VASEP believes that ASEAN is becoming an attractive destination for many pangasius businesses thanks to its geographical advantages, low risks of logistics issues, and preferential tariffs from trade agreements.
In the first 11 months of the year, pangasius exports to ASEAN countries reached US$183 million, up 87% over the same period last year, accounting for 8% of total pangasius export turnover. In which, the most prominent is the Thailand market, accounting for over 45% of the total import value of pangasius.
In 2022, ASEAN countries are also affected by China's Zero COVID policy, the Russia-Ukraine conflict, and slowing global economic growth. However, the economies of ASEAN countries are still positive and less affected by inflation.
VASEP believes that ASEAN is becoming an attractive destination for many pangasius businesses thanks to its geographical advantage and low risk of logistics issues and tariff preferences from bilateral and multilateral trade agreements with Vietnam.
The top 4 markets in ASEAN that import the most Vietnamese pangasius include Thailand, Singapore, Malaysia, and the Philippines, up 50-93% in the past 11 months.
By the end of November, pangasius exports to Thailand reached nearly $83 million, up 67% over the same period in 2021. This market has attracted nearly 80 Vietnamese pangasius exporters.
Products that are imported to Thailand a lot are pangasius fillets, frozen, cut into pieces, and cubed. In addition, Vietnamese enterprises also export to Thailand products of pangasius cut into pieces, cut into spiced bars, and dried and dried pangasius bubbles...
According to VASEP, after COVID-19, Thailand has fully opened up and the tourism industry is recovering strongly. The restaurant and hotel segments can create a great room for food businesses.
In addition to the recovery in tourism momentum, the post-election economic stimulus package, which is expected to boost Thailand consumption in 2023, is seen as an opportunity for exporters like Vietnam.
(VietnamBiz)
Read more: Seafood Industry Report
SEAFOOD INDUSTRY REPORT - 12/2022