Pangasius exports to the US increased by 41% after 10 years

(seafood.vasep.com) The US is one of the largest import markets for Vietnamese pangasius. After 10 years of establishing the comprehensive partnership between Vietnam and the US, Vietnam's pangasius export turnover to this country in 2022 reached 537 million USD, an increase of 41% compared to 2013.

The US market ranked top 1 in Vietnam's largest pangasius consumption market in 2015 and 2016. This time is 2 years after Vietnam - the United States established a comprehensive partnership in 2013. Since 2019, the US has remained the second largest pangasius import market after China & Hong Kong, accounting for about 22%.

As of August 15, 2023, Vietnamese pangasius exports to the US reached 169 million USD, down 59% over the same period last year. The US is not a very optimistic market for Vietnamese pangasius in the first months of this year due to inflation, economic decline, especially high inventory because this market imports a lot in the first half of 2022. This is also one of the main reasons why the US's pangasius import rate slowed down in the first months of this year.

Chú thích ảnh

The export price of Vietnamese pangasius to the US market fluctuated at 2.97 - 3.45 USD/kg in the first 6 months of this year

The export price of Vietnamese pangasius to the US market fluctuated at 2.97 - 3.45 USD/kg in the first 6 months of this year. Vietnam mainly exports frozen pangasius fillets; frozen pieces/cuts of pangasius; frozen breaded pangasius; Dried puffed pangasius and fried pangasius skin to the US market.

The top 3 leading enterprises in Vietnam exporting pangasius to the US include: Vinh Hoan, Bien Dong Seafood, Van Duc Tien Giang, accounting for 51%, 18%, and 11% of the value respectively.

On September 7, 2023, the US Federal Register (Federal Register) announced the preliminary results of the 19th administrative review (POR19) for Vietnamese frozen pangasius fillets exported to the US during the period (August 1, 2021 - July 31, 2022).

Accordingly, two Vietnamese pangasius export enterprises: Vinh Hoan Corp and Caseamex are mandatory defendants. Vinh Hoan Corp has a tax of 0, Caseamex has a tax of 0.14 USD/kg. Other businesses also enjoying a tax of 0.14 USD/kg are I.D.I CORP, Cafatex Seafood JSC, Loc Kim Chi Seafood JSC and Hung Vuong JSC. The preliminary tax rate of POR19 is reduced compared to the final results of the previous POR18.

Chú thích ảnh

Accordingly, two Vietnamese pangasius export enterprises: Vinh Hoan Corp and Caseamex are mandatory defendants.

During the year-end holiday season, inventory is gradually decreasing, and positive results after the FSIS inspection will create positive psychology for Vietnamese pangasius exporters to the US in the last months of the year.

After 28 years of Vietnam and the US establishing diplomatic relations (1995-2023) and 10 years of establishing Comprehensive Partnership (2013-2023), on the occasion of the State visit to Vietnam by US President Joe Biden, Vietnam and the US on September 10, 2023 announced to upgrade relations to the highest level of "Comprehensive Strategic Partnership". Accordingly, the two sides will develop their relationship comprehensively, in all important fields, and economic cooperation will be prioritized in the immediate future. It is expected that the new step in diplomatic relations between Vietnam and the US will open up opportunities for Vietnam's seafood export industry, including pangasius, to achieve more success, bringing the flavor of this delicious, nutritious and affordable price fish become more popular in this market. 

Compiled Thuy Linh 


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SPECIALIST ON
PANGASIUS MARKET

Ms Thu Hang

Email: thuhang@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

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