According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
More than $5 million worth of pangasius was bought by this nation from Vietnam earlier this year, an increase of 19% from January 2023 and 17% from January 2022. Vietnam's pangasius exports to the UK fell by 16% to about $4 million in February 2024, perhaps as a result of the Tet vacation coincided in the same month. Nevertheless, compared to the same month in 2022—the year that pangasius exports hit a record high—this number is still 1.5 times larger.
ITC data indicates that in January 2024, the UK imported 15,000 tons of whitefish worth USD 87 million from around the globe. Comparing this to January 2023, there has been a 12% decline in value and a 9% fall in volume. Just 8% of the world's total whitefish imports into the UK were from Vietnam, mostly are pangasius products.
The UK's top supplier of frozen cod fillet (HS code 030471), which is the most popular whitefish product among customers in this European nation, is China. Frozen cod fillet (HS code 030471) was imported into the UK for $10 million in January 2024 from China, a 40% decline from the same period the previous year and makes up 21% of the UK's global imports of whitefish. With a value of around $2 million in the first month of this year, Vietnam is ranked 7th among suppliers to the UK, rising 366% from the same period last year.
Following that, other products chosen by consumers in the UK include: frozen haddock fillet, HS code 030472, with $11 million, up 9%; frozen cod fillet, HS code 030463, with $6 million, up 28%; frozen fillet of Alaska pollock, HS code 030475, with $5.6 million, down 59% compared to the same period.
One of Vietnam's main export markets for pangasius is the UK, where demand is still largely steady. Pangasius exports showed promising outcomes in 2022 and 2023 as well. Vietnam's pangasius exports soared in most markets in 2022, but bad context of 2023 caused a decline in imports in many nations. Nevertheless, even with certain months seeing double-digit negative growth, pangasius exports to the UK increased by 9% overall in 2023 compared to the year before.
Concerns over environmentally friendly products and sustainability are growing among UK consumers. As a result, products exported to this market must abide by laws governing resource management, reduce their negative effects on the environment, and ensure production sustainability.
In March 2024, the top 5 Vietnam pangasius exporters to the UK include: Vinh Hoan Corporation accounting for 30% market share, NTSF Seafoods accounting for 20% market share, Godaco Seafoods and Dai Thanh Seafoods accounting for 7% market share each, and Phu Thanh Hai Corporation accounting for 6% market share.
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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