|Pangasius is one of the main export products to the US. (Photo: congthuong.vn)
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the US is currently one of Vietnam's largest pangasius consumption markets.
In 2015 and 2016, just 2 years after Vietnam and the US established a comprehensive partnership, the US was Vietnam's largest pangasius consumption market. Since 2019, the US remained the second largest pangasius import market, accounting for about 22%.
As of August 15, 2023, Vietnamese pangasius exports to the US reached USD169 million, down 59% from the same period last year.
The VASEP reported the remarkable decline in pangasius exports to the US was brought about by the impact of economic recession and inflation. Meanwhile, the inventory is still large because the US increased imports at the end of last year, which is one of the main reasons why this country's pangasius import rate has slowed down.
The export price of Vietnamese pangasius to the US market fluctuated at USD2.97 - 3.45 per kilogram in the first 6 months of 2023. Vietnam mainly exports frozen pangasius and fried pangasius skin to the US.
During the year-end holiday season, inventory is gradually decreasing, and positive results after the inspection by the US Food Safety and Inspection Service (FSIS) under the US Department of Agriculture will create a positive boost for Vietnamese pangasius exporting businesses to the US in the last months of the year.
In addition, given the event of upgrading relations to the highest level "Comprehensive Strategic Partnership" between Vietnam and the US on the occasion of the US President’s state visit to Vietnam, the two sides will develop relations comprehensively, on all important sectors, with priority given to economic cooperation.
VASEP hopes that the new step in diplomatic relations between Vietnam and the US will open up opportunities for the Vietnamese seafood industry to make new strides in export activities./.