According to Seafood Guide, pangasius sales in China increased sharply during the recent New Year holiday, a positive sign for sales during the Lunar New Year holiday in early February.
Before the new year, Chinese consumer spending increased sharply, leading to enterprises stocking up pangasius to secure supply.
Chinese distributors said market demand has begun to increase since the New Year holiday. Currently, they are prioritizing the import of stockpiled goods rather than releasing existing inventory.
Vietnam, the world's largest producer of pangasius, exported over 700 containers of fish to China in December. Each contained 25 tons of frozen and butterfly-cut fillets. Vietnam's total pangasius exports to China amounted to more than 8,600 containers.
According to data from the General Department of Vietnam Customs, pangasius exports to China and Hong Kong in the first 11 months of 2023 reached 529 million USD, down 21% over the same period last year. However, in November alone, turnover recovered strongly by 28% to 39 million USD.
Approaching the end of the year, China tends to increase imports of Vietnamese pangasius to serve the year-end holidays. According to data from Vietnam Customs, pangasius export turnover grew continuously for three consecutive months in September, October and November. In particular, the main export product to this market is frozen whole round pangasius and frozen pangasius fillets.
"These positive signals from the Chinese economy, increased orders, especially the strengthening of bilateral relations between Vietnam and China give reason to be optimistic about Vietnam's pangasius exports to China in the near future" VASEP commented.
Vietnam's Ministry of Agriculture and Rural Development forecasts that pangasius output in 2024 increases by 2.8% compared to 2023; The output harvested in the first and second quarters of 2024 still meets the demand for processing and export.
Deputy Minister Phung Duc Tien set the target of total pangasius export turnover in 2024 at 2 billion USD, higher than the estimated figure of 2023 of 1.8 billion USD.
Seafood Guide quoted Mr. Chen Xindong, General Director of Octogone, saying that market demand is shifting to more high-end products.
As of January 1, Vietnam’s pangasius farming regions quoted raw material prices as stable at about 26,000 VND/kg (1.07 USD/kg), equivalent to the end of December.
A Chinese distributor forecasts that wholesale prices and raw material prices will continue to increase due to high demand during the Lunar New Year in early February.
According to Vietnambiz
The Report on Vietnam Seafood Exports in 2024 by the Vietnam Association of Seafood Exporters and Producers (VASEP) was published amid positive developments in the country's seafood industry, marking a successful year with a total export value of USD 10 billion, a 12% increase compared to 2023. This milestone underscores the sustainable growth and exceptional potential of the seafood sector in contributing to the national economy.
(seafood.vasep.com.vn) Vietnam's tuna sector faced numerous challenges in the latter half of 2024. While the year proved memorable, with export turnover reaching nearly USD 1 billion, maintaining this growth trajectory requires renewed impetus for the tuna industry.
With Tet (Lunar New Year) approaching, fishermen along Vietnam's central coast are capitalizing on favourable weather conditions to intensify their fishing efforts, meeting the burgeoning demand for seafood across the nation.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
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