Pangasius fish export turnover is estimated to reach 725 million USD in 5 months.

Increased imports from markets have caused pangasius export turnover to skyrocket.

Statistics from Vietnam Customs show that pangasius export turnover in the first 5 months of 2024 is estimated at 725 million USD, an increase of 2% over the same period in 2023.

According to the Vietnam Association of Seafood Exporters and Producers, the largest market for importing Vietnamese pangasius is currently the US, followed by China, Europe and some other South American markets. Among Vietnamese pangasius products, the US is currently increasing the import of processed pangasius, with an added value 8.5 times higher than the same period in 2023. Meanwhile, frozen pangasius imports into the US market have decreased due to reduced consumer demand.

Frozen pangasius fillets remain the mainstay of pangasius exports to the US. By the end of May 2024, frozen pangasius fillet exports to the US reached more than 120 million USD, up 19% over the same period in 2023, accounting for 98% of the total pangasius export value to the US.

Vietnam has advantages to export white fish products, as recently, many Vietnamese enterprises participated and introduced Vietnamese pangasius products at the North American Seafood Exhibition, creating more opportunities to connect and bring products to this region. The fact that the supply of white fish to the US is decreasing in the context of scarcity of other white fish products is also a positive signal for Vietnamese pangasius exports.

In the European market, although this market has been bustling again since April 2024 until now, the export turnover of pangasius to this market in the first 5 months of 2024 is estimated at 70 million USD, but there are signs of a 7% decrease compared to the same period in 2023.

Germany surpassed the Netherlands to become the largest destination for Vietnamese pangasius exports in the European bloc. In addition, in May 2024, the Vietnam Association of Seafood Exporters and Producers also recorded positive growth in many markets in the European bloc in importing Vietnamese pangasius, including: Lithuania increased by 215%, Spain increased by 69%, Belgium increased by 62%, Greece increased by 46%, Portugal increased by 15%...

With the current boom in pangasius processing and export, the pangasius industry forecasts that Vietnam's pangasius export price will increase by 10% in the third quarter of 2024, due to the combination of fuel factors, logistics costs, and cooling bank interest rates. This is an opportunity for the entire Vietnamese pangasius industry.

According to PV/VTV

Source: https://doanhnghiepvn.vn/kinh-te/kim-ngach-xuat-khau-ca-tra-uoc-dat-725-trieu-usd-trong-5-thang/20240527091512975