In the first nine months of 2024, the export value of frozen pangasius fillets to the EU reached over USD 120 million, a 1% decline compared to the same period in 2023, accounting for 94% of total exports. Exports of dried and other frozen products (such as swim bladders, fish steaks, and whole fish) to the EU reached over USD 5 million, a 1% year-on-year increase. Exports of value-added pangasius products totaled USD 2.6 million, a 6% decrease compared to 2023.
The average export price of Vietnamese pangasius to the EU remained below USD 3/kg in the first nine months of this year, showing negative growth in all months compared to 2023. In September 2024, the average export price dropped by 13% year-on-year to USD 2.3/kg. May 2024 recorded the highest price at USD 2.55/kg, a 5% decrease from the same month last year.
Export volumes have shown a declining trend throughout the year. February 2024 recorded the lowest export volume to the EU market, with just over 3,000 tons, a 34% year-on-year decrease. From March 2024 onward, pangasius export volumes to the EU continued to decrease monthly, reaching only about 6,000 tons in September 2024, despite a 3% increase.
The Netherlands remains the largest importer of Vietnamese pangasius in the EU. August 2024 saw the highest monthly export value to the Netherlands in Q3 2024, exceeding USD 4.4 million, a 27% increase year-on-year. In Q3 2024, pangasius exports to the Netherlands totaled nearly USD 13 million, a 20% year-on-year increase. By the end of September 2024, exports to the Netherlands had reached USD 36 million, a 2% increase from the same period in 2023.
Globally, the Netherlands is recognized as one of the top countries for health-conscious consumers. It ranks first worldwide, surpassing France and Switzerland, for producing a diverse, abundant, nutritious, and affordable food supply. Dutch consumers prioritize healthy eating and often choose Vietnamese pangasius as a staple in their daily meals. As one of the largest importers of Vietnamese pangasius and consistently the leading EU consumer of this product, the Netherlands underscores the quality, taste, and nutritional value of Vietnamese pangasius.
Beyond the Netherlands, several EU markets have also recorded positive growth in Vietnamese pangasius imports in the first nine months of 2024. These include Lithuania (up 232%), Ireland (up 227%), Italy (up 163%), Poland (up 138%), Spain (up 133%), Slovenia and Belgium (up 123%), and Hungary (up 116%). However, some countries reported declines, including Finland (down 89%), Latvia (down 66%), Slovakia (down 39%), and Denmark (down 28%).
Pangasius exports to the EU have remained inconsistent month-to-month, with unpredictable fluctuations. However, exports are expected to rise toward the end of the year as demand increases for stockpiling goods in preparation for the festive season. Enterprises should seize this opportunity to boost exports, actively promote their products, and strengthen their presence in the EU market.
The Report on Vietnam Seafood Exports in 2024 by the Vietnam Association of Seafood Exporters and Producers (VASEP) was published amid positive developments in the country's seafood industry, marking a successful year with a total export value of USD 10 billion, a 12% increase compared to 2023. This milestone underscores the sustainable growth and exceptional potential of the seafood sector in contributing to the national economy.
(seafood.vasep.com.vn) Vietnam's tuna sector faced numerous challenges in the latter half of 2024. While the year proved memorable, with export turnover reaching nearly USD 1 billion, maintaining this growth trajectory requires renewed impetus for the tuna industry.
With Tet (Lunar New Year) approaching, fishermen along Vietnam's central coast are capitalizing on favourable weather conditions to intensify their fishing efforts, meeting the burgeoning demand for seafood across the nation.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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