Vietnamese basa fish exports to major markets and prices rose sharply in March

Vietnam's basa fish export prices rose in March, with exports up 19% month-on-month to the highest monthly level since May 2022. The main reason is Vietnam's increased exports to the United States, the European Union and other markets.

The price of Vietnam's Basa fish exports has been falling since September 2022. However, by March 2023, the price of Vietnamese Basa fish exports had finally recovered due to higher prices in China, the United States and ASEAN markets.

According to the data, the overall average export price of Vietnamese Basa fish rose 4 percent to $2.41 per kilogram in March. The data showed that exports of Basa fish from Vietnam reached 79,293 metric tons in March, up 19% month-on-month and still the highest monthly volume since May 2022, although still down 15% from March 2022.

In addition, Vietnamese basa fish exports to the U.S. market increased 43.6% month-on-month to 8,185 tons. In the EU market, March exports rose slightly to 8,855 tonnes, the highest since March 2022. Exports to the EU market rose for the first time since June 2022, rising to 6,412 tonnes in March from 5,369 tonnes in February.

At the same time, the price performance of Vietnamese basa fish is also different in different markets. In the US market, March prices rose 13.9 per cent to $3.61 a kg. In the European Union, prices rose 6.7 per cent month-on-month to $2.10 a kilogram. Prices in the European Union remained at $2.74 per kilogram.

In the UK market, the price of Vietnamese basa fish rose 2% to $2.98 / kg as imports increased slightly to 1,148 tonnes. Prices in the UK are expected to rise amid demand from some processors, notably Nomad Foods, to increase imports of basa.

In Brazil, prices rose 3.5 percent in March to $3.16 a kilogram, the first increase in the market since October. In the Mexican market, however, prices fell 3.4 per cent in March to $2.53 per kg.

All in all, the export price and volume of Vietnamese basa fish in all major markets increased in March. Vietnam's basa fish industry posted its highest monthly exports since May 2022 as exports to the US, EU and other markets increased. Price performance varies from market to market, but the overall trend is upward.

In the US market, prices and exports of Vietnamese basa fish are on the rise, indicating a gradual recovery in demand. Exports to the EU market have also increased and demand for Vietnamese basa fish has remained stable. The export growth in the EU market indicates that demand for Vietnamese basa fish is recovering in the European market.

In the UK market, the price of Vietnamese basa fish has increased slightly and imports have increased. This bodes well for continued price increases in the UK market for some time to come as processors demand more basa imports. The price of Vietnamese basha fish in the Brazilian market rose in March, ending a string of declines. Still, in the Mexican market, the price of Vietnamese basa fell in March.

Overall, Vietnamese basa fish has shown an upward trend in its performance in major global markets. With the gradual recovery of market demand, the Vietnamese basa fish industry is expected to maintain its growth momentum. However, there are still differences in prices and demand across markets, and the basa fish industry needs to pay close attention to these changes in order to better grasp market demand and business opportunities in the future.