Despite Vietnam’s Tra fish (pangasius) exports to major export markets suffering negative growth, there has been strong signs of growth to both the UK and Singaporean markets in the first half of the year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Despite this slump, both Singapore and the UK represent two rare export markets that have been able to maintain positive growth even during the COVID-19 pandemic.
Most notably, the first half of June saw the export value of pangasius to Singapore, the country’s second largest export market for Tra fish in ASEAN, enjoy a surge of 5.7% to US$18.5 million against the same period last year. Meanwhile, Tra fish exports to the UK market also enjoyed an annual rise of 7.1% to US$28.6 million.
After recording positive growth during the previous three months until May, the export value to China (Hong Kong), the United States, ASEAN, and the EU markets all experienced on-year declines of 11.3%, 51.2%, 57.6%, and 36.2%, respectively.
Pangasius exports to the EU market in the first half of June just raked in US$64.6 million, with the total value to the bloc’s three largest export markets, the Netherlands, Germany, and Spain, decreasing by 32.7%, 37.1%, and 16.7%, respectively.