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Jump in Vietnamese pangasius exports during 2006
Developments in farmed pangasius (Pangasius bocourti / P. hypophthalmus) production in Vietnam along with buoyant international whitefish demand are reflected in a significant increase in export volumes and values for Vietnamese pangasius products during the first four months of 2006. Compared to January-April 2005, Vietnamese volume exports of pangasius (all categories) jumped by over 150% to 83 000 tonnes while the value of exports rose by 140% to $200 million, according to Vietnamese trade figures. For 2005 as a whole, total Vietnamese pangasius exports amounted to 141 000 tonnes worth $328 million.
The 2006 increases mark an acceleration in the upward trend in Vietnamese exports which has been evident over the past five years. They are also evidence of the expanding role of pangasius products in international whitefish markets, a role reflected in increasing penetration among European retail chains.
Upward trend in Vietnamese pangasius production and trade
In line with an expanding production area devoted to pangasius farming, Vietnamese output has increased strongly over the past ten years. From 40 000 tonnes in 1997, farmed volumes passed the 200 000 tonne mark in 2004. For 2005, volumes are estimated to have increased by a further 47% to 376 000 tonnes.
Vietnamese pangasius export trends have followed the positive production direction. The 2006 trade increases, however, appear to mark an acceleration in the upward export trend which has been evident over the past five years. They are also evidence of the expanding role of pangasius products in international whitefish markets, a role reflected in increasing penetration among European retail chains.
Sales to Russia and EU markets up significantly
Russia and the EU account for the greater share of the increase in Vietnamese exports this year. Sales to Russia jumped from less than 500 tonnes during the first four months of 2005 to 16 000 tonnes during the same period this year. At this level, Russia has become the largest national market for the Vietnamese product.
The EU, at over 37 000 tonnes, is the largest regional market for Vietnamese pangasius exporters with trade figures pointing to a tripling of sales to this market during the early months of 2006. Together, Russia and the EU accounted for almost two thirds of Vietnamese exports during the period in both volume and value terms.
Among EU markets, Vietnamese trade figures point to large increases in sales to Poland, Spain and the Netherlands this year. At 10 000 tonnes, Poland was the largest customer within the EU during the first four months of 2006 with Vietnamese exports to this market jumping from less than 1 000 tonnes during the January-April period 2005. Sales to Spain doubled over the period to 7 000 tonnes while volumes to the Netherlands were up from less than 300 tonnes to over 5 000 tonnes.
Increased Vietnamese pangasius sales to Europe are reflected in a greater visibility for the species at consumer level among the major retail chains. Pangasius products are marketed at retail level mainly as fillets either in frozen cabinets or on chilled counters. The shift from marginal to more mainstream status for pangasius fillets is reflected in an increasing use of the product in retail promotional activities.
The increase in exports to European markets contrasts with declines in Vietnamese volume sales of pangasius to China (-22%), the USA (-4%) and Australia (-7%). These declines were, however, more than balanced by the European increases as well as by increased exports to other Asian markets excluding China. Once the main destination for Vietnamese pangasius, the US decline this year confirms the steady downward trend in Vietnamese exports to this market since 2003.
Growth potential for pangasius remains positive
The outlook for further growth potential for pangasius products appears positive. Consumer interest in balanced protein diets should mean continued buoyancy in whitefish markets. With relatively static or declining supplies of traditional whitefish species, market interest in price competitive aquaculture products such as pangasius should continue to expand. On the production side, adaptation to a larger scale market situation will remain a key challenge for the Vietnamese industry over the medium term.
By Gerry O'Sullivan
© FAO GLOBEFISH 2006
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