WHY DID VIETNAMESE PANGASIUS EXPORT TO THE US, WHICH IS GAINING BILLIONS OF USD, SUDDENLY PLUMMETED?
Double-digit reduction
According to the Vietnam Association of Seafood Exporters and Producers, in January 2023, pangasius exports reached USD 83.6 million, down 44% compared to the previous month and down 61% over the same period in 2022. .
Pangasius exports in January 2023 to all major markets decreased by double digits. In which, the US market dropped the most when all parameters were negative in double digits.
In terms of volume, pangasius exports to the US in January 2023 reached 2,855 tons, down 44% from the previous month and down 76% over the same period last year. Export turnover only reached US$ 9.84 million, down 40% compared to December 2022 and down 81% compared to January 2022.
The average export price of pangasius to the US market was only 2.97 USD/kg, equivalent to December 2022 but down 34% compared to the same period in 2022.
With a deep and continuous decline, the US fell to the 3rd position (after China and the EU) in the largest markets of Vietnamese pangasius exports. In the US, seafood inflation remains lower than for many other products, but rising prices continue to weigh on sales.
Despite concerns about inflation, there is still some positive economic news. average, in 2023, overall food inflation is forecast to be lower than in 2022, and seafood inflation will also be lower.
More and more Americans are preparing meals at home to save money, so some retailers are advertising seafood meals at affordable prices… Expect pangasius to stand a chance in the face of demand adjustments. demand in the US market as well as more optimistic signals about the inflation situation.
Processing pangasius for export.
The US continues to evaluate the Vietnamese pangasius control system
The Food Safety and Inspection Service (FSIS) under the US Department of Agriculture has announced that it will organize a review of the sanitary control system by the Agro-Forestry-Fisheries Quality Assurance Department (NAFIQAD), Ministry of Agriculture and Rural Development. Food safety (food safety) for fish belonging to the Siluriformes order (catfish/pangasius) of Vietnam exported to the US.
The estimated time of the assessment is from August 7 to 29, 2023, in both the form of actual on-site assessment and remote assessment. Specific working schedule will be announced by NAFIQAD after agreeing with FSIS.
In order for the preparation to welcome and work with FSIS to achieve good results in order to maintain the decision to recognize the equivalence of the food hygiene and safety control system, NAFIQAD noted that catfish processing and exporting enterprises to the US should review and improve the quality of the system. conditions to ensure food hygiene and safety, a quality management program according to HACCP and implementation records in the entire process of production, transportation, preliminary processing and processing of pangasius exported to the US to ensure full compliance with regulations...
The US catfish inspection program took effect from March 2016. However, FSIS gives countries an 18-month transition period to prepare relevant documents. The official time of application is from September 1, 2017, if any country does not submit an equivalent assessment dossier, it will not be allowed to export catfish products to the US.
In 2019, after publicly posting for public comments on the US Federal Register, FSIS announced the decision to recognize the Siluriformes fish and fish products inspection and control system of 3 countries Vietnam and China. and Thailand qualify as equivalent to the US system established under the Federal Meat Inspection Act and related enforcement regulations.
In 2021, through a remote online inspection, FSIS concluded and assessed that the Vietnamese side continued to be recognized as equivalent for the Food Safety and Hygiene Control System in catfish processing in accordance with US regulations.
In 2022, Vietnam's pangasius exports reached 2.44 billion USD (up 51% compared to 2021), a record level ever. In which, the top 5 markets are China ($672 million), US ($537 million), Mexico ($105 million), Brazil ($95 million) and Thailand ($86 million).
