 |
|
Processed pangasius for export. Photo: CK |
Pangasius exports to the US market are also growing well. After the final results of the 17th administrative review (POR17) anti-dumping duties were announced, pangasius enterprises that are not subject to duties are boosting exports to this market.
As of the end of March 2022, pangasius exports to the US reached over 160 million USD, a 123% increase. Currently, inflation is occurring in the US due to disrupted supply chains and the impact of the Ukraine crisis, prices are skyrocketing, and demand for essential goods, including food and seafood, is increasing, so the near future is a good opportunity for frozen pangasius exporting enterprises to this market.
A similar situation is occurring in Europe, where prices have surged due to supply chain blockages and booming demand. For the first time in many years of decline, pangasius exports from Vietnam to the EU increased by 86.2% in Q1/2022 compared to the same period last year, reaching 46.7 million USD. Major markets within the bloc all saw strong increases (Netherlands up 86%, Germany up 97%, Belgium up 120%, Spain up 67%, etc.).
According to VASEP, it is forecasted that in Q2/2022, pangasius exports to major markets will continue to show positive growth. The increasing and stable demand due to competitive pangasius prices could fill gaps in some segments with shortages of white fish products (cod, pollock) from Russia.
Domestically, according to a PV report, the price of raw pangasius in the Mekong Delta remains high, with farmers making a profit. Specifically, in Dong Thap (the largest pangasius-producing province in the country), the price of raw pangasius ranges from 31,000 to 32,500 VND/kg (an increase of 1,000 VND/kg compared to the first week of April), while the average production cost is about 24,500 VND/kg.
However, authorities also caution that farming needs to be controlled to avoid overproduction, which could lead to prices falling as happened in the past. Currently, farmers are more cautious due to previous experiences of failure.
