Pangasius exports to the UK increase nearly 70%

As the second largest export market of Vietnamese pangasius enterprises, in 2019, the UK continued to be considered one of the main markets of Vietnamese pangasius in the EU.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of the first half of March 2019, the value of pangasius exports to the UK market reached US$11.9 million, increasingby 69.5% compared to the same period last year and making upover 3.1% of total Pangasius exports.

Thus, until now, theUK is the second large export market of Vietnamese pangasius enterprises in Europe.

In the first quarter of 2019, the price of Vietnamese pangasius exported to the UK market is high in the EU. During this time, enterprises are exporting mainly frozen pangasius products to the UK market. This is also the product with the highest export price averaged from US$1.18 to US$5.3per kilo.

In addition, enterprises also export a number of other pangasius products such as frozen portioned Pangasius, frozen pangasius fillet, frozen Pangasius steak and whole pangasius, fish-tail,and organs to the UK market. Notably, the average price of frozen pangasius fillet and steak in this market at the beginning of this year was US$4.3 –US$4.7/kg.

Currently, Vietnam is the 6th largest source of white meat in the UK market (after Iceland, China, Norway, Russia and the Faroe Islands).

Although, in early 2019, frozen Cod fish fillet products (HS code: 030471) accounted for the largest proportion – 54% of the total import of white meat fish of the UK – but imports of frozen pangasius fillet was also increasing in proportion tototal import of white meat fish of this country. In the first quarter of 2019, the value of imports of British frozen pangasius from Vietnam also increased by 48-50% compared to the end of 2018.

According to the forecast of VASEP, this year, the UK continues to be considered one of thecentralmarkets of Vietnamese pangasius in the EU. Import demand is forecasted to grow stably with good prices. These are factors for businesses which want to increase their export market share in the EU in 2019.