In November 2023, Vietnam’s pangasius exports to Brazil reached nearly 14 million USD, up 81% over the same period in 2022, highest in terms of value and growth since February 2022. This is also the 5th consecutive month in 2023 that this market recorded positive growth in pangasius imports.
In the first 11 months of 2023, Brazil consumed more than 97 million USD of pangasius from Vietnam, up 11% over the same period in 2022. Unlike many other markets, this Latin American country only imports frozen pangasius fillet products from Vietnam.
The diverging trends of average FOB export price and export volume are particularly evident in this market. According to the latest data, the average price of exported pangasius to Brazil in October 2023 increased slightly compared to the previous month, but still remained below 3 USD/kg, continuing to decrease 16% over the same period in 2022. 2023 has been a challenging year for the entire pangasius industry, with export prices to most markets declining. Brazil is no exception. Although prices have decreased, compared to mid-2019 - early 2023, this is still an acceptable price.
In contrast, the volume of Vietnam’s pangasius exports to Brazil has steadily increased since June 2023. Thanks to that, export value still grew positively, despite the continuous decline in average FOB export price. In October 2023, Vietnam exported nearly 3,000 tons of pangasius to Brazil. Demand for Vietnam’s pangasius in Brazil remains stable and somewhat increases compared to other markets in the context of a general decline.
According to data from the World Trade Center (ITC), Vietnam remains the top supplier of white fish (mainly pangasius) to Brazil. However, Vietnam’s pangasius has to compete with not only countries that are starting to farm this fish, but also with other types of white fish such as hake (HS code 030474) or cod (HS code 030363).
Brazil is one of the important markets for Vietnam’s pangasius. In 2023, export growth to this market will drive Vietnam’s export enterprises to seize opportunities and boost exports to this country, whose middle class is growing.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
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