China's economy has improved a lot, but Vietnam's pangasius exports to this country in the first 8 months of the year decreased sharply.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 8 months of this year, pangasius exports to China only reached 406 million USD, down 28% compared to the same period last year. Since the beginning of September, the purchasing power of pangasius from this market has not improved much as China has increasingly reduced its purchases from Vietnam but increased its seafood imports from Norway, South Korea, Australia, and Chile.
Speaking to VnExpress, the director of a tra fish exporting company in An Giang said that purchasing power in the Chinese market is sluggish as consumer demand in hotels, restaurants and eateries has not improved much. Meanwhile, Chinese consumer demand is increasing, they prefer fresh seafood over frozen products.
Not only facing difficulties in exporting, tra fish businesses also said that local farming activities are declining due to high input material prices and increased farming costs, causing farmers to suffer losses.
Navico workers are processing tra fish. Photo: Thi Ha
According to data from export enterprises, the production cost of pangasius is about 26,500-27,000 VND per kg, while the selling price is 300-500 VND lower, so for each hectare of area, pangasius farmers are suffering a loss of about 200 million VND per crop. In the first 9 months of the year, the pangasius export market of enterprises decreased by 20-30% compared to the same period last year, with only about 80 countries and territories. Currently, the average export price of pangasius is only about 2.5-2.6 USD per kg, down from 3.2 USD per kg in the same period last year.
"We are trying to hold on to maintain production because profits have dropped sharply this year," said the director of a business in An Giang.
A recent report from China Customs shows that the country's import and export situation remains stable and only a few industries have seen slight increases. However, according to VASEP, from the fourth quarter - this is the peak of China's trading season - demand will increase again.
Thi Ha
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