Analyst Pin-board Pangasius Sector – 10M2020 Review and 2021 Prospects
Prolonged sluggish exports with tumbling prices while new Chinese custom inspections are a short-term headwind
After ten months of 2020, pangasius exports came in at USD 1.21 bn, -26% YoY. Of which, volume and price dropped by 9.2% YoY and 17% YoY, respectively, according to the Ministry of Industry and Trade (MoIT). Although markets quickly resumed when governments lifted quarantine orders, export prices have not had a chance to rise as the worry about the possible pandemic outbreak recurrence discouraged buyers to place large orders. Export prices have hit a 5-year low at the end of October.
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