The average price of Vietnam’s tra fish (pangasius) exported to the US increased sharply in the first quarter of this year to the highest ever level of 4.5 USD per kilogramme, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
HCMCity (VNS/VNA) – The average price of Vietnam’s tra fish (pangasius) exported to the USincreased sharply in the first quarter of this year to the highest ever levelof 4.5 USD per kilogramme, according to the Vietnam Association of SeafoodExporters and Producers (VASEP).
Exports to the market grew by 123 percent year-on-year to 160 million USD sincedemand was high and supply was modest. Increased transportation costs due tothe impact of COVID-19 was a contributing factor to the increase in prices, notonly to the US but to all markets.
Exportsto the EU market fetched 2.9-3.45 USD per kilogramme.
Total exports topped 646 million USD, year-on-year growth of 88 percent,according to VASEP.
The high global demand drove up the average export price of frozen pangasiusfillet to 3.4 USD, 0.25 USD higher than in January this year.
In the Chinese market too, prices are much higher than last year, ranging from 2.4USD to 3.25 USD per kilogramme compared to 1.9 - 2.7 USD a year earlier.
After falling for many exports to the EU jumped by 86.2 percent in the firstquarter of 2022 to 46.7 million USD, with huge increases seen in shipments toall the major markets in the bloc like the Netherlands (86 percent), Germany(97 percent), Belgium (120 percent), and Spain (67 percent).
It is forecast that the demand for essential goods, including food and seafood,will increase sharply in the EU providing a good opportunity for Vietnamesecompanies to export frozen pangasius, VASEP said.
In the second quarter too exports to these major markets are likely to risesharply due to a shortage of cod and pollock supply from Russia.
Duong Nghia Quoc, Chairman of the Vietnam Pangasius Association, said China haslarge demand for Vietnamese pangasius, and, along with the promotion of traderelations between the two countries, it is also essential to provide informationabout China’s zero-COVID policy and food safety and hygiene regulations tolocal businesses.
The price of commercial pangasius in the domestic market rose by 40 percentthis year to 30,000 VND per kilogramme./.
The export of aquatic products recorded strong growth last month although the Russia-Ukraine crisis has disrupted shipments to the two European countries since late February and caused spikes in shipping costs and input expenses, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The Vietnam Association of Seafood Exporters and Producers (VASEP) has forecast a bright future for the tra fish industry this year on the back of strong demand from major markets including the US, Europe and Asian countries.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
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