Category

Vietnam’s pangasius exports to the EU are gradually returning to the race

4msxe 1647657969356292765539

(www.vasep.com.vn) As of the end of April 2023, the export value of Vietnamese pangasius to the EU reached $60 million, a decrease of 8% compared to the same period in 2022, accounting for 11% of Vietnam’s pangasius exports. In the month of April 2023 alone, pangasius exports to this market reached $15 million, a decrease of 21% compared to the previous month and an 18% decrease compared to the same period last year.

4msxe 1647657969356292765539
Source: thanhnien.vn

Notably, as of the end of April 2023, the Vietnamese pangasius export industry witnessed most markets within the EU reducing their imports of this product, with the lowest decline being 13% and the highest being a 30% decrease compared to the same period last year. The top three main markets within the bloc that decreased their import of Vietnamese pangasius are the Netherlands (down 22%), Belgium (down 13%), and Spain (down 30%). In contrast, the German market appears more optimistic, still recording a positive growth of 78% in the first four months of this year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the EU was once the largest import market for Vietnamese pangasius, with a peak sales figure of $511 million in 2010, accounting for 36% of Vietnam’s pangasius exports. However, in the following years, pangasius exports to this market sharply declined due to smear campaigns against Vietnamese pangasius in some European countries.

In 2022, Vietnamese pangasius exports to the EU experienced strong growth due to increased demand following a long period affected by the COVID-19 pandemic. Particularly, the advantages of the EVFTA agreement played a role while the Russia-Ukraine conflict and a series of sanctions against Russia affected the economy and trade, increasing the EU’s demand for whitefish imports from Vietnam.

Although pangasius exports to the EU in the first four months of this year decreased compared to last year’s period, they were higher than the corresponding period in previous years. “This is also a notable figure in the step-by-step effort to bring Vietnamese pangasius back on track after decades of being ‘faded’,” assessed VASEP.

However, the different regulations in each market within the EU remain a challenge for Vietnamese seafood, including pangasius, when exporting to the EU. Enterprises need to thoroughly understand and utilize the customs duty preferences and apply the rules of origin effectively when exporting pangasius to the EU market.

Source: Thu Hằng – VASEP

Read more on the same topic

REGISTER FOR CONSULTATIONS

We are glad that you preferred to contact us. Please fill our short form and one of friendly team members will contact you back shortly.

    * Usually respond within 24 working hours.

    X