In terms of consumption markets, after five months of positive growth, pangasius exports to China declined by 16% in September 2024 compared to the same period in 2023, with an export value of $48 million. This marks the third month this year in which imports of Vietnamese pangasius have decreased in this market. By the end of September, pangasius exports to China totaled $418 million, down 4% year-on-year.
Pangasius exports to the U.S. continued to show positive results in the last month of the third quarter of 2024, reaching over $30 million, a 32% increase compared to September 2023. In the first nine months of this year, pangasius exports to the U.S. totaled $256 million, a 24% year-on-year increase. The U.S. remains the second-largest consumer of Vietnamese pangasius, after China. According to the International Trade Center (ITC), Vietnam continues to be the largest supplier of pangasius products to the U.S. during this period.
Lower finished pangasius inventories in the U.S. compared to 2023 and 2022 are encouraging retailers to replenish their stocks for the year-end holiday season. Additionally, declining inflation in the U.S. is boosting consumer demand.
In September 2024, Thailand emerged as the third-largest importer of Vietnamese pangasius. Exports to the "Land of Smiles" in the last month of the third quarter reached $5.8 million, down 21% compared to the same period last year. By the end of September 2024, pangasius exports to Thailand totaled $46 million, an increase of 6% compared to the same period in 2023.
Pangasius exports to the EU experienced a slight decrease of 1% in the first nine months of this year, with a value of $128 million. In September 2024 alone, exports to this market reached $14 million, down 2% compared to September 2023. The Netherlands remains the leading market in the EU for Vietnamese pangasius consumption, with exports to the Netherlands in the first nine months of this year totaling $36 million, an increase of 2% compared to the same period last year.
Regarding export products, frozen pangasius fillets continued to be the main product of Vietnamese pangasius exports. The export value of this product to various markets in the first nine months of this year increased by 5%, reaching $1.2 billion. By the end of September 2024, exports of processed pangasius continued to grow by 45%, reaching $32 million. Exports of dried pangasius and other frozen products (whole, cut pieces, etc.) reached $273 million, an increase of 23% compared to the same period last year.
Vietnamese pangasius exports ended the first nine months with positive results, as markets maintained growth. In the last three months of the year, commercial and service activities are expected to become more active in stocking goods in preparation for the holidays, which will be the peak season for pangasius exports in 2024. Enterprises need to capitalize on this time, strengthen communication, and actively promote other pangasius products, such as value-added varieties, to seize opportunities in the market, especially with customers near the border like China.
The UK joining CPTPP not only does not create barriers but also brings many advantages and great opportunities for domestic footwear and seafood businesses.
Deputy Minister of Agriculture and Environment Phùng Đức Tiến talked to Việt Nam News reporter Tố Như about the future development orientation after the ministry officially began operations.
(vasep.com.vn) Vietnam is signatory to three new-generation Free Trade Agreements (FTAs), and specifically with the United Kingdom (UK), maintains two FTAs: the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the UK-Vietnam Free Trade Agreement (UKVFTA). The confluence of content and approaches within these two Agreements fosters a conducive environment for enterprises from both nations to maximally leverage trade and investment opportunities, notably encompassing Pangasius exports to the UK.
(seafood.vasep.com.vn) Sao Ta (FMC - HoSE), a key subsidiary of PAN Group, has announced impressive business results for February. The company's shrimp production reached 1,913 tons, a 106% increase compared to the same period last year, while agricultural product production reached 67 tons, up 6%.
(seafood.vasep.com.vn) The tuna export market of Vietnam in the first month of 2025 has seen notable fluctuations. Exports to most major markets have decreased compared to the same period in 2024.
The Seafood Expo Global is the largest seafood industry event in the world, truly becoming a professional playground and a strong foundation for connecting the international seafood community. The Seafood Expo Global (SEG) 2025 will take place from May 6 to May 8, 2025 in Barcelona, promising to be an important platform for the global seafood community to meet, trade, and seek business opportunities in seafood industry.
(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
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