10:21 | 28/05/2018 Trade
Revenues from exports of Vietnamese pangasius to China during the first four months of 2018 soared by 43% over the same period of last year to US$145 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
|China is now the largest importer of Vietnamese pangasius|
This figure means that China has overtaken the United States as the largest importer of Vietnamese pangasius, and the world’s second largest economy will be the focus of Vietnamese exporters in the time ahead.
Vietnam is currently the third largest provider of white fish for the Chinese market, after Russia and Norway.
Data from the International Trade Centre shows that catfish, including pangasius, currently accounts for a mere 5.7 percent of China’s total import of whitefish.
China’s demand for white fish has been forecast to continue growing and there promises to be more room for Vietnamese catfish.
VASEP has also projected that exports of Vietnamese pangasius to China will keep rising compared with 2017 but the growth rate will see a gradual decline as exporters become more cautious due to price, quality, and payment risks.