Pangasius export to the United Kingdom skyrocket
April 21, 2021 | B2B, News | No Comments
The British sure seem to love some pangasius fillet every now and then. In 2020, the UK imports of the Vietnamese fish increased by almost 50 percent. That steep growth is expected to even rise in 2021.
Vietnamese pangasius makes up the majority of the United Kingdom’s pangasius imports. A whopping 90 percent comes from the Southeast Asian country. Even with this high percentage, that number is expected to rise even more in 2021.
Fish loving people
Traditionally, British people are known for their fish consumption. Consumers, however, tend to prefer local over exotic imported varieties. The COVID-19 pandemic shook things up entirely. Consumers spend less on high-end, pricy products and look for cheaper solutions. Of course, being one of the lower-priced variants of fish, the demand for pangasius grew immediately.
Even when the UK was a member of the European Union, the United Kingdom belonged to the top five pangasius export markets. However, the country left the European Union in February 2020. Since then, the UK has had to revisit its trade agreements and forge entirely new international business relationships as of 2021. Luckily, the Vietnam-UK Free Trade Agreement (UKVFTA) was struck in December 2020. That agreement will boost exports even more in coming months and years.
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