(seafood.vasep.com.vn) Vietnam’s value-added pangasius is one of the most preferred products in many markets, in addition to the main product of frozen pangasius fillets. In the first half of this year, Thailand, the UK, and Australia were recorded as the top 3 markets that consumed the largest volumes of Vietnam's value-added pangasius.
According to Vietnam Customs data, in Q2 2024, Vietnam's exports of value-added pangasius reached $9 million, up 43%; in the first half of this year, cumulative exports of this product reached $17 million, up 28% compared to the same period last year, accounting for 2% of the total pangasius exports from Vietnam to various markets.
Thailand was the largest consuming market for Vietnam's value-added pangasius in the first half of this year, with a value of over $3 million, up 4% compared to the same period last year, accounting for 19% of the total exports of this product to various markets. March 2024 recorded the highest monthly export value of value-added pangasius to Thailand, at over $800,000, up 86% compared to the same period in 2023. After increasing by one and a half times in April 2024, this market did not import value-added pangasius from Vietnam in May 2024. However, in June 2024, Thailand increased its imports again, doubling compared to the same period last year, reaching over $700,000.
Regarding the value-added pangasius of Vietnam, Thailand mainly imports frozen dried pangasius fingers, frozen fried breaded pangasius fillets, frozen fried breaded pangasius steak, frozen breaded pangasius slices, and frozen fried breaded pangasius fingers from Vietnam. Some Vietnam pangasius exporters to Thailand include: CP Vietnam Livestock Corporation – Frozen branch in Ben Tre (90% market share), Godaco (8% market share), Vinh Hoan, and Phi Long Import Export Company Limited
After Thailand, the UK is the second largest importer of Vietnamese value-added pangasius. In the first half of this year, exports of this product to the UK reached over $2 million, a 4% decrease compared to the same period of 2023. February 2024 was the month when this market consumed the most Vietnamese value-added pangasius, at over $500,000, a 56% increase compared to the same period.
In the value-added pangasius segment, in the first half of 2024, the UK mainly imported frozen breaded pangasius fillets (55% market share), and frozen breaded pangasius fillets (41% market share). The exporting companies to the UK in the first 6 months of the year were CP Vietnam Livestock Corporation – Frozen Branch in Ben Tre (55%), Vinh Hoan (41%), Godaco (2%), and Phu Thanh (2%).
In the first half of 2024, exports of value-added pangasius to Australia reached more than $2 million, a 40% increase compared to the same period in 2023. February 2024 was the month that this country consumed the most Vietnamese value-added pangasius in the first 6 months, with more than $500,000, nearly 17 times higher than February 2023.
Frozen breaded pangasius fillets and frozen fried breaded pangasius fillets are the two main products in the value-added pangasius segment favored by Australian consumers, accounting for 46% and 16% respectively of total pangasius exports to this market. The top Vietnamese exporters of value-added pangasius to Australia include Vinh Hoan (47%), Van Duc Tien Giang (28%), and SEAVINA (21%).
Vietnamese value-added pangasius products are gradually gaining popularity in many international markets, due to their diversity, ease of processing, richness, and deliciousness as a white-fleshed fish. Although the export value is still “modest” compared to the main product of frozen pangasius fillets, value-added pangasius still promises huge export potential if businesses can capitalize on the opportunities.