The gradual recovery from two major export markets, the US and China – Hong Kong, is expected to pull the export value of Vietnamese pangasius in the coming months out of negative growth.
As of the middle of March 2021, the total pangasius export value reached 266.7 million USD, down by 0.4% from the same period last year. In which, the value of exports to the US reached 56.88 million USD, up by 13.2%; China – Hong Kong reached 43.6 million USD, up by 5.4%.Tthe export value of pangasius to the Russian market especially increased by 104.55.
In the first two months of this year, the value of exports to some major markets such as the EU, ASEAN (especially Thailand and Singapore) decreased due to the influence of COVID-19, inventory remains, consumption has not really grown, resulting in the total value of pangasius export during this period also decreased. However, since March 2021, the recovery in exports to the US and China markets has made the picture of exporting pangasius more hopeful.
Compared to the same period in 2020 when pangasius enterprises were completely passive due to the stalling of trade activities at the beginning of the year caused by COVID, this year, businesses promote export to more potential markets. Pangasius export value to Brazil as of the first half of March 2021 also increased by 13.2%; Colombia increased by 33.4%, Mexico by 22.7%, the UAE also increased by 35% and Russia had the strongest growth rate compared to the same period in2020.
If this growth trend continues to hold, the existing quantity of goods in the US and China has almost run out, t is likely that the export value of Vietnamese pangasius in the upcoming months will be more optimistic.