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VietNam Pangasius Association

Pangasius exports expected to improve this year

Click on the flag for more information about Viet Nam VIET NAM
Wednesday, January 29, 2020, 06:00 (GMT + 9)

Companies faced difficulties in 2019 due to the sharp decrease in pangasius price, with prices even lower than production cost. This year is expected to be a better year for the pangasius industry. The pangasius price is expected to increase slightly in the first months of the year.

Assessing pangasius exports in 2019 as well as in the first months of 2020, Mr. Duong Nghia Quoc, Chairman of the Vietnam Pangasius Association said in the 2017-2018 period, profit was high, so in 2019, households and businesses focused on increasing pangasius production. The high supply put pressure on prices.

Photo: Stockfile

In 2019, pangasius consumption was reduced due to a sharp decline in exports to traditional markets, especially the US.

However, it is expected that in February, the US will announce official results of the 15th pangasius anti-dumping tax review. Previously, at the end of 2019, the US Department of Agriculture announced its decision to recognize the equivalent of Vietnam's catfish food safety control system to export to this country.

“It is considered a good signal to restore pangasius exports to the US market. However, according to businesses, the level of restoration is really insignificant,” Quoc said.

For China, Quoc said the consumption of pangasius in China market prospered since the end of 2019. In 2020, especially near the Lunar New Year, the demand in this market continues to increase.

With positive signs from the two markets, the pangasius export is expected to increase, but the level of increase is insignificant.

Although pangasius exports are expected to be more positive, Quoc said that the competitive pressure on Vietnamese pangasius industry is increasing because China has started raising the fish. In addition, China has also closely controlled the management of pangasius quality and standards, it’s no longer an "easy-going" market.

Photo: Stockfile

In addition to China, countries such as India, Thailand, Bangladesh and Indonesia have also raised pangasius. The output of these countries combined is nearly equal to that of Vietnam pangasius.

According to Quoc, in the future, businesses need to promote trade promotion, expand markets and apply technology to improve quality.

“Particularly, the business community needs to link together, overcome the situation of selling pangasius with any price, causing the price to belower,” Quoc said.

Photo: Stockfile

The competition will increase when exporting pangasius, many people think that the promotion of pangasius consumption in the domestic market is a potential direction for this industry. Regarding this issue, Mr. Duong Nghia Quoc said that this is the right direction.

For example, each person eats 2kg of pangasius per year, thus the whole country consumes 200,000 tons of fish. If this result is achieved, the pressure from export markets will be reduced.

Photo: Stockfile

“To develop in the domestic market, the pangasius industry needs a strong distribution channel. The State needs to issue tax incentives for businesses. At the same time, businesses must also promote communication and trade promotion to make consumers more and more familiar with pangasius products," Quoc emphasized.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in 2019, exports are estimated at nearly USD 2 billion, down 11.7 percent compared to 2018. Pangasius exports to the US market sharply decreased by 49 percent to USD 282 million. Because of high inventories in the market and reduced import demand, the average export price reduced by 30-35% percentcompared to 2018. In 2019, the US only accounted for 14 percent of pangasius value of Vietnam's exports, lower than China's No. 1 position (accounting for over 32%).

Authors:
Nguyen Thanh, Ngoc Loan /Customs News


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