Vietnamese pangasius is having an advantage in China
Despite the decrease in Pangasius imports from Vietnam to China by two digits in the first three quarters of this year, specifically according to customs data, China has imported 127,000 tons of frozen pangasius, valued at USD 264 million in the first nine months of this year, a reduction compared to 206,000 tons and USD 510 million last year. However, Mr. Chen Xindong, a seasoned expert in the industry, believes that pangasius still holds advantages in China, with the potential for explosive growth if replacing other ingredients in some dishes.
Specifically, at the recent China Seafood Expo held in Qingdao, a representative from the Qingdao Meichu Foods import company stated that pangasius cooked with Sichuan pickles has become one of the most popular dishes in China. Mr. Chen mentioned that the market is being driven by dishes like Sichuan pickled pangasius, grilled pangasius, and hot pot. In general, if other dishes can be replaced with pangasius, sales could experience explosive growth.
Positive signal for Vietnamese pangasius
Chinese farmed pangasius is not considered a threat. Vietnamese producers still do not have many concerns about the risk of losing Chinese customers, although pangasius producers in Hainan and Guangdong are penetrating the market. Furthermore, the size of domestically farmed pangasius in China is generally smaller than that of Vietnam. Therefore, domestic pangasius in China cannot directly compete with imports from Vietnam.
Pangasius sales started to recover in July and continued to rise throughout August and September, thanks to the summer break for students. Additionally, collective kitchens resumed operations after a long period of COVID-19 restrictions.