Vietnam's exports of domestic pangasius are gradually recovering.

DNHN - According to the Vietnam Association of Seafood Exporters and Producers, the export value of pangasius to certain major markets in June 2023 is gradually closing the gap with the value attained by the industry during the same period in 2022.

Specifically, if the export volume of Vietnamese pangasius to China and Hong Kong fell by 66% in April 2023, it fell by 30% in May 2023 compared to the same month in 2022 and fell to 15% in June. This country of billions of people consistently ranks as Vietnam's No. 1 market for pangasius consumption. This narrowing of the gap is one of the positive indicators for the Pangasius export industry.

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In June 2023, the value of Vietnamese pangasius exports to the U.S. market reached US$23 million, a decrease of 51% compared to the same month the previous year. Although negative double-digit growth was still recorded in June 2023 compared to the previous two months, the gap has shrunk. In particular, pangasius exports to the United States decreased by 53% in May 2023 and 66% in April 2023 compared to the same period in 2022. In the first five months of 2023, the average price of Vietnamese pangasius exports to the US market decreased by 30% compared to the same period in 2022, reaching $3.3 per kilogram.

The US Department of Commerce reported that the Personal Consumption Expenditure (PCE) index increased by 3.8% compared to the same period last year in May 2023, a significant decrease from the previous month's increase of 4.3%. In addition to the inflation factor, which decreases consumption demand in the United States, the large inventory issue has caused Vietnam's seafood exports to this market to decline. The price of products from the depleted stock decreased, causing new imported goods to become more competitive and decrease in price.

Vietnam's exports of pangasius to CPTPP markets reached 21 million USD in June 2023, a decrease of 39 percent compared to the same month the previous year. The bloc's markets also reduced pangasius imports from 23 to 55%.

Ngoc Phi (TH)

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