Which market is buying the largest pangasius fish from Vietnam?

According to the latest data from the General Department of Customs, in the first half of May 2024, Vietnam's pangasius exports to markets reached 76 million USD, an increase of 13% over the same period in 2023. As of May 15, 2024, cumulative pangasius exports reached 656 million USD, an increase of 3% over the same period last year.

Which market is buying the largest pangasius fish from Vietnam?

Among export markets, Vietnam's pangasius exports to China and Hong Kong (China) reached 22 million USD, up 9% over the same period last year. As of May 15, 2024, the cumulative pangasius exports to this market reached nearly 175 million USD, down 14% over the same period in 2023.

As of May 15, 2024, China is still the largest import market for pangasius from Vietnam. Reasonable prices and delicious meat quality make it easy for consumers in China to choose. At retail stores in China, the price of pangasius is recorded to be cheaper than domestically produced freshwater fish such as carp. Pangasius has become a type of fish that many consumers cook at home, and also in public restaurant chains.

Importers are forced to focus on cheaper products, as the slowing Chinese economy makes consumers more cautious and hesitant in spending. Being cheaper than some domestic fish species such as carp, tilapia, snakehead fish, makes pangasius more popular and has a firmer foothold in this country.

The high prices of other whitefish in the Chinese market, typically tilapia, due to reduced production have caused consumers not only in this market, but also in the US and some other countries to switch to choosing other whitefish products.

The characteristic of this fish is that it is a white-fleshed fish, raised on the upper floors, so the quality of the fish meat is clean, rich in nutrients, the pangasius fillet product is almost boneless, healthy, so it is very suitable for children's menu. In addition, the fat of this fish is also rich in omega 3, which is good for health, so families who tend to cook at home are very fond of dishes made from this fish.

The top 4 enterprises exporting the most pangasius to China in the first 4 months of this year include: Truong Giang, Nam Viet, Dai Thanh, Vinh Hoan, IDI Corp.

Source: https://congthuong.vn/thi-truong-nao-dang-thu-mua-ca-tra-lon-nhat-cua-viet-nam-323886.html