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Pangasius exports to China are skyrocketing and suddenly plummeting

After continuously growing at a high rate for 10 consecutive months, pangasius exports to China suddenly dropped in November with a decrease of 46%. However, China is still the market that attracts the largest number of Vietnamese pangasius exporters.

Source: CafeF

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the cause of pangasius exports to China in November decreased due to the Zero Covid policy with prolonged restrictions, which weakened the Chinese seafood market, leading to a sharp drop in seafood demand and market prices.

Statistics and data collected at 68 wholesale markets across the country show that, in September, seafood sales of enterprises decreased by nearly 20% compared to the same period in 2021. The average seafood price was at $3.41/kg, down 12%. The price of freshwater seafood decreased by 6.3% to an average of $2.64/kg, while the volume of freshwater seafood sold decreased by 16.5%.

VASEP said that although exports in November fell sharply, by the end of November, pangasius exports to China reached $636 million, up 81% over the same period. Meanwhile, exports to Hong Kong - China reached nearly $38 million, up 46%. Particularly, frozen pangasius fillets with HS code 0304 exported to China reached $472 million, accounting for 74% of pangasius export value to this market.

Vietnam's pangasius products are imported into China through 24 ports and border gates of this country. In which, the most concentration is in Guangdong, accounting for 29-30%, Tianjin at about 12%, Shandong at 12%, and Shanghai at 11%. Followed by Zhanjiang 105, Beijing 9%, Fujian 8% and Guangxi, Hubei, Liaoning, Jiangsu ...

VASEP assessed that, in the coming time, the situation of the Chinese market is still unpredictable and depends significantly on how the country adjusts its Zero Covid control policy. However, seafood businesses in the world and Vietnam are expecting stability in this market because this is still the highest-consumption market today.

Source: CafeF


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