Vietnam pangasius exports aim to reach 2 billion USD in 2024

Vietnam's pangasius export turnover to markets in December 2023 reached more than 158 million USD, an increase of 5% of proportion over the same period in 2022. This is also the second consecutive month that pangasius export value recorded an increase in 2023. 

Regarding export markets, in 2023, China & HK had continued to be the largest import markets for pangasius from Vietnam. In 2023, pangasius exports to China & HK had reached nearly 573 million USD, down 20% compared to the same period in 2022. This market had increased imports of pangasius products since September 2023 and continuously recorded positive growth in the 2 consecutive months. However, in December 2023, pangasius export turnover to China decreased slightly by 2%, causing total exports to China & HK to decrease by 0.4% compared to the same period in 2022. According to China custom statistics, the first 11 months of the year In 2023, China imported about 154 thousand tons of pangasius, down 35% over the same period. Many agents in this country are starting to stockpile and import more pangasius products to meet demand before the 2024 Lunar New Year.

In December 2023, pangasius exports to the US for the first time recorded positive growth of 21% of proportion compared to the same period in 2022, after 11 consecutive months of decline. Export turnover to the US in the last month of 2023 reached nearly 20 million USD, down 15% compared to the previous month and only higher than January, February, and July 2023 - months that recorded a deep decline from 43% - 81%.

In 2023, the CPTPP market had imported nearly 249 million USD of pangasius from Vietnam, down 24% of proportion compared to 2022. CPTPP is also a market that had seen a deep decline in pangasius imports in 2023, but there are signs of growth returned in the last quarter of 2023. In December 2023, the value of pangasius exports to this market reached its highest level since the beginning of the year, a slight increase of 7% over the same period. After 5 years, the CPTPP agreement has opened more opportunities for Vietnamese pangasius to come closer to every meal of consumers in this market block. 

In 2023, pangasius exports to four main markets had decreased significantly. Vietnamese seafood exports, including pangasius, had faced many difficulties such as economic recession, consumers limiting spending, large inventories and global inflation.  However, with the flexible management of the Government and the efforts of the entire industry, Vietnamese pangasius products continue to conquer markets in 146 countries and territories around the world. In addition to the main product of pangasius fillets, by-products (dried pangasius maw, patties, breaded pangasius...) are popular in the US, China, Malaysia, and Singapore markets.

In 2024, the pangasius industry sets main goals as following:  farming area reaches 5,700 hectares, commercial pangasius output reaches about 1.7 million tons, and export turnover is expected to reach 2 billion USD. 

To achieve this goal, the entire industry needs to focus more on building strong brands and marketing campaigns to enhance the presence and reputation of Vietnamese pangasius in the international market; Promote pangasius products through international exhibitions and fairs, build a network of domestic and foreign partners and customers.