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Wednesday, July 17, 2024

Vietnam’s tra fish exports to ASEAN surge

The Saigon Times

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HCMC – Vietnam’s tra fish (pangasius) exports to ASEAN have increased strongly and if the pace continues, shipments to the region might surpass the volume shipped to the EU market, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In the year to September, tra fish exports to the market of the Association of Southeast Asian Nations (ASEAN) had brought in over US$152 million, accounting for nearly 8% of total tra exports.

Some top ASEAN buyers of Vietnam’s tra fish include Thailand, the Philippines and Singapore.

Tra fish exports to Thailand by the end of the third quarter had reached over US$70 million, up 81% year-over-year, representing 3.6% of Vietnam’s total tra fish export value. In September alone, tra fish shipments to Thailand jumped by 165% against August.

Meanwhile, tra fish exports to the Philippines made a significant breakthrough in the first nine months, an increase of five times over the same period last year. By the end of the third quarter, tra fish exports to this market had amounted to an estimated US$25 million, up 92%, and accounting for 1.3% of Vietnam’s total.

Singapore ranked second among the ASEAN countries importing tra fish from Vietnam with US$28 million in the January-September period, up 56% year-over-year. In September, Singapore tripled tra fish imports from Vietnam.

Malaysia also spent US$26 million importing tra fish from Vietnam in January-September, increasing 114%.

Other countries in ASEAN, such as Cambodia, Indonesia and Laos, also increased their tra fish imports from Vietnam.

With the current growth rate, ASEAN tends to account for a larger proportion of Vietnam’s tra fish exports, possibly surpassing the figure of the EU market in the near future.

As transportation costs have been rising recently, the ASEAN market is a suitable choice for many tra fish exporting enterprises in Vietnam, such as Nam Viet JSC, Hung Phuc Thinh Food JSC, Van Duc Tien Giang Co., Ltd., and Vinh Hoan JSC.

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