In August 2022, Vietnam pangasius exports reached 195 million USD, a slight increase compared to July and up 123% compared to the same period in 2021. This growth rate does not reflect the positive trend because August 2021 was the peak of the covid 19 pandemic, export activities were almost shut down.
In August, Vietnam's pangasius exports to many markets showed positive signs. In which, exports to China were 37% higher than the previous month, reaching nearly 61 million USD, nearly double the sales to the US market.
Brazil, Thailand, Colombia, Japan, and Malaysia markets all tend to increase pangasius imports in August.
However, pangasius exports to some markets slowed down in August compaired to July. For example, Mexico decreased by 28%, the UK by 17%, Canada by 35%, Australia by 13%, the EU by 10%.
Although pangasius exports to the US have recovered slightly, up 4% compared to the previous month, the sales are still quite modest at 33 million USD. Pangasius exports to this market are expected to be more positive in September and October when inventories decrease and import demand increase to serve for the year-end and New Year holidays. Moreover, the inflation in the US is forecast to remain high in the last months of the year, which will drive the country's food and seafood consumption towards affordable products such as pangasius.
The US Department of Commerce (DOC) has issued the Final Conclusion of the 18th Anti-Dumping Tax Administration Review (POR18) for the period from August 1, 2020 to July 31, 2021 for Vietnamese pangasius. Accordingly, DOC has kept the anti-dumping tax rate applied to each company based on the results of the most recent surveys. Therefore, this decision does not affect the trend of pangasius exports to the US this year.
The average export price of frozen pangasius in August 2022 reached US$2.81/kg, the lowest level in the past 6 months. In particular, the price of pangasius exported to the US still reached the highest level of 5 USD/kg, which is the highest level since the beginning of the year. The average price of frozen pangasius exported to China reached $2.39/kg in August. The export price to the Philippines was the lowest in the markets, reaching 1.57 USD/kg.
In general, the average price of pangasius exports in the first 8 months of this year increased sharply compared to the same period in 2021. In which, the average price of frozen pangasius exports to the US reached $4.64/kg, to China reached 2.47 USD, to Mexico 2.75 USD, to Thailand reached 2.15 USD and to Brazil reached 3.20 USD/kg.
Compiled by Thuy Linh
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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