Vietnam Pangasius Market Update : August 13, 2015
In the first half of year 2015, pangasius farming area in Mekong Delta is approx 5,795 ha ( around 533,479 MT of fish), downs 3.7% year-on-year.
Some farmers report to Gov that due to hot weather and weather changing from dry season into rainy season, mortality has increased.
This year, Vietnam exported pangasius to 128 countries.
Top 8 markets are EU, US, China, Asia, Mexico, Columbia, Canada and Australia. This year, Australia and Canada replace Mexico and Arabia Saudi in the top 8. From Jan ~ June 2015, VN exported to Canada USD 18.249 mil, up 2.9% compared with last year.
US is still biggest market for pangasius, with 21.2% of total pangasius exports. Total export value 159 US mil USD, up 4.8%. In Q1, 83.5% of pangasius and catfish imported by the US were from VN.
EU market still challenging, down 17.6% compared with last year. But UK market has seen improvement, up 41%
Pangasius exports to China reached to 70.15 mil US$, up 50.7% year to year, marking a significant growth.
In 2015, VN signed a free trade agreement with South Korea and the Eurasian Economic Union . Another trade deal is with EU and Trans-Pacific Partnership agreement is to be signed. Pangasius exporters will see some benefits when trading to this market,
China market is a potential market for VN pangasius. Besides domestic consumption, China also imported pangasius to process and re-export to USA. And to sustainably develop domestic seafood industry, Chinese Government offered a new credit package of 20 billion Yuan.
Due to high cost of fuel and feed, less farm area is likely to be seeded causing a potential shortage by year end.