In January 2022, the volume of Vietnamese pangasius exported to Brazil also reached a monthly record, then gradually decreased to the lowest level after 2 years in May with only 1.1 thousand tons. Exports recovered gradually in the third quarter but then declined sharply from November until now due to the impact of inflation and economic slowdown.
In 2022, Vietnam's pangasius exports to Brazil reached over 95 million USD, up 35% compared to 2021, mainly thanks to the increase in average export prices. The peak was in July 2022, the average price of pangasius exports to Brazil reached a record of 3.55 USD/kg, up 51% over the same period last year.
As of mid-February 2023, Vietnam's pangasius exports to Brazil reached US$10.5 million, down 51% over the same period last year. In the general decline trend to most markets, Brazil still ranked the 4th largest import market of Vietnamese pangasius, accounting for nearly 7% of the share.
Brazil's total aquaculture imports in 2022 decreased by 1% in volume but increased by 23% in value compared to 2021, reaching 130,259 tons, worth $897.8 million. Import value increased mainly due to the increase in imports of salmon and pangasius compared to the previous year.
Among the main farmed fish species imported by Brazil in 2022, salmon ranked first at the list with 100,330 tons, worth more than 803 million USD and accounting for 91% of the total import value. The volume of salmon imports remained unchanged but the value increased by 22%. Pangasius imports into Brazil also remained the same in volume but increased by 45% in value to 28,407 tons, worth $90.9 million.
Forecast on Vietnam pangasius industry in 2023 - 2025
Compiled by Thuy Linh
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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