EU increases Vietnam’s pangasius imports in September 2023

According to data from Vietnam Customs, as of October 15, 2023, the EU market imported more than 134 million USD of Vietnam’s pangasius, down 19% compared to the same period in 2022.

After many months of decline, in September 2023, Vietnam’s pangasius exports to the EU recorded positive growth again with a value of more than 14 million USD, up 11% over the same period last year. In QIII/2023, the EU bought 50 million USD of Vietnam’s pangasius, down 17% compared to the same period last year. Accumulated in the first 9 months of 2023, pangasius exports to this market reached 129 million USD, down 19% compared to the same period in 2022.

The Netherlands is still the leading country in the EU in importing Vietnam’s pangasius with more than 10 million USD, up 9% in QIII/2023. However, the cumulative results in the first 9 months of the year still decreased by 20% compared to the same period last year, reaching 35 million USD. In QIII/2023, the Netherlands gradually recovered demand for Vietnam’s pangasius compared to previous quarters, recording positive growth for the first time since the beginning of the year in July (up 13%) and September (up 13%). 26%), in August alone there was a slight decrease of 4%.

Behind the Netherlands, Germany, Belgium, Spain, Italy, and France are also markets that import a lot of pangasius from Vietnam in the EU. Notably, pangasius exports to German increased by 32% to 28 million USD in the first 9 months of this year. In addition, some other markets in the bloc also increased their purchases of pangasius from Vietnam, including Finland (up 14 times), Latvia (up 72%), Sweden (up 25%),…

In the first 9 months of 2023, the average price of pangasius exports to the EU is 2.78 USD/kg, down 10% compared to the same period last year. The average price in QIII/2023 recorded a slight increase compared to QII/2023, but still decreased by 16% compared to the same period last year.

The EU is forecasted to achieve its goal of bringing inflation down to 2% despite difficulties from the cost of living crisis and concerns about falling global demand. This economic bloc is gradually controlling the effects of the conflict in Ukraine, but may be negatively impacted by the current Hamas-Israel conflict. Therefore, pangasius exports to the EU market in the last quarter of this year narrow the decrease compared to previous quarters but could not recover to the level of the same period last year.

(Source: https://seafood.vasep.com.vn/)

https://seafood.vasep.com.vn/key-seafood-sectors/pangasius/news/eu-increases-vietnam-s-pangasius-imports-in-september-2023-29294.html