The target of exporting pangasius this year reached 2.3 billion USD, in which, besides stabilizing exporting to US & China markets as usual, companies are going to boost their exports into European market.
Vietnam Association of Seafood Exporters and Producers (VASEP) has just launched an assessment of the advantages and disadvantages in 2019 to provide an export plan for each specific industry, including pangasius industry. In 2018, it was a favorable year for pangasius with an impressive growth in export turnover in major markets such as the US, China due to the increase in raw material prices leading to a sharp increase in export prices.
In the US market, due to the preliminary tax of POR14 is much lower than POR13 and FSIS has proposed that the US government recognizes that Vietnamese pangasius has been eligible for exporting to the US market, which has promoted pangasius export to the market, increased from 344 million USD in 2017 to over 530 million USD in 2018, nearly 54%.
In the Chinese market, due to increasing demand for pangasius fish from high-level customers, pangasius export also maintains a growth rate of 24% with a turnover of 510 million USD. The EU market is relatively stable and grows 10% with a turnover of nearly 235 million USD.
However, Vietnamese pangasius industry has many big barriers in last year such as anti-dumping tax, catfish inspection program or the latest US SIMP program had created great pressure for companies exporting seafood into these markets.