Regarding the consumer market, in March 2024, China and Hong Kong bought more than 36 million USD from Vietnam, down 44% compared to March 2023 and up 56% compared to the previous month. In the first quarter of 2024, Vietnam exported nearly 112 million USD of pangasius to this market, down 22% compared to the same period last year. This decrease was mainly because, in February 2024, both Vietnam and China had the Lunar New Year holiday. China and Hong Kong continue to be the largest import markets for Vietnamese pangasius, accounting for 27% of the total value of Vietnam's exports to markets.
Behind China and Hong Kong, the US imported nearly 31 million USD of pangasius in March 2024, a slight increase of 0.03% compared to March 2023 and nearly double compared to February 2024. This was also the month that recorded the highest pangasius export value to the US since June 2023. Cumulative exports of Vietnamese pangasius to the US in the first 3 months of this year reached nearly 65 million USD, up 12% over the same period last year. The average price of pangasius exports to the US in the first months of this year has increased compared to the fourth quarter of 2023 but is still lower than the same period last year.
Pangasius export turnover to the US in the first quarter of this year was one of the positive signs for 2024 with new orders when inventory in this country is decreasing.
In March 2024, Vietnam exported nearly 22 million USD of pangasius to the CPTPP market, down 8% compared to March 2023. In the last month of QI/2024, some markets recorded positive growth in pangasius imports, including Brunei, Canada, Japan, New Zealand, Chile,... Notably, Mexico was the country that consumed the most pangasius in March 2024 in the bloc, with an import value from Vietnam of nearly 5 million USD, down 21% over the same period last year. Followed by Japan with more than 4 million USD, up 26% over the same period last year and up 129% over the previous month. In QI/2024, CPTPP consumed more than 59 million USD of pangasius, an increase of 8% over the same period.
In the context of inflation and war with a series of supply security risks, countries tend to look for products with stable supply and reasonable prices, such as Vietnamese pangasius.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's tuna exports in October reached nearly $93 million, marking a 22% increase compared to the same period in 2023. In the first ten months of 2024, the total export value exceeded $821 million, up 18% compared to the same period last year.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports to the EU reached USD 7 million in the first half of October 2024, marking a 27% year-on-year increase. As of October 15, 2024, cumulative exports to the EU totaled over USD 134 million, reflecting a slight 0.01% decrease compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius export revenue in October 2024 reached nearly $202 million, a 17% increase compared to October 2023. The cumulative export value for the first ten months of the year totaled $1.7 billion, marking a 9% year-on-year increase.
(seafood.vasep.com.vn) Vietnam's exports of crabs and other crustaceans continued to see high growth in September 2024, with a 54% increase compared to the same period in 2023. In the first nine months of the year, exports of crabs and other crustaceans reached over USD 228 million, a 67% increase year-over-year.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached $394 million in October 2024, up 24%. In the first ten months of this year, shrimp exports brought in $3.2 billion, up 13% compared to the same period last year. Exports to all major markets recorded double-digit growth in October.
International Development and Investment Corporation (IDI), a key member of the Sao Mai Group, has consistently ranked among the largest seafood producers and exporters in Vietnam.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(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.
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