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Tag: catfish

  • Catfish exports to China plummet

    Catfish exports to China plummet

    Pangasius exports to China in the first eight months of this year fell 28%to US$406 million, according to the Vietnam Association of Seafood Exporters and Producers.

    Since September Chinese demand for the fish has not increased much even as it has stepped up imports from Norway, South Korea, Australia, and Chile.

    The director of a pangasius export company in southern An Giang Province said that demand from Chinese hotels and restaurants for catfish is low now.

    Chinese consumers prefer fresh seafood over frozen products.

    Besides difficulties in exporting, Vietnamese pangasius firms are also facing high input and farming costs.

    According to data from catfish exporters, farmers’ production costs are now VND26,500-27,000 (over US$1.1) per kilogram while their selling price is VND300-500 lower.

    The average export price is $2.5-2.6 per kilogram, down from $3.2 a year ago.

    “We are trying to sustain production, but this year profits have dropped sharply,” the export company director said.

    According to VASEP, demand for Vietnamese pangasius will increase again in the fourth quarter, the peak season in China.

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  • Catfish export decline slows down

    Catfish export decline slows down

    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.

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