Vietnamese high value added pangasius products are "hot" in the international market

In May 2024, exports of high value added pangasius products with HS code 16 reached more than 2 million USD, down 3% compared to May 2023. By the end of May 2024, exports of these products reached more than 13 million USD, an increase of 22% over the same period in 2023.

The top 5 destinations for Vietnamese added value pangasius in the first 5 months of this year include Singapore with 3 million USD, accounting for 23% of the proportion; Thailand with 2.6 million USD, accounting for 20% of the proportion; Japan with 1.4 million USD, accounting for 10% of the proportion; Australia with 1.1 million USD, accounting for 9% of the proportion; and the US with 1 million USD, accounting for 8% of the proportion.

Among them, the most popular product is fried breaded pangasius/frozen breaded pangasius fillets with HS code 16041990, accounting for 82% of the total export of value-added products to markets in the first 5 months of this year, with export value reaching nearly 11 million USD, up 31% over the same period last year. The top 5 markets consuming the most pangasius with HS code 16041990 include: Singapore, which accounts for 25%, Thailand, which accounts for 24%, Japan accounts for 11%, the US accounts for 9%, and Australia accounts for 8%.

In addition, the crispy fried pangasius skin snack product or frozen fried basa fish cake with HS code 16042099 is also favored by consumers in various markets. Exports of this product reached nearly 400 thousand USD in May 2024 and nearly 2 million USD in the first 5 months of this year.

The export of some other value-added pangasius products, such as breaded, frozen fried pangasius pieces with HS code 16042091, frozen basa fish balls mixed vegetables with HS code 16042030,... also recorded an increase in export value in the first 5 months. This year, it is nearly 300 thousand USD, an increase of 52%, and 113 thousand USD, an increase of 33% over the same period last year.

At the end of April 2024, nearly 40 Vietnamese enterprises, including pangasius export enterprises, introduced a series of processed products to foreign partners through the 2024 Global Seafood Exhibition in Spain. Ready-to-eat products attract many visitors to enjoy them right at the booths. The processed products are very diverse, mixed with many ingredients, and highly appreciated by customers.

Besides the main product, which is frozen pangasius fillets, Vietnamese high value added pangasius is increasingly asserting its position in the international market. Market fluctuations in recent years have shown that choosing a business strategy for processed added value products is a strategic direction for Vietnamese seafood enterprises. The potential for exporting high value added pangasius will create many more opportunities in markets, requiring businesses to proactively adapt to catch up with needs and opportunities.