In the first eight months of 2022, frozen pangasius fillets account for 87% of pangasius export value to the US. Vietnam is estimated to export about 94 thousand tons of frozen pangasius fillet well trimmed to the US during this period.
After a deep decline in July 2022, pangasius exports in August recovered slightly. Pangasius exports to the US reached 33 million USD, up 45% over the same period. However, according to the Vietnam Association of Seafood Exporters and Producers (VASEP), this growth figure does not reflect a positive trend because August 2021 is when pangasius exports fall deeply due to the impact of the pandemic. Of the Covid-19 pandemic. Pangasius sales to the US in August were slightly higher than the low of nearly $32 million in July.
In the first eight months of 2022, frozen pangasius fillets accounted for 87% of pangasius export value to the US. It is estimated that Vietnam exported about 94 thousand tons of frozen pangasius fillets to the US during this period. The average price of frozen pangasius fillets exported to the US in August 2022 remained high at 5 USD/kg. However, after reaching a high level from March to May with a volume of about 13.5-16 thousand tons/month, pangasius exports to this market began to slow down from June, falling to the lowest level in the month. Seven and slightly recovered in August.
According to statistics from the US Department of Agriculture, in the first seven months of this year, the US imported a total of 95.4 thousand tons of frozen pangasius, worth nearly US$ 403 million, up 35% in volume and 106% in value compared to the previous year. With the same period last year.
Imports of frozen pangasius from Vietnam to the US reached 88.2 thousand tons, worth 371 million USD, up 34% and 109%, respectively, over the same period last year. Vietnam accounts for over 92% of frozen pangasius imports to the US, both in volume and value.
Currently, the amount of inventory in the US has increased, and the flow of goods is congested at ports, causing importers to start curbing the demand for goods. It is estimated that in August, Vietnam’s frozen pangasius fillets exported to the US reached about 6.7 thousand tons, higher than in July but much lower than in the first months of the year.
According to VASEP, US pangasius imports may gradually increase in the coming months when food price inflation in general and seafood, in particular, make the US market more unsafe and, at the same time, enter the cycle. Period of increased demand for the upcoming Christmas and New Year.