Catfish export decline slows down
In this article (4)
According to the Vietnam Association of Seafood Exporters and Producers, the decline in pangasius fish exports has started to reverse.
Exports to mainland China and Hong were worth US$48 million in June, down 15% from the same period last year. They had declined by 66% and 30% in April and May.
Similarly exports to the U.S. last month were down by only 51% to $23 million compared to 66% and 53% in April and May.
In the first half of the year, overall exports were 38% lower at $885 million due to weak demand in major export markets such as China, the U.S. and Europe due to high inflation.
The prospects of higher demand for pangasius in the U.S. and China in the second half are still uncertain due to the slow economic recovery and large inventories in those markets, SSI Securities Corporation said.
But Vietnamese exporters will start to see profits improve thanks to lower input and transport costs.
Questions & Answers
Q.Which markets are still causing concern for pangasius export demand?
Which markets are still causing concern for pangasius export demand?
Demand prospects for pangasius in the U.S. And China remain uncertain due to slow economic recovery and large inventories in those markets. This suggests potential ongoing challenges for exporters.
Q.What is the reason for the overall decline in pangasius exports in the first half of the year?
What is the reason for the overall decline in pangasius exports in the first half of the year?
Overall exports for the first half of the year were down by 38%, totalling $885 million. This decline is attributed to weak demand in major export markets, including China, the U.S., and Europe, largely due to high inflation.
Q.What factors are expected to improve profits for Vietnamese pangasius exporters?
What factors are expected to improve profits for Vietnamese pangasius exporters?
Vietnamese exporters are anticipated to see an improvement in their profits. This positive change is expected thanks to a reduction in both input costs and transport expenses.