Pangasius processing plant. (Photo: seafoodfromvietnam)

Pangasius sales to EU fall

VIET NAM
Monday, September 03, 2012, 05:50 (GMT + 9)

Vietnamese pangasius export to the European Union (EU) dropped nearly 27 per cent in January-June 2012 compared to the same period of 2011. This trend is expected to continue for the rest of the year given the downtrodden European economy, said the Vietnam Association of Seafood Exporters and Producers (VASEP).

In June 2012, Vietnam pangasius exporters earned USD 134.1 million of sales abroad, down 14 per cent compared to the previous month. The fish industry totalled USD 853.7 million of export revenue in the first half of 2012, a slight rise of 3 per cent from the same period of 2011.

Fish sales to four key markets (including Spain, the Netherlands, Germany and Italy) fell in June, though Italy still saw a growth of 10.8 per cent to USD 3.4 million in May.

Spain was the largest pangasius-consuming market in the EU. In June, its imports skid by 32 per cent to USD 7.4 million.

Due to this shift, fish imports into Spain only reached USD 48.4 million in the first two quarters of the year, equal to 35 per cent less than in the same period of 2011.

After a positive rise in the first months of 2012, fish trade with Spain began to fall staring in May. Further, the Spanish economy is facing greater financial difficulties.

This makes it difficult for the Vietnam pangasius industry to improve fish exports to Spain in the third quarter.

Similarly, the Netherlands -- Vietnam’s second-biggest pangasius importer in the EU -- fell in import value by 35 per cent to USD 5.7 million in June. Year-to-date earnings from this market have been around USD 38.5 million, down 25 per cent.

Germany reported the sharpest drop at 45 per cent to USD 27.6 million among the four countries.

Italy was the only importer recording positive growth in May, but its pangasius imports immediately fell by 13.5 per cent to USD 3.5 million in June due to a tough economic trend in the EU in combination with existing difficulties in Vietnam’s pangasius industry.

Some importers in Europe say that slowing sales have also occurred in many other seafood and food products. While consumption may rebound in the last months of the year, it would not be by much, as the region is still dealing with financial challenges and fewer profits made by both importers and retailers.

In the first six months of 2012, Vinh Hoan Corparation remained the leading pangasius exporter of Vietnam with total revenues of over USD 72.4 million. It was followed by Hung Vuong Corporation with more than USD 60.2 million.

In the third place came Agifish with USD 49.2 million followed by Anvifish Co in the fourth spot with USD 44.1 million.

Next came NTSF Seafoods in the fifth spot with USD 27.97 million and Navico followed in the sixth spot with USD 27.5 million.

Related article:

- Country on track to meet its export target: VASEP

By Natalia Real
editorial@fis.com
www.fis.com

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