Asian demand keeps market steady. Throughout the first nine months of 2013, nearly 350 000 tonnes of frozen pangasius fillets were imported into nearly 70 countries, 20% more than in the same period in 2012.

While Viet Nam was the leading exporter, supplies also came from other Asian producing countries. Import reports comparing the first three quarters of 2013 with the same period in 2012 are mixed. The USA documented higher import volumes though with decreased prices and the EU noted slightly lower volumes. Asian demand keeps the market steady with Singapore, Hong Kong SAR, Thailand, China, Republic of Korea, India and Japan registering a 68% increase. Emerging markets in Eastern Europe also registered growth in imports.

In recent news, at the recently held Global Aquaculture Alliance meeting in Viet Nam, there was a forecast of a 30% prediction of decline in Viet Nam’s pangasius production in 2014.

Viet Nam

Viet Nam continues to be plagued by the growing non-tariff barriers in major markets. The pangasius export industry, which includes the entire supply chain, wishes to supply the US market but must comply with the same standards currently imposed on domestic companies. Failure to comply will result in a ban on imports of pangasius from Viet Nam into the US.

Following this, exporters will need to update information pertaining to the proposed rules set by the US FDA.  The proposed rules have been published for all WTO members including Viet Nam, and was made available for public comments until 27 January 2014. If approved, the Vietnamese industry will need five to seven years to upgrade its production and processing chain to meet the standards. 

In the first three quarters of 2013, the Viet Nam Association of Seafood Exporters and Producers  (VASEP) reported USD 1.2 billion worth of pangasius exports, which is slightly down (-1.4%) from the same period of 2012. The USA remains the single largest market, absorbing 23% of pangasius in value.  Export volume to the USA fell marginally (-0.5%). The EU also imported a lesser share. 

USA

According to figures from NOAA, imports of all frozen catfish (fillet and whole) during the January–September 2013 period moved up a marginal 3% from the same period in 2012. Pangasius frozen fillets, mostly from Viet Nam, accounted for 94% of the imports. Meanwhile, imports of frozen Ictalurus fillet increased by 82% during the review period. The value of pangasius imports however was down 9% from the first three quarters of 2012, which also pushed average import prices down by 9% to USD 3.05 per kg during the period under review. 

EU

The EU 27 countries imported 104 700 tonnes of frozen pangasius fillet, slightly down from 106 200 tonnes imported during the same period in 2012. Viet Nam continues as the leading supplier although the volume they supplied to EU markets decreased marginally.

Spain, the largest pangasius fillet market in the EU, continues to buy less (-1%) than in 2012. Imports also slowed down in the Netherlands, Germany, Italy, Poland and some other EU markets. However, the emerging markets in Eastern Europe namely Slovenia, Slovakia, Lithuania and Estonia, recorded increased imports.  

As reported by the EU Finfish Study released recently, fishery imports remained the backbone of EU seafood processing and consumption.  Pangasius was reported as one of the key imported whitefish.

Asia

Taking advantage of the Lunar New Year Celebration, pangasius have been able to sell at strong prices in January 2014, particularly within restaurants. Other New Year promotions are also in effect; wholesale live fish retailers in Kuala Lumpur are offering fish bundle deals, which feature local pangasius together with other freshwater fish. Prices for these bundles ranged from RM 188 (USD 37) to RM 338 (USD 105) per kg in January 2014. 

Locally farmed pangasius have been extremely popular in the live fish market. In January 2014, wholesale markets sold live pangasius at USD 4.05 per kg and this price is expected to be 10–20% higher during the Lunar New Year week. Seafood restaurants sold live pangasius at rates between USD 23–28 per kg. 

During the first nine months of 2013, imports of frozen pangasius fillets into Singapore, Hong Kong SAR, Thailand, China, Republic of Korea, India and Japan reached 41 300 tonnes, up by 68% from the same period in 2012. Pangasius is popular for household consumption as well as for catering. 

Outlook

Demand is expected to remain stable although the EU market has slowed down. Consumption in the US market will possibly pick up in March 2014 because of Lent. During late January–mid-February demand for locally produced pangasius in Southeast Asian restaurant trade is foreseen to increase during the celebration of the Lunar New Year.