In February 2024, pangasius exports witnessed negative growth in most markets and most product segments. Despite a double-digit decline, cumulative pangasius exports to markets by the end of February 2024 still increased by 6% over the same period and reached 255 million USD. This increase was mainly due to a record increase in export value in January 2024, when many markets increased imports to stock up for the Lunar New Year holiday.
Regarding the consumption market, China and Hong Kong were still the leading pangasius importers of Vietnam, with 23 million USD consumed in February 2024, down 65% compared to February 2023. In the first two months of this year, the value of pangasius exports to this market reached 75 million USD, down 4% compared to the same period in 2023. In February 2024, Truong Giang Seafood Joint Stock Company was Vietnam's largest exporter of exports to this market.
In February 2024, the US imported 16 million USD of pangasius from Vietnam, down 8% compared to February 2023. Cumulative pangasius exports to this market in the first 2 months of this year reached 34 million USD, up 25% over the same period last year, mainly thanks to the turnover of the previous month nearly doubling. Recently, the US Department of Commerce announced the final results of the 19th administrative review (POR 19) for Vietnamese frozen pangasius fillets exported to the US market in the period August 1, 2021–31, 2022. Accordingly, the general anti-dumping tax rate that DOC imposes on Vietnamese pangasius export enterprises in this review is 2.39 USD/kg. According to the final results of the POR19 review, Vinh Hoan Joint Stock Company is entitled to a tax rate of 0.00 USD/kg. The other 5 enterprises are: CASEAMEX, LOC KIM CHI SEAFOOD JSC, I.D.I INTERNATIONAL DEVELOPMENT AND INVESTMENT CORPORATION, HUNG VUONG PANGA and CAFATEX are subject to an anti-dumping tax of 0.18 USD/kg.
Pangasius export turnover to the CPTPP market in the first 2 months of this year surpassed the US and became the second largest market in Vietnamese pangasius consumption with 37 million USD, an increase of 19% over the same period last year. In February 2024 alone, this market block consumed nearly 13 million USD of pangasius, down 28% compared to February 2023. Canada stands out with a positive growth rate of 23%, while most other countries have reduced imports.
Difficulties and challenges remain, but positive information from the US market is also a good sign for Vietnamese pangasius exports soon.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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