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Despite economic downturn, pangasius export to Germany experiences growth

xuat Khau Ca Tra Sang Duc Tang Truong Du Suy Thoai

(vasep.com.vn) According to the statistics from Vietnam Customs, considering only the first half of July 2023, the export of pangasius to Germany reached nearly 2 million USD, equivalent to the export value for the entire month of June 2023, despite still decreasing by 14% compared to the same period last year.

xuat Khau Ca Tra Sang Duc Tang Truong Du Suy Thoai
Source: www.vasep.com.vn

As of July 15, 2023, the pangasius export to this European Union nation has reached nearly 20 million USD, showing a 32% increase compared to the same period in 2022, contributing 1/5 of the total import value of the EU. Similar to markets such as Hong Kong, Singapore, Canada, Japan, Saudi Arabia, Colombia, the Philippines, Germany accounts for about 2% of the overall pangasius export value from Vietnam to various markets.

Like other markets within the EU bloc, Germany’s import consists mainly of frozen pangasius products, including fillets and frozen cuts (HS0304). For frozen pangasius products, specialized importers import via container ships. Simultaneously, they sell pangasius directly to relevant market segments or the first value-added segments for pangasius products before introducing them to the market. Retail and food services in Northern Europe through importers and wholesalers constitute the final market segments in Europe for pangasius.

In July, Germany recorded an inflation rate of 6.2%, 0.2% lower than the previous month, yet higher than the average inflation rate in the Eurozone. The largest economy in Europe is forecasted to contract by 0.3% this year due to factors like rising prices, increasing interest rates, declining retail sales, and prolonged high inflation in the context of an economy that has not fully recovered from consecutive crises over the past 3 years. However, despite these challenges, Germany is still considered a positive destination for Vietnam’s pangasius exports.

Leading the list of pangasius exporting companies to Germany in the first 6 months of the year is still Vinh Hoan, accounting for 20%, followed by GODACO at 13%, Hung Ca at 11%, Hung Ca 2 at 9%, Dai Thanh at 9%, and Van Duc Tien Giang at 7%,…

Currently, the pangasius industry is facing many difficulties. Key export markets for pangasius such as China, the United States, the EU, and CPTPP countries have all been declining in the first two quarters of 2023. Although the decline has been narrowing as the months progress, achieving positive growth depends on various factors such as inventory levels in different markets, pangasius raw material prices, the state of conflicts, inflation, and more. Therefore, Germany’s increase in the import value of Vietnamese pangasius from the beginning of the year until now is also one of the positive signs for pangasius exporting companies.

Source: vasep.com.vn

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