China still leads in importing Vietnamese pangasius

According to statistics of Vietnam Customs, by the end of June 2023, Vietnam’s pangasius exports to China and the US reached 281 million USD, down 34% compared to the same period last year.

In June 2023, China & HK imported 48 million USD of pangasius from Vietnam, down 4% compared to May 2023, down 15% over the same period last year. The 15% decrease in June was lower than the decrease of the previous months (April and May recorded a decrease of 30% – 60%).

From 2020 to now, China & HK have always maintained the No. 1 position in importing Vietnamese pangasius. Compared to the main markets, China & HK maintained the highest growth.

Pangasius hypophthalmus

After a period of continuous decline from September 2022 to January 2023, the average export price of pangasius to this market was stable in the following months. The average price of Vietnamese pangasius exports to China in the first 5 months of 2023 ranged from 2.11 USD/kg – 2.29USD/kg, down 10% over the same period in 2022. In May alone, the average price averaged 2.29USD/kg, up 0.4% month on month.

Consumption demand has declined, with inflation remaining near 0% in China. Businesses and consumers expect further price drops, delaying spending and leading to a significant decrease in goods consumption. Both the consumer price and producer price indexes indicate a continued weakening of the world’s second-largest economy in May, negatively affecting pangasius exports to this market in the first half of the year.