SINGAPORE - BRIGHT SPOT IN VN PANGASIUS EXPORTS TO ASEAN

(seafood.vasep.com.vn) As of mid-July 2020, the total value of pangasius exports to the ASEAN market reached US$73.1 million, down 32.4% over the same period in 2019. The export value to the three largest single markets was as follows: Thailand went down by 33.2%; Singapore rose by 3.3%; Malaysia hiked by 31.3% compared to the same period in 2019. In particular, Singapore was a bright spot in export pangasius to this area.

In the first quarter of 2020, the export of Vietnamese pangasius to ASEAN decreased slightly, then from the second quarter, the export value to this market contracted even more strongly due to the COVID-19 pandemic.

At the beginning of this year, Thailand was the largest pangasius exporter in the block, accounting for 41% of the total export value to the whole block. In the second quarter of 2020, the export value to Thailand dropped sharply, the country only accounted for 13 % of the total value of pangasius exports to ASEAN. Singapore rose to become the largest pangasius importer of the region in the three months of the second quarter, accounting for 44.8% of the total value of Vietnamese pangasius exports to ASEAN in this quarter.

In Q2/2020, while most of export value to ASEAN and EU markets decreased, export value to Singapore elevated by 38.5% to nearly US$13 million. As of mid-July 2020, the total value of pangasius exports to the Singapore market reached nearly US$21 million, up 3.3% over the same period in 2019.

There were nearly 50 pangasius enterprises exporting to ASEAN in the second quarter of 2020, of which nearly 40 companies export pangasius to Singapore. Huong Phuc Thinh, IDI CORP, and TG CORP were the three companies with the largest value of pangasius export to Singapore during this period.

During this time, Vietnam exported outstanding pangasius products such as frozen pangasius fillets, dried pangasius bubbles; frozen cube pangasius fillet; frozen cut pangasius fillet, tempura pangasius fillet… to Singapore market.

SINGAPORE - BRIGHT SPOT IN VN PANGASIUS EXPORTS TO ASEAN

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