Local pangasius exports to EU plunge over five-month period

Vietnamese pangasius exports to the European Union market suffered a sharp decline of 26.2% to US$39.4 million by mid-May in comparison to the same period from last year, according to the Association of Seafood Exporters and Producers (VASEP).

VASEP data show, the export value to the Netherlands, Spain, Germany, and Belgium fell by 21.7%, 33%, 50.8%, and 38.2%, respectively.

The export value of local pangasius to the demanding market over the past three years has not escaped negative growth, says VASEP.

At present, Bangladesh and China represent two major regional rivals to Vietnam in terms of pangasius exports to the EU. Though their export volume remains modest, their export value is experiencing an upward trend.

The majority of Vietnamese pangasius exports to the EU are made up of frozen pangasius fillets, and the Netherlands is the largest consumer of the products.

Currently, there are more than 13 local businesses involved in exporting pangasius to the Dutch market, of which the three largest enterprises are NTSF Seafood JSC, Vinh Hoan Corp, and Vinh Quang Corp.