Spanish importer: EU pangasius imports will recover

Spanish importer: EU pangasius imports will recover

Pescados Guillem, one of the six largest Spanish importers of pangasius from Vietnam, is confident about the market despite recent figures showing imports in Spain and other European Union countries dropping by nearly a third since 2010.
Update: (8/10/2014)

Recent data from the European fisheries observatory showed Spain, Germany and the Netherlands, the main destinations for Vietnamese pangasius, have reduced pangasius imports by an average of 14,300 metric tons in the past three years.

Prices in the first quarter of 2014 were €0.26 lower from 2012′s €2 per kilogram, according to Eurostat data.

But Pescados Guillem does not think this indicates a peak in the market.

"During the initial stages, ten years ago, when pangasius was first introduced into the European markets, imports skyrocketed because it is a very attractive fish. What we are seeing now is a stabilization of the demand, but it has not peaked at all,” Jose Salvador, director at Pescados Guillem, told Undercurrent News.

"The reason for the current market situation is simply that the economic crisis is changing household consumption habits. And this is something occurring in all sectors, anyway,” Salvador said.

The company, headquartered in Xirivella, in Valencia,is one of the main EU importers of pangasius to Spain together with Krustagroup, Congefish, Inlet Seafish and Mascato.

Salvador further dismissed claims that pangasius is an easy to substitute fish, and forecast a recovery in consumption.

"There still is margin for growth. Let’s remember that we are talking about a fish with agreeable taste for all the members of the family, offered with no bones or skin, at a very affordable prices. And it is farmed, so the supply is regular during the whole year,” Salvador noted.

He also dismissed as a "myth”the negative news affecting pangasius over health issues or nutritional value, which he said were groundless.

"We have been trading pangasius for a decade now. Where’s that distrust they talk about? The fishing industry certainly doesn’t like it, but there is no doubt whatsoever that this is a great fish.”

Pescados Guillem also imports squid from India and Alaskan Pollock from China, some of its main partners being Raunaq and Hong Sheng Foods.

The companyhad a turnover of €14.5 million in 2012, its latest financial results filed. This was almost a million down from the previous year but with operational earnings going up by 1.7% to €100,000.

from Undercurrent News,