillets, which reached an export value of over USD 93 million in the first seven months of the year, a 2% decrease year-on-year.

Pangasius finger. Photo: Godaco Seafood

Despite the fluctuations in the first half of the year, Vietnam’s pangasius exports to the EU have reasons for optimism in the latter half of the year. As the year-end holidays approach, the European economy is expected to continue growing, with unemployment at record lows. Market prices and consumption are also gradually stabilizing, and pangasius exports to the EU are anticipated to increase again following the summer holidays in Europe.

Based on information from Thu Hang (VASEP)

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