The EU is importing more Vietnamese pangasius during the last few months of the year
In September 2023, Vietnamese pangasius exports to the EU market showed promising results with positive growth after months of decline. The export value reached over 14 million USD, which is an 11% increase compared to the same period last year. This indicates a potential recovery for the pangasius industry in Vietnam and a positive outlook for future exports to the EU market. It is encouraging news for the industry and a testament to the efforts and resilience of the Vietnamese pangasius exporters.
During the third quarter of 2023, there was an upward trend in demand for Vietnamese pangasius in the Netherlands market. After months of decline, positive growth was recorded in July (up 13%), September (up 26%), while August witnessed a slight decrease of 4%. Other important markets in the EU such as Germany, Belgium, Spain, Italy, and France are also significant importers of pangasius from Vietnam. Notably, German pangasius import surged by 32% to reach 28 million USD in the first 9 months of the year. Additionally, several other markets in the bloc have also shown a considerable increase in their purchases of pangasius from Vietnam, including Finland (up 14 times), Latvia (up 72%), and Sweden (up 25%). This indicates that the overall outlook for pangasius exports to the EU market is promising and reaffirms the popularity and versatility of this fish species in various cuisines.
The average price of pangasius exports to the EU market was 2.78 USD/kg, reflecting a 10% decline compared to the same period last year. However, the average price of pangasius exports did see a slight increase in the third quarter of 2023 compared to the second quarter of 2023. Nevertheless, the average price was still down by 16% compared to the same period last year. The decrease in the average price of pangasius exports can be attributed to various factors, including a rise in competition, a lower demand in some markets, and fluctuations in production costs.
Nonetheless, the slight increase in the average price of pangasius exports in the third quarter of 2023 is encouraging and could indicate a gradual recovery of the industry.