According to Vietnam Customs, Vietnam's pangasius exports to Brazil recorded a 26% year-on-year growth as of September 15, 2024, reaching over $81 million. In just the first half of September, pangasius export value to this market reached nearly $5 million, a 3% increase compared to the same period in 2023. Brazil is the third largest destination for Vietnamese pangasius, following China and the US.
Vietnam's pangasius exports to Brazil have shown steady growth since the beginning of the year, except for a 10% decline in August 2024, reaching only $12 million. This marked the second month of declining pangasius exports to Brazil, with the previous decrease occurring in February 2024, when exports fell by 6% to USD 6 million due to the Lunar New Year holiday.
The South American nation primarily consumes frozen pangasius fillets from Vietnam. The market imports few other frozen products (whole fish, portion, maw, etc.) and almost no value-added pangasius products from Vietnam as of September 15, 2024.
According to the International Trade Centre (ITC), frozen pangasius fillets under HS code 030462 are the most imported product by Brazil from global markets. In the first eight months of this year, Brazil imported nearly USD 86 million worth of frozen pangasius fillets under HS code 030462, a 54% increase compared to the same period last year. January witnessed the highest consumption of frozen pangasius fillets in the country, with nearly $17 million, a doubling compared to January 2023. Vietnam is the primary supplier of whitefish (mainly pangasius) to this market in the first eight months of 2024, and the sole supplier of frozen pangasius fillets under HS code 030462.
In recent years, consumers in this South American country have shown an increasing demand for convenient processed products. Notably, São Paulo, Brazil's most populous and wealthiest city, leads the country's trend of seeking frozen or processed seafood products that are nutritious and healthy. Meanwhile, Brazil imports almost no value-added pangasius products from Vietnam. This market still holds significant potential for Vietnamese exporters to explore.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
(seafood.vasep.com.vn) Khánh Hòa province is currently leading the way in implementing Electric Catch Documentation and Traceability System (eCDTs).
(seafood.vasep.com.vn) The European Union, with its stringent quality requirements, has become an attractive destination for the shrimp industry of many countries, including Vietnam. Vietnamese shrimp meeting EU export standards not only increases product value but also solidifies Vietnam's position in the global seafood market.
(seafood.vasep.com.vn) Vietnam's shrimp exports accounted for the highest export value among all seafood products in the first nine months of the year, reaching nearly $2.8 billion, a 10.5% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to the Ben Tre Statistics Department, the province’s aquaculture sector has been relatively stable and has experienced growth recently, particularly due to the high efficiency of intensive shrimp farming models.
(seafood.vasep.com.vn) In the third quarter, several Vietnamese seafood companies announced strong financial results, showcasing resilience and growth in a challenging market.
(seafood.vasep.com.vn) In the first nine months of 2024, the fishery production of Soc Trang province has continued to be stable and develop. The farming area and fishery output have increased compared to the same period last year. The consumption of seafood products has generally been favorable.
(seafood.vasep.com.vn) In the first nine months of 2024, aquaculture in Kien Giang province has shown potential growth, helping to offset the decline in capture fisheries.
(seafood.vasep.com.vn) Vietnam's exports of frozen tuna meat/loin have continuously grown during the first eight months of 2024. Notably, in August 2024, the export value of frozen tuna meat/loins hit a year-to-date high, exceeding $51 million, up 19% compared to the same period.
(seafood.vasep.com.vn) Among Vietnam's bivalve molluscs exports, clams have emerged as a leading product, accounting for over 52% of the total export value.
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