Tra fish exports to EU market plunge

Most notably, the Netherlands and Germany remained the two key consumers of Vietnamese pangasius to the demanding market.

Specifically, the country fetched nearly US$11 million from exports of pangasius to the Netherlands during the first quarter of the year, marking a drop of 10% against the same period from last year.

Meanwhile, pangasius exports to Germany throughout the reviewed period also witnessed negative growth of 29% to US$8 million on-year.

Experts pointed out that although the pangasius export volume to the EU increased by 26%, the average export price remained low, thereby leading to a continuous decline in terms of the total export value for several months.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood exports to the EU, including pangasius, have been significantly affected by the global recession, the Russia-Ukraine conflict, and the tension escalation in the Middle East.

Vietnamese export enterprises are required to take the full advantage of the incentives set out under the EU-Vietnam Free Trade Agreement (EVFTA) in order to make further inroads into the fastidious market.

Simultaneously, local firms have been advised to meet relevant green standards set forth by the EU in terms of environmental protection and sustainable development to boost exports to the highly lucrative market.