After falling continuously from the beginning of the year to the lowest level in 2022 of nearly $3.5 million in May, pangasius exports to the Brazilian market are gradually recovering. Vietnam pangasius exports to this market in August reached $8.7 million, the highest level in the past 7 months. Compared to the same period in 2021, pangasius exports to this market in August 2022 increased by 179% and increased by 31% compared to July 2022.
By the end of August 2022, the total value of Vietnamese pangasius exports to Brazil increased by 55% over the same period last year. The increase in exports was mainly because of the higher price.
According to statistics of the World Trade Center (ITC), the average price of Vietnamese pangasius exported to Brazil in the first 7 months of this year increased by 43% over the same period last year. Therefore, while the volume of pangasius exports to Brazil in this period decreased by 5%, the value still increased by 36%. The average price of Vietnamese pangasius imports into this market increased continuously from the beginning of the year and reached the highest level of 3.4 USD/kg in July 2022.
In the first 7 months of this year, Brazil imported 164,000 tons of seafood, worth 791 million USD, down 17% in volume but up 19% in value. In which, imports of white fish species such as cod, pangasius, tilapia, etc accounted for 23% in volume and 21% in value of seafood imports.
Pangasius imports from Vietnam account for 46% of the volume and 33% of the value of white fish imported to Brazil. Due to the Russia-Ukraine war, the amount of cod entering the Brazilian market became scarcer. Compared with cod, the price of Vietnamese pangasius imported into Brazil was still more affordable.
Despite being a country with a long coastline and abundant water resources, with a rich and diverse aquatic biodiversity, 60% of the seafood that Brazilians consume is imported from other countries in South America, Asia and Europe, because of a number of factors such as culture, traffic difficulties. Some fish species favored by Brazilians include Chilean salmon, Vietnamese pangasius and North Atlantic cod.
Brazil is also affected by the Russia-Ukraine conflict and high inflation. In that context, according to retailers in this market, pangasius has the advantage because it is affordable and fits the taste of Brazilian consumers.
The Brazilian market has completely opened, there is almost no concern about Covid, the Brazilian economy is showing optimistic signals after growing 2.6% in Q2/2022. The bilabal relationship between Vietnam and Brazil is developing more and more actively. Those are good signs for Vietnamese agricultural products, including pangasius, to increase their market share to this market in the near future.
Compiled by Thuy Linh
(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.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
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