During the January to September 2016 review period, an estimated 330 000 tonnes of pangasius (whole frozen and frozen fillets) were imported by more than 40 countries worldwide. This total was down by about 27 000 tonnes (-8 percent) from the same period last year. Despite this overall drop, Latin America and Asia, the two largest markets for pangasius, imported 14 percent more during the review period.

Viet Nam

Production is reported to be increasing in the Mekong Delta as demand increases from China. Indeed, since 2015 monthly Vietnamese imports of pangasius into China have doubled, now totalling an average of about 2 000 tonnes per month. Farming areas for pangasius increased by 4 percent in 2016 bringing production close to 1 million tonnes from approximately 910 000 tonnes in 2015. As a result of the strong demand from China, prices have strengthened.

According to the Vietnam Seafood Exporters and Processors Association (VASEP), pangasius exports during January–September 2016 reached US$1.2 billion, 6.2 percent more than the same time period in 2015. Exports increased into the USA, the largest market, China and the Association of Southeast Asian Nations (ASEAN). A total of 97 200 tonnes of Vietnamese frozen pangasius were imported into the USA during the time period. With expected high anti-dumping duties and a strengthened inspection program in 2017, US pangasius imports are expected to not be as high during the coming year. China imported over 22 500 tonnes from Viet Nam during the review period, nearly doubling their imports compared with the same time period last year, with this trend largely being driven by affordable prices. For 2017, the USA may lose some of its market share of Vietnamese pangasius to China.

USA

During January–September 2016, the US market appeared to be gaining back its momentum following declines that began in 2013. This growth is clearly due to increased supplies from Viet Nam, the primary global source of pangasius. Nearly 97 percent of the 97 200 tonnes of catfish imported into the USA during the review period was comprised of frozen pangasius fillets from Viet Nam. Imports are also increasing from China, with China supplying close to 3 000 tonnes of frozen catfish fillets and 223 tonnes of fresh catfish fillets, with the latter showing notable growth of 45% from 2015.

EU

The market appears to be firm although total imports of pangasius (whole and frozen) into the EU declined marginally by 0.7 percent, reaching a total of 73 100 tonnes during January–August 2016. Imports increased for whole frozen pangasius while imports declined for frozen fillets. Whole frozen imports increased from the leading supplier Viet Nam as well as from Myanmar. Within the EU, Spain and the UK are the largest markets.

Latin America

During the first nine months of 2016, Latin America absorbed about 26 percent of the total amount of pangasius that entered the international market, demonstrating growth of 6.1 percent compared with the same period last year. Latin American imports totalled approximately 86 000 tonnes, of which almost 90 percent were frozen fillets with the remaining 10 percent whole frozen. Within the region, the largest markets are Mexico, Brazil and Colombia. Latin America demonstrates how Viet Nam has been successful in penetrating this market with their pangasius products, which has largely been achieved by intensive marketing and promotion, as well as by the very low price.

Asia

In a region where consumption of fish is generally in whole form, imports of frozen pangasius fillets during the first nine months of 2016 totalled nearly 68 000 tonnes. The growth of 24% by these imports has been driven in part by the fact that consumers are demanding more convenient and affordable food.

During the review period, Thailand was the leading importer of frozen fillets (18 600 tonnes), followed closely by China (17 400 tonnes) and Singapore (12 400 tonnes). Considering the growing demand in China, it is highly probable that China will soon become the leading importer in Asia overtaking Thailand.

The report analyses the market situation over the period January-December 2016