Tra fish exports to the UK soar

Tra (pangasius) fish exports to major markets has decreased, except for the UK, which increased by 23.8%. The UK is the Vietnam’s largest Tra fish importer since the beginning of the year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as at the end of August 2020, the total Tra export turnover hit US$913.4 million, falling 30% year-on-year. Of which, the export turnover to major export markets decreased, except for the UK, which saw a 23.8% year-on-year increase.

The UK is Vietnam’s largest Tra fish importer in 2020. While the export value of many markets slumped due to the Covid-19 pandemic, the Tra fish exports to the EU still grew positively. Moreover, the export price of frozen pangasius to this market in the first eight months increased. Particularly, in August, the export value sawa 56.3%year-on-yearincrease.

The China-Hong Kong market is considered Vietnam’s largest pangasius export market, but the total export value to this market only reached US$295.8 million, a 24% year-on-year decrease.

Although the total export value to China-Hong Kong market fell, the number of enterprises exporting Tra fish to this market is still significant. The export value of Tra fish to the market is still nearly equal to the total value ofthree major markets, including the US, ASEAN and EU, accounting for 32.4% of the total exports to nearly 130 markets.

The reduction in the import of fishery products by China, including Tra fish products in the first months of this year, has causedthe export value to this market to drop.

For the US market – the second largest export market – in the last two months, the export value to the market tends to increase. The export value increased by 4.4% in July and 2.4% in August compared to the same period in 2019. This figure can raise hopes for enterprises exporting Tra fish in the last quarter of the year.

As of the end of August, the total tra fish exports to the US reached US$154.5 million, falling 17.8% year-on-year.

Contrary to the forecasts of VASEP on the growth of Tra fish exports to this market in 2020, the Covid-19 pandemic has changed the Tra fish exports to ASEAN markets for many months. Previously, the export value dipped in many months, so it is expected that the total export value to this market in 2020 will decrease by 20% year-on-year.

In the first eight months of the year, the total export value of Tra fish to ASEAN reached US$91.3 million, falling 30.3% year-on-year. The export value to the Thailand market deceased by 28.6%, to Malaysia fell nearly 26%, the export to Singapore was similar to the same period last year.