Vietnam’s pangasius exports to EU rebound after decline

The export value that Vietnam gains from exporting pangasius to the European Union has soared after several years of decline.

According to latest data from Vietnam Association of Seafood Exporters and Producers (VASEP), the country exported pangasius worth USD 139.1 million (EUR 119 million) to the European Union from January to July 2018, up 16.5 percent from last year.

The European markets that saw some of the biggest increases included the Netherlands, with USD 38.1 million (EUR 32.6 million), up 43 percent year-on-year; and Italy, with USD 14 million (EUR 12 million), up 83.1 percent year-on-year.

A representative from Vinh Hoan – the top global exporter of pangasius from Vietnam – confirmed this latest export value increase with SeafoodSource during the Vietfish conference and exhibition, taking place in Ho Chi Minh City, Vietnam, from 22 to 24 August.

“In the beginning months of this year we were not able to fully meet demand from Europe due to material shortage. The surge in export value is understandable because they have to add new volumes when storage runs out,” according to the Vinh Hoan representative.

Feedback from various supermarkets in the E.U. has also shown an increase in consumption of Vietnamese pangasius.

“The increase could have been higher if we were able to provide more supply,” the Vinh Hoan representative added, attributing the rise to Vietnam’s marketing efforts to raise the good image of pangasius in the European Union.

At least two other sales executives from two major pangasius exporters confirmed the value of sales to the E.U. has risen recently.

“Our sales to E.U. have been quite good so far and we plan to export more for the rest of the year,” one executive said.

In contrast, the value of exports from Vietnam to the bloc had experienced a continuous nosedive from 2012 following what Vietnam called “fake news” in Europe against the products from Mekong Delta. In 2017, the country saw another dip, exporting pangasius worth USD 203 million (EUR 173.7 million) to the European Union, down 22.2 percent from 2016.