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Wednesday, October 5, 2022

Tra fish exports above expectations

By Trung Chanh

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CAN THO – Tra fish (pangasius) exports in the first seven months of the year amounted to US$1.6 billion, nearly the same as the figure in all of 2021 and the forecast for the entire 2022. This higher-than-expected result was attributed to a marked increase in export volume and prices.

A report by the Vietnam Association of Seafood Exporters and Producers (VASEP) showed that the January-July tra fish export value was 79% higher than in the same period last year. In all of 2021, tra fish exports brought in US$1.62 billion.

At a conference on the development of Vietnam’s tra fish farming and processing industry early this year, the Ministry of Agriculture and Rural Development expected tra fish to bring export revenue of US$1.6 billion.

The impressive seven-month performance was buoyed by strong rises in demand and prices.

According to the VASEP report, the EU had imported nearly US$122 million worth of tra fish by mid-July, up 91% over the same period last year and higher than the total of 2021 (US$106 million).

Tra exports to Mexico in the first seven months soared a staggering 73% at US$73.5 million. The average price of frozen tra fillets in this market was US$2.8 per kg, much higher than the average price of US$1.71 in the same period last year.

As for tra exports to Hong Kong and China, revenue in the first half of this year shot up 107% at US$427.6 million. Meanwhile, tra shipments to the U.S. reached US$356 million, doubling that of the same period last year.

In addition to the strong demand, the price of tra fish shipped to China and the U.S. also increased sharply.

The average price of frozen tra fillets exported to China in the first half of the year was US$2.45 per kg, up 37%. Meanwhile, the price in the U.S. was US$4.66, up 66% over the same period last year.

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