IN THE FIRST 4 MONTHS OF 2023, THE EU MARKET ACCOUNTED FOR 11% OF VIETNAM'S PANGASIUS EXPORTS

Logistic News

IN THE FIRST 4 MONTHS OF 2023, THE EU MARKET ACCOUNTED FOR 11% OF VIETNAM'S PANGASIUS EXPORTS

05 June 2023

By the end of April 2023, Vietnam's pangasius export turnover to the EU market reached 60 million USD, accounting for 11% of the proportion of Vietnam's pangasius exports.

According to the Vietnam Association of Seafood Exporters and Producers, by the end of April 2023, Vietnam's pangasius export turnover to the EU market reached 60 million USD, down 8% compared to the same period in 2022, up 70%. over the same period in 2021 and accounted for 11% of Vietnam's pangasius exports.

In April 2023 alone, pangasius exports to this market reached 15 million USD, down 21% compared to the previous month and down 18% compared to the same period last year.

Notably, by the end of April 2023, Vietnam's pangasius export industry witnessed most markets in the EU reduce imports of this item, the lowest decrease was 13%, the highest was 30 % compared with the same period last year.

Top 3 main markets in the block to reduce imports of Vietnamese pangasius are: the Netherlands down 22%, Belgium down 13%, Spain down 30%. Meanwhile, the German market is more positive, still recording a positive growth of 78% in the first 4 months of this year.

The EU used to be Vietnam's largest pangasius import market with sales peaking at USD 511 million in 2010, accounting for 36% of Vietnam's pangasius exports. However, in the following years, pangasius exports to this market decreased sharply due to media campaigns smearing pangasius in some European countries.

In 2022, Vietnam's pangasius exports to the EU will experience a breakthrough growth due to a sharp increase in demand after being affected by the Covid-19 epidemic for a long time.

In particular, the incentives from the EVFTA Agreement promote advantages while the Russia-Ukraine conflict and a series of sanctions imposed by other countries on Russia's economy and trade have increased the EU's demand for meat imports. white from Vietnam.

Pangasius exports to the EU in the first 4 months of this year decreased compared to the same period last year, but compared to the same period in previous years. This is also a remarkable number in the effort to gradually bring Vietnamese pangasius back to the road racing after decades of being "faded".

However, the fact that each market in the bloc has its own controls is one of the obstacles for Vietnamese seafood when exporting to the EU, including pangasius.

Businesses need to learn carefully, in order to make the most of tariff preferences, as well as best apply the rules of origin when exporting pangasius to the EU market.

Source: congthuong.vn