Pangasius exports exceed expectations

Pangasius (tra fish) exports topped US$1.61 billion last year, an 8.4 per cent rise from 2020, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).

Exports rose quite sharply thanks to a surge in shipments to markets such as Brazil (48.6 per cent increase), Colombia (68.5 per cent), Russia (72.8 per cent), and Egypt (51.7 per cent).

VASEP said exports were up also thanks to the US increasing buying amid an increasing Covid-19 vaccination rate and reopening of restaurants.

Exports to the US in fact doubled from 2020 to $370.6 million.

The fact that the US imposes zero import tariffs on Việt Nam’s two leading pangasius exporters, Vĩnh Hòan Company and Nam Việt Company, has been a big factor in exports to that market increasing consistently.

Meanwhile, exports to China were down 12.6 per cent to $450 million, or 27.8 per cent of total exports.

Exports to the EU declined for a fourth straight year, falling 17 per cent to $106.2 million.

VASEP said the pandemic had a major impact on pangasius trade with many countries including France, Italy and Germany.

It forecast exports of the fish reach $1.7 billion this year.

The pangasius export market is improving and is expected to fully recover this year with companies' efforts and the Government’s support, VASEP general secretary Trương Đình Hòe said.