The US market ranked top 1 in Vietnam's largest pangasius consumption market in 2015 and 2016. This time is 2 years after Vietnam - the United States established a comprehensive partnership in 2013. Since 2019, the US has remained the second largest pangasius import market after China & Hong Kong, accounting for about 22%.
As of August 15, 2023, Vietnamese pangasius exports to the US reached 169 million USD, down 59% over the same period last year. The US is not a very optimistic market for Vietnamese pangasius in the first months of this year due to inflation, economic decline, especially high inventory because this market imports a lot in the first half of 2022. This is also one of the main reasons why the US's pangasius import rate slowed down in the first months of this year.
The export price of Vietnamese pangasius to the US market fluctuated at 2.97 - 3.45 USD/kg in the first 6 months of this year
The export price of Vietnamese pangasius to the US market fluctuated at 2.97 - 3.45 USD/kg in the first 6 months of this year. Vietnam mainly exports frozen pangasius fillets; frozen pieces/cuts of pangasius; frozen breaded pangasius; Dried puffed pangasius and fried pangasius skin to the US market.
The top 3 leading enterprises in Vietnam exporting pangasius to the US include: Vinh Hoan, Bien Dong Seafood, Van Duc Tien Giang, accounting for 51%, 18%, and 11% of the value respectively.
On September 7, 2023, the US Federal Register (Federal Register) announced the preliminary results of the 19th administrative review (POR19) for Vietnamese frozen pangasius fillets exported to the US during the period (August 1, 2021 - July 31, 2022).
Accordingly, two Vietnamese pangasius export enterprises: Vinh Hoan Corp and Caseamex are mandatory defendants. Vinh Hoan Corp has a tax of 0, Caseamex has a tax of 0.14 USD/kg. Other businesses also enjoying a tax of 0.14 USD/kg are I.D.I CORP, Cafatex Seafood JSC, Loc Kim Chi Seafood JSC and Hung Vuong JSC. The preliminary tax rate of POR19 is reduced compared to the final results of the previous POR18.
Accordingly, two Vietnamese pangasius export enterprises: Vinh Hoan Corp and Caseamex are mandatory defendants.
During the year-end holiday season, inventory is gradually decreasing, and positive results after the FSIS inspection will create positive psychology for Vietnamese pangasius exporters to the US in the last months of the year.
After 28 years of Vietnam and the US establishing diplomatic relations (1995-2023) and 10 years of establishing Comprehensive Partnership (2013-2023), on the occasion of the State visit to Vietnam by US President Joe Biden, Vietnam and the US on September 10, 2023 announced to upgrade relations to the highest level of "Comprehensive Strategic Partnership". Accordingly, the two sides will develop their relationship comprehensively, in all important fields, and economic cooperation will be prioritized in the immediate future. It is expected that the new step in diplomatic relations between Vietnam and the US will open up opportunities for Vietnam's seafood export industry, including pangasius, to achieve more success, bringing the flavor of this delicious, nutritious and affordable price fish become more popular in this market.
Compiled Thuy Linh
(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.
(seafood.vasep.com.vn) The "Cooking Show - Tasting delicious seafood" area at Vietfish 2024 organized by VASEP has always been a favorite highlight for visitors, especially domestic consumers. This area is not only a place to showcase a variety of flavors and high-quality Vietnamese products that are renowned in the global market but also a venue where consumers can experience captivating and visually appealing culinary performances by professional chefs.
(seafood.vasep.com.vn) Vietnam's shrimp exports reached $375 million in July 2024, a 17% increase from July 2023. Shrimp exports in July recorded the highest value since the beginning of the year and this is also the month when Vietnam's shrimp exports saw the best growth rate since February this year. In the first 7 months of this year, the shrimp export turnover reached over $2 billion, up 8% compared to the same period last year.
The rice-shrimp cultivation area of Thoi Binh district in the Mekong Delta province of Ca Mau has received Best Aquaculture Practices' (BAP) certification of the Global Aquaculture Alliance (GAA).
(seafood.vasep.com.vn) In the past 7 months, the weather situation did not fluctuate much, contributing to ensuring favorable conditions for fishing and aquaculture activities in Da Nang. The total output of fisheries and aquaculture in the past 7 months increased compared to the same period last year.
(seafood.vasep.com.vn) With Japan currently a key market, the business results of Sao Ta Food Joint Stock Company (stock code FMC) in the second half of this year are expected to benefit from the Yen's appreciation again.
(seafood.vasep.com.vn) As of the end of July 2024, Can Tho City's total fishery output was estimated at 137,963 tons, a 11.32% increase compared to the same period last year. Of this, aquaculture production reached 134,669 tons, a 11.27% increase, mainly attributed to pangasius.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn