Vietnamese pangasius exports plunge in January

The Vietnam Association of Seafood Exporters and Producers (VASEP) reported that tra (pangasius) exports brought in only US$83.6 million in January, down 44% month on month and down 61% from a year earlier.

It’s noteworthy that pangasius exports to all major markets witnessed double-digit drops, with the US market experiencing a decline of up to 81%.

Most notably, export volume to the US market in January recorded a decrease by 76% year on year and by 44% month on month, while the export value only reached US$9.84 million, representing a decline of 40% compared to the previous month.

The average export price of the fish to the market stood at only US$2.97 per kg, down 34% from the same period last year and equivalent to the export price of December, 2022.

Due to the sharp decrease, the US was surpassed by China and the EU, duly dropping to the third largest market for Vietnamese tra fish exports.

As meat and seafood are popular with US consumers, Vietnamese pangasius exports to the US will continue to see bright prospects moving forward thanks to steady market demand and slowing inflation.

VOV