There was a 6% decline in Vietnam's pangasius exports to Brazil in February 2024 compared to the same period in 2023, with the total value reaching 6 million USD.
Vietnam's pangasius exports to Brazil saw a significant increase of 42% in the first two months of 2024 compared to the same period in 2023, reaching a total value of 20 million USD. The strong growth in January 2024 was the main driver behind this positive performance. However, there was a slight decrease in pangasius exports to Brazil in February 2024 due to the Lunar New Year holidays in both countries.
In February 2024, Brazil ranked fifth in the list of Vietnam's largest pangasius export markets, behind China & Hong Kong, the US, CPTPP, and the EU. Brazil is a major importer of frozen pangasius fillets from Vietnam. The growing middle class in Brazil presents a significant opportunity for Vietnamese businesses to export value-added pangasius products. The upcoming 30th anniversary of diplomatic relations between Vietnam and Brazil is expected to further boost cooperation in agricultural trade, including pangasius exports.
Hung Ca 2 Development Company continues to be the leading exporter of pangasius from Vietnam to Brazil in February 2024, accounting for 34% of the total export value to this market. Following Hung Ca 2, the top 5 exporters of pangasius to Brazil are GODACO_SEAFOOD with 9%, Fresh and Frozen Food Vietnam with 12%, HOANG LONG SEAFOOD with 14%, and NAVICO with 11%.
The International Trade Centre (ITC) reports that in 2023, export volume increased, indicating that the demand for pangasius consumption in Brazil is still high, even though the price of Vietnamese white meat fish exports —mostly pangasius— to this nation decreased. Over 41 million USD worth of white meat fish were imported by Brazil in January 2024 from around the globe, with 17 million USD coming from Vietnam (mostly tra fish). Brazil's main source of white fish imports is still Vietnam.
In February 2024, the FOB price of pangasius exports to Brazil was 2.67 USD/kg, which was 12% less than in the same month the previous year. Since 2022, this price level has been the lowest in the previous three years. On the other hand, a 23% increase in pangasius exports to this market has demonstrated the opposite trend.
Brazil is presently enforcing rules for contaminants and additives, as well as testing additive criteria for Vietnamese pangasius that are inconsistent with market expectations and international standards.
Recently, officials from Brazil's Ministry of Agriculture, Livestock and Food Supply (MAPA) and Vietnam's Ministry of Agriculture and Rural Development( MARD) convened for a working session. Along with changes to administrative procedures related to product labeling registration and faster recognition and processing of Vietnam's agricultural export enterprises list to Brazil, (MARD) proposed that Brazil review these regulations.
(seafood.vasep.com.vn) The first two months of 2025 recorded positive signals in Vietnam's seafood export activities, with total revenue reaching USD 1.423 billion, growing 18.2% compared to the same period in 2024. In February 2025, the export value hit USD 655.197 million, showing an impressive growth of 42.6%.
(seafood.vasep.com.vn) Kiên Giang Province, home to over 13,000 fishing vessels, is intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing. Faced with challenges from offshore fishing, many vessels have shifted to near-shore fishing using destructive methods, severely damaging marine ecosystems.
(seafood.vasep.com.vn) Vinh Hoan Corporation (HOSE: VHC) continues to solidify its position as the leader in Vietnam's pangasius export industry with impressive business results in 2024 and positive prospects for 2025. Factors supporting growth, such as recovering demand, improved selling prices, and favorable international trade policies, make Vinh Hoan one of the top stocks to watch in investment portfolios for 2025.
Amid global trade uncertainties, Việt Nam is prioritising compliance with international market requirements to maintain and expand its agricultural exports.
On February 26, 2025, VinFast and the Vietnam Association of Seafood Exporters and Producers (VASEP) signed a comprehensive cooperation agreement to strongly promote green transformation goals. The collaboration between the two parties will contribute to the realization of the country’s sustainable development goals and help elevate the Vietnamese brand on the international market.
(seafood.vasep.com.vn) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
(seafood.vasep.com.vn) In January 2025, the country's total seafood output was estimated at 594,100 tons, a 0.7% increase compared to the same period last year. Specifically, fish production reached 443,400 tons, up 0.7%; shrimp output was 56,300 tons, up 3.1%; and other seafood products totaled 94,400 tons, down 0.9%.
(seafood.vasep.com.vn) The industrial pangasius production in Vinh Long province in 2024 reached 95,100 tons, a 4% decrease compared to 2023. Despite the decline in production, positive trends in the final months of the year offer hope for improving economic efficiency in the near future. Additionally, the increase in the area for industrial pangasius farming and the maintenance of overall aquaculture area demonstrate the province’s efforts to sustain its production activities.
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
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