In August 2024, Vietnam's pangasius exports reached nearly $191 million, a 12% increase compared to August 2023. Accumulated pangasius exports in the first eight months of this year reached nearly $1.3 billion, a 9% increase year-on-year. Notably, value-added pangasius products reached nearly $6 million in August 2024, a significant 75% increase, and $27 million in the first eight months of this year, up 38% compared to the same period last year.
Exports of value-added pangasius to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) bloc exceeded $8 million by the end of August 2024, a 31% increase year-on-year. June 2024 recorded the highest monthly value at over $1.3 million, up 35% compared to June 2023. Australia emerged as the largest consumer of these products within the CPTPP, accounting for 39% of total imports from Vietnam, with a value of over $3 million, representing a 21% year-on-year increase.
The United States has consistently increased its imports of Vietnam's value-added pangasius products since the beginning of 2024. August 2024 marked the highest monthly export value to the US since the start of the year, reaching nearly $3 million, a staggering 15-fold increase compared to August 2023. Prior months also witnessed record-breaking growth, with April seeing a nearly 67,000-fold increase and July a nearly 42,000-fold increase. By the end of August, exports to the US totaled nearly $6 million, a 14-fold increase year-on-year.
Thailand ranked third in terms of importing Vietnam's value-added pangasius. In August 2024, exports to Thailand reached nearly $600,000, up 17% year-on-year. However, while the overall eight-month total exceeded $4 million, a 1% increase, May 2024 saw Thailand halt its imports of these products. The UK, despite a 1% decline in the first eight months, maintained its fourth position as a consumer of Vietnam's value-added pangasius, with a total value of nearly $4 million. August 2024 recorded the highest monthly export value to the UK for the year, although it was down 21% compared to August 2023, reaching over $726,000.
Vietnam's value-added pangasius exports to the EU totaled over $2.3 million by the end of August, down 5% year-on-year. The Netherlands was the largest consumer within the bloc, accounting for 86% of the total value, with exports exceeding $2 million, a 29% increase year-on-year. China and Hong Kong, primarily importing frozen pangasius fillets, have also shown increased interest in value-added products. In August 2024, exports to China tripled year-on-year and reached the highest monthly value for the year at over $200,000. By the end of August, total exports to China reached $791,000, a 50% increase.
Popular value-added pangasius products include breaded pangasius fillets, breaded fish skin snacks, and breaded fish cutlets. The growing demand for Vietnam's value-added pangasius products highlights the success of diversification strategies among Vietnamese seafood businesses. As the global market continues to evolve, Vietnamese enterprises are well-positioned to capitalize on emerging opportunities and strengthen their position in the international seafood market.
According to Vietnam Customs, the export of value-added pangasius in the first eight months of 2024 has been evaluated as quite positive, with continuous growth in many major markets such as the United States, CPTPP, and the Netherlands...
(seafood.vasep.com.vn) The Department of Fisheries of Ca Mau province coordinated with the School of Fisheries under Can Tho University to organize training courses on high-tech shrimp farming for 120 people in processors, cooperatives and families that are raising intensive and super-intensive shrimp in the province.
(seafood.vasep.com.vn) Currently, Soc Trang province plans to expand its shrimp farming area from over 50,000 hectares to 57,000 hectares by 2025, aiming for a production of 233,800 tons and maintaining a $1 billion export value. The project will establish 45 climate-resilient shrimp farming models and ensure all farms meet aquaculture standards for traceability.
(seafood.vasep.com.vn) In July 2024, Vietnam's fish cake and surimi exports declined. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the cumulative export of this product group reached 152 million USD, down 13%.
(seafood.vasep.com.vn) Dong Thap is a key region for pangasius farming, boasting the largest production in the Mekong Delta. In the first seven months of 2024, the estimated aquaculture area reached 4,778 hectares, with a harvest yield of 307,336 tons. Of this, the intensive pangasius farming area covered 2,042 hectares, with a harvest of 252,670 tons.
(seafood.vasep.com.vn) According to Vietnam Customs, in the first half of August 2024, Vietnam's pangasius exports to the EU reached nearly 8 million USD, up 57% over the same period. Cumulative pangasius exports to this market as of August 15, 2024, reached 107 million USD, up 0.5% over the same period last year.
(seafood.vasep.com.vn) The Board of Directors of International Development & Investment Corporation (IDI) is confident of completing this year's profit plan in the context of gradually recovering demand for pangasius in China and Mexico.
(seafood.vasep.com.vn) Some farmers in Soc Trang province have successfully applied a balanced biological shrimp farming technique, which eliminates the use of chemicals to minimize environmental impacts. This is a model of farming that adapts to climate change.
8 finalists have been named in the best new seafood product competition to be awarded at Seafood Expo Asia, taking place 4 to 6 September at the Sands Expo and Convention Centre in Singapore.
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