MEKSEA.COM – In the first 3 months of 2022, Vietnam’s shrimp and pangasius exports showed many positive signs.

Warning of pangasius raw material shortage

Vietnam’s shrimp exports to many markets such as the US, EU and CPTPP showed many positive signs in the first months of 2022. However, exporting to China is affected by the political situation and Zero Covid policy.

Vietnam’s pangasius exports showed many positive signs in the US, EU and CPTPP in the first months of 2022. (photo: Internet)

Recently, pangasius farmers in the Mekong Delta provinces are happy because the price of fish is purchased higher than before the Lunar New Year, this is also the motivation for farmers to continue stocking a new crop with high quality, to meet the needs of consumers. However, due to the prolonged epidemic, the price of fish feet increased, fuel prices increased and many related items also increased. Therefore, affects the yield at the end of the crop inevitably.

According to farmers and pangasius businesses, the reason for the sharp increase in pangasius prices is the “empty pond” the supply of raw fish for export was in short supply. This leads to the supply falling short of the demand.

Currently, pangasius is very high, therefore, farmers earned higher profits than before Lunar New Year. It is forecasted that in the coming time, fuels prices and the high price of animal feed, so the price of pangasius will continue to increase.

In the first two months of this year, the total export value of Vietnam’s pangasius exports reached 384.8 million USD, up 93.6% (photo: Internet)

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s pangasius exports also have a positive signal in most major markets. In the first two months of this year, the total export value of this item reached 384.8 million USD, up 93.6%. By the end of February, the total value of pangasius exports to the US reached 94.57 million USD, up 119.7%. After the US Department of Commerce (DOC) announced the preliminary results of the 17th review and the latest is the final result of the POR17 anti-dumping tax on frozen pangasius fillets imported from Vietnam, more Vietnamese pangasius enterprises enjoy 0% tax on the US market. Therefore, it is forecasted that the export value of pangasius to this market in the coming time will continue to grow strongly.

Learn more: Top 4 leading pangasius imports market of Vietnam in the first 2 months of 2022

After 2 consecutive years, pangasius exports to the EU decreased, and many Vietnamese enterprises withdrew from this market. Before the Covid-19 epidemic broke out in Europe, pangasius exports to this market group had a sharp decline for many consecutive months. But in the first two months of this year, pangasius export value to the EU reached nearly 28 million USD, an increase of nearly 76%.

Vietnam’s shrimp exports are expected to reach 4 billion USD

According to records from the Mekong Delta provinces, in the first months of 2022, Vietnam’s shrimp exports remained at a high level. In which, Ca Mau province, export turnover reached 165 million USD, up 101% over the same period last year, in Bac Lieu province reached over 113 million USD, up more than 6% over the same period last year.

Currently, most farmers have renovated their ponds, not emptying ponds like when prices were low. Fortunately, this year the weather is favorable and the prices are high, so the last harvest was most profitable.

Vietnam’s shrimp exports are forecast to increase by 3% in 2022. (photo: Internet)

According to VASEP, Vietnam’s shrimp exports in the first two months of this year increased well in all major markets such as the US, EU, Japan, Korea, China, UK, etc. The US continued to be Vietnam’s largest Vietnam’s shrimp import market, accounting for 21% of the country’s total shrimp export value.

Read more: Vietnam’s shrimp exports are forecast to increase by 40% in the late March 2022

Currently, the US market has reopened after Covid-19, the demand for seafood imports, including Vietnamese shrimp, has continuously increased.

Shrimp exports to China also showed signs of recovery, reaching 39.7 million USD (up 14%). In 2022, it is forecasted that China’s shrimp imports will increase sharply, but this market is very strict. Therefore, in order to import shrimp into this country, Vietnamese enterprises need to ensure the control and prevention of the Covid-19 epidemic during production and export.

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After a long time of expectation and waiting, recently, the 40th Seafood Boston Show took place in mid-March, 2022 in the US. During three days at the exhibition, Meksea’s team had the opportunity to welcome more than 400 partners & customers from many different markets, and receive more than 200 inquiries and many value supply agreements. We have shared and exchanged openly about current market situation, seafood demands, future trends and more cooperating opportunities. Meksea will always strive to contribute more value to our worldwide partners. > Read more

By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: Vasep)

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