EU’s import demand for pangasius still increases

According to data of Vietnam Customs, in the first half of November 2023, pangasius exports to the EU reached over 6 million USD, down 24% compared to the same period last year. As of November 15, 2023, the EU has purchased more than 150 million USD worth of pangasius from Vietnam, down 17% compared to the same period in 2022.

Accumulated in the first 10 months of 2023, Vietnam pangasius exports to the EU market reached nearly 144 million USD, down 17% compared to the same period last year. Notably, in September and October 2023, pangasius export turnover to the EU continuously grew by 10-11% over the same period in 2022. In particular, Germany has increased Vietnam’s pangasius imports by 2.5 times in both September and October 2023, reaching 5.5 million USD and 6.3 million USD, respectively. This is also the highest value of this country since the beginning of this year in terms of pangasius consumption. However, the average FOB price of pangasius exports in October 2023 has not shown signs of recovery when it is only at 2.41 USD/kg, the lowest price in the first 10 months of this year.

By the end of October 2023, Vietnam’s pangasius exports to the Netherlands reached 37 million USD, down 21% over the same period last year. Despite being the top 1 Vietnam’s pangasius import market in the EU, in October 2023, import into this country has fallen to the lowest level since the beginning of this year, down 27% and reaching just over 2 million USD.

As of November 15, 2023, the Netherlands temporarily leads the EU bloc in importing Vietnam‘s pangasius with over  39 million USD, down 21% over the same period last year. In the first half of November 2023 alone, the country has consumed nearly 2 million USD of Vietnamese pangasius products. Although the export value to the Netherlands in the first half of November decreased by 29% over the same period, the Netherlands still left other countries in the bloc behind in terms of consuming Vietnamese pangasius.

In the first half of November 2023, the export value of pangasius to Germany is only 600 thousand USD. Meanwhile, in October 2023 alone, the Europe’s largest economy consumes more than 6 million USD of Vietnamese pangasius.

According to data of the International Trade Center (ITC) updated by September 2023, Germany bought nearly 8,000 tons of white fish (mainly pangasius) from Vietnam, worth more than 32 million USD. This number surpasses the volume that Germany imported from Vietnam in 2022. Vietnam is the world’s 4th largest supplier of white fish to Germany, after China, the US and Norway.

Vietnam’s pangasius exports is gradually recovering to the EU. Customers in this market bloc are becoming more and more carefull and selectivel in choosing food, especially German consumers. Exports to the EU market have prospered in the last months of 2023 while the average export price still witnessed a decline, showing that consumer demand has not decreased.