(seafood.vasep.com.vn) In February 2024, Vietnam pangasius exports to China and Hong Kong decreased by 65% compared to February 2023, reaching 23 million USD.
Cumulative pangasius exports to China and Hong Kong in the first 2 months of this year reached 75 million USD, down 4% compared to the same period in 2023. Previously, in the first month of this year, China and Hong Kong increased four times pangasius imports from Vietnam. The market accounted for 29% of the total pangasius exports to markets.
In February 2024, the top 5 pangasius exporters to China include TG FISHERY HOLDINGS CORPORATION, NAVICO, DAI THANH COMPANY LTD, VINH HOAN CORP, and IDI CORP. Among them, TG FISHERY HOLDINGS CORPORATION was the largest pangasius exporter to this market.
China increased pangasius imports since the end of 2023 after continuously decreasing since the beginning of the year. Pangasius imports into the Chinese market depend heavily on the country's economic situation. When the economic situation stabilizes and improves, Chinese importers will increase imports, and one of the priority choices in the Vietnamese market is pangasius. According to experts, this year's Chinese economy started to improve after the Lunar New Year holiday, with the employment rate increasing. Raw pangasius prices are also recorded to have bottomed out, increasing from 25–26,000 VND/kg in 2023 to 28–29,000 VND/kg in early 2024.
February 2024 also coincided with the Lunar New Year holiday, especially after January, when many markets, including China, increased imports to stock up for this holiday, leading to slowed production activities and consumption of Vietnamese pangasius. With optimistic signals from the Chinese economy, Vietnamese pangasius export enterprises are expected to continue to achieve positive results in this market.