Tra fish exports to UK market enjoy surge

Vietnamese tra fish (pangasius) exports to the UK have soared by approximately 24% to US$46.75 million during the first eight months of the year, despite enduring a decline in exports to almost all markets as a result of the novel coronavirus (COVID-19) epidemic, according to the Vietnam Association of Seafood Exporters and Producers.

Tra fish exports to the UK see robust growth during eight-month period

The reviewed period witnessed Vietnamese pangasius exports decline by roughly 30% on-year to US$913.4 million due to the negative impact of COVID-19, with the UK market proving to be an exception to this trend.

Most notably, the export price of frozen pangasius fillets to the UK market enjoyed a boost with the average price ranging from US$3.6 and US$3.65 per kilo, whilst the total export value of tra fish to this market increased by 56.3% in August alone.

Despite positive growth to the UK market, tra fish exports to a number of other major markets endured negative growth, with exports to China, the leading consumer of Vietnamese tra fish plummeting by 24% on-year to US$295.8 million.

There were a rising number of enterprises getting involved in exporting tra fish to the Chinese market, with the export value to this market making up a large proportion compared to other major markets such as the United States, ASEAN, and the EU.

Tra fish exports to the US, the country’s second largest export market, witnessed an annual decline of 17.8% to US$154.5 million, with exports to the market rebounding in July and August, a trend which is expected to create a positive outlook for firms ahead in the remainder of the year.

Elsewhere, pangasius exports to ASEAN suffered a fall of 30.3% to US$ 91.3 million, with exports to two major markets, including Thailand and Malaysia, down by 28.6% and 26%, respectively.

It is anticipated that tra fish exports to this market will dip by 20% during the course of this year due to COVID-19 disrupting export activities.