Pangasius exports to UK market soar considerably over 8 months
Vietnamese pangasius exports to the UK surged by 28% over the past eight months to US$47 million, with the major export products being frozen pangasius fillets and processed pangasius, reported the Vietnam Association of Seafood Exporters and Producers (VASEP).
This increase was attributed to high inflation in the UK, the reasonable price of Vietnamese pangasius, along with a shortage of white fish in the UK caused by the ban on seafood products imported from Russia.
The VASEP noted the UK currently makes up one of Vietnam’s 10 largest seafood export markets, accounting for 3% of the total value.
During the initial eight months of the year, seafood exports to the UK increased by 3.5% to reach US$213 million, of which pangasius exports accounted for 22% of the total seafood export value to the UK.
Industry experts said the enforcement of the UK-Vietnam Free Trade Agreement (UKVFTA) in May 1 last year has led to Vietnamese pangasius enjoying a tariff reduction in the UK market.
Think tanks predicted that Vietnamese pangasius exports to the UK in the remaining months of the year would enjoy a positive outlook compared to the previous period.
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