VASEP statistics show the first half of October saw Vietnamese pangasius exports to Canada dropped 33% year on year to just US$1 million.
Notably, Canada mainly consumed frozen pangasius fillets from Vietnam, with nine-month value hitting more than US$26 million, representing an increase of 10% from a year earlier, and accounting for 86% of Vietnam’s overall export value of pangasius to this market.
Besides frozen pangasius fillets, the export of other dried and frozen fish products to Canada also recorded positive growth of 56% throughout the reviewed period with a value of US$4 million.
Although pangasius exports to Canada are supported by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), consumers in the market are becoming increasingly demanding in choosing products, including seafood items.
Apart from tariffs, Vietnamese products face hurdles in terms of regulations on food hygiene and safety standards, the labeling of goods, and environmental protection.
In order to gain further entry into the market, experts say Vietnamese enterprises are required to stay regularly updated on Canadian laws and carefully research this market, especially niche markets.
In addition, local firms need to thoroughly gain greater insights into the tastes and needs of consumers, particularly as Canadian consumers are willing to try new products if prices are highly competitive.
