Russian import of Vietnamese pangasius showing negative dynamics

According to the Vietnamese Association of Seafood Exporters and Producers (VASEP), Vietnam's export of pangasius to international markets has been on a rise this year, though exporters have been facing a lack of raw fish and trends of export shipments to some countries, Russia in particular, have been changing in the opposite direction, reports http://www.megafishnet.com/.

During the first nine months of 2011 the total value of pangasius exports from Vietnam has jumped to USD 1.31 billion (+29% on January-October 2010).

Export of Vietnamese pangasius to Russia during 8 months of 2011 (January-August) was characterized by stable demand, but in September 2011 the trend suddenly changed as pangasius sales to Russia decreased. The value of Vietnamese exports of pangasius to Russia in September 2011 amounted to USD 5.1 million, USD 400,000 down on August 2011 and 20% down on September 2010. As a result, Vietnamese shipments to Russian in the first nine months of 2011 totaled USD 43.6 million, 3% down on January-September 2010.

VASEP says that, according to the Russian records, import of finfish and other aquatic products to Russia in the first 5 months of 2011 rose by 24% with Norway, Iceland, Canada and Chile being the largest supplying countries. The average level of seafood consumption in Russia in 2011 is growing, especially thanks to comparably cheap fish such as herring, hake and ocean perch and the Vietnamese exporters hope that the their shipments of pangasius to Russia can recover soon.

According to Pangasius-Vietnam Agency, in the recent months the value of raw pangasius from Mekong delta has been dramatically growing. As per 26 October 2011 farmers changed VND 27,500 per kilo of one 800-gram fish, larger pangasius of about 1000 grams cost VND 24,500 per kilo (+VND 2,500 on previous month). After 5 months of almost continuous losses farmers started to get profit thanks to higher prices for the raw fish. At the same time, An Giang Association noted that farmers were still unwilling to expand their production ponds due to the lack of working capital and bank loans.