(seafood.vasep.com.vn) Vietnam is in a negotiation on a Free Trade Agreement (FTA) with the South American Common Market (Mercosur) in order to penetrate Latin America market.
Brazil is currently Vietnam and Southeast Asia's largest trading partner in the Mercosur.
According to Vietnam Customs, in the first half of June 2024, pangasius exports to Brazil reached 4 million USD, up 5% over the same period last year. Cumulative exports in the first 5 months of 2024 reached 50 million USD, up 47% over the same period in 2023. Export turnover peaked in January 2024 with nearly 14 million USD, up 83% over the same period. However, pangasius exports in February decreased by 6%, reaching nearly 6 million USD.
Since January, Brazil has only imported frozen fillet pangasius from Vietnam with HS code 03046200. Hung Ca 2 is the largest supplier to this market in the first 5 months of 2024, accounting for 19% of the exported value.