Pangasius exports rebound on rising global demand

Vietnam’s pangasius exports has got back on track on the recovery of many economies following their successful control of the COVID-19 pandemic, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The US has continuously increased its pangasius imports from Vietnam. (Illustrative image)

By the end of May 2021, pangasius exports reached over US$600 million, an increase of more than 10% compared to the same period in 2020, the VASEP reports.

All major pangasius consumers such as China. China, the United States, Brazil and Thailand increased their import from Vietnam, says the association.  

Data from the VASEP show Vietnam’s pangasius exports to Brazil and Thailand rose 38.7% and 8.5% to US$27 million and US$26 million respectively over the same period last year.

Meanwhile, the US consumed more than US$35 million worth of pangasius imports from Vietnam in May alone, up 120% against May 2020. The world’s largest market increased the import of frozen pangasius fillets due to a sharp fall in the output of locally raised catfish.

The five-month export value of the pangasius to Hong Kong (China) also hit US$146 million, accounting for nearly one fourth of Vietnam’s total export value of the product, and making it the country’s largest pangasius consumer.

VASEP General Secretary Truong Dinh Hoe forecast pangasius exports are expected to enjoy impressive growth in the coming months thanks to successful COVID-19 containment in foreign countries.