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Pangasius processing. (Photo Credit: VASEP)

Value-added pangasius product exports obtain higher revenue in Q1

Click on the flag for more information about Viet Nam VIET NAM
Monday, May 12, 2014, 03:00 (GMT + 9)

Vietnamese pangasius exports reached USD 388.5 million in the first quarter of 2014, representing an increase of 5.2 per cent year on year. Pangasius products were sent to 126 countries and territories in the world, compared to 123 markets reported a year ago, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).

VASEP informed that the increase in sales was seen in the case of value-added seafood products, which obtained a 54.9 per cent rise (USD 3.55 million) in the first quarter this year.

In the tra fish sector, exporters mainly provided frozen fillet fish, which produced USD 405 million, representing a 4.9 per cent rise year on year.

According to the association, the United States was the leading pangasius importer of Vietnam with USD 84 million (20.5 percent), followed by the European Union with USD 83 million (20.3 per cent).

In addition, VASEP remarked that there was a drastic increase of Vietnam shrimp exports to the EU, which reached USD 111.9 million (97.9 percent). Germany, Belgium, France, the UK and the Netherlands took the lead in the bloc in importing shrimp from Vietnam, making up 83.5 percent of the country’s total shrimp exports to EU.

In the first quarter of 2014, Brazil increased imports of pangasius from Vietnam as it was reducing consumption of Alaska pollock. 

VASEP highlighted that in February this year the US president Barack Obama officially launched the Farm Bill 2014; in which there was a provision to shift the inspection of catfish – including pangasius from Vietnam – from US Food and Drug Administration (FDA) to US Department of Agriculture (USDA).

The release also informs that US Department of Commerce (DOC) has officially issued the final results of the ninth antidumping duty administrative reviews on certain frozen pangasius fillets imported from Vietnam. The period of review (POR) extends from 1 August, 2011 through 31 July, 2012. It was concluded that most exporters to the US are subject to a higher anti-dumping duty on their frozen pangasius fillets and that only companies with low tax rate could send cargos to this market.

Related articles:

- Congress to discuss double inspection on imported catfish
- Vietnamese catfish producers not impacted by US farm bill this year

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