(seafood.vasep.com.vn) According to Customs statistics, by mid-October 2022, the country's pangasius exports reached 2.06 billion USD, an increase of 60% over the same period in 2022. By the end of October 2022, pangasius exports is forecast to earn nearly 2.2 billion USD in foreign currency, an increase of 80% compared to the same period in 2021. Of which, the Chinese market alone accounted for 30% with about 654 million USD, up 110%.
From 2020 to now, China has maintained its position as the No. 1 pangasius import market of Vietnam, surpassing the US market. Compared to the Vietnamese pangasius import markets, China has always maintained the highest growth rate, with sales increasing by more than 2 times over the same period last year. It is estimated that in October, pangasius exports to this market reached about 64.2 million USD, an increase of 105% compared to the same period in 2021. In which, the export of frozen pangasius fillets/portion to this market accounted for 75% with over 48 million USD. Whole fresh/frozen pangasius accounted for over 24%, reaching nearly 16 million USD.
By the end of October, the export of frozen pangasius fillets to China reached over USD 489 million, up 115%, the export of fresh/frozen pangasius HS code 0303 reached over USD 163 million. Estimated volume of frozen pangasius fillets exported to China by the end of October was about 215 thousand tons.
The average price of frozen pangasius fillets (HS code 030462) exported to the Chinese market in the first 9 months of 2022 reached US$2.28/kg. In which, the average export price in September reached the highest level since the beginning of the year, with 2.73 USD/kg. Market demand increased in the third quarter and the beginning of the fourth quarter to serve orders and consumption during the Lunar New Year and year-end festivals while the supply of raw materials decreased, causing the export price to increase higher in this period.
China has supassed the US to be the No1 destination for Vietnamese pangasius exports
In the first 9 months of 2022, Vietnam had more than 400 enterprises exporting pangasius to the Chinese market. The leading enterprises in this market include Vinh Hoan Corp, accounting for over 16% of pangasius turnover to China, Bien Dong Seafood accounting for nearly 6%, Van Duc Tien Giang Food, Navico and I.D.I Corp both accounted for 5%. Enterprises that are also in the top 10 pangasius exporters to the Chinese market include DATHACO, GODACO Seafood, TG FISHERY, Cadovimex II and Ntsf Seafoods.
China's zero Covid policies have affected the country's economic industries, including the seafood industry. Fishing and aquaculture volume have been reduced because of the country's Covid control regulations. Therefore, China has to increase imports from other countries to make up for the shortfall in output for domestic consumption and for the export processing sector.
The Covid pandemic and the Russia-Ukraine conflict have caused rising sea freight rates and inflation, creating challenges for Chinese seafood importers and exporters. Therefore, with an advantage in geographical position, Vietnamese seafood will be the preferred choice of these mainland importers, especially pangasius products.
Recently, Chinese President Xi Jinping has announced that he will not immediately ease the zero-COVID policy, so the Chinese international trade will certainly not be able to recover as before the pandemic.
However, the regulation of Covid testing in imported goods has also been relaxed from July 2022, which means that exporters will not be suspended from exporting if there are traces of corona virus on imported products or product packaging. Therefore, Vietnamese seafood exporters still have opportunities to promote exports to the Chinese market. China will continue to be the main and potential market for Vietnamese pangasius products this year and next.
Source: Vasep
