Pangasius

The US has a new president what impact will it have on Vietnam’s pangasius export
08:55 11/21/2024

(seafood.vasep.com.vn) Pangasius, a popular whitefish species favored in many global markets and a signature fish of Vietnam, faces stiff competition from other whitefish varieties such as cod, hake, and tilapia. However, Vietnamese pangasius has emerged as the top choice among whitefish imported by Brazil.

(seafood.vasep.com.vn) Vietnamese pangasius exports in September 2024 reached $172 million, a 3% increase compared to September 2023. The total value of pangasius exports by the end of the third quarter of 2024 was $1.5 billion, marking an 8% year-on-year increase.

(seafood.vasep.com.vn) In September 2024, Vietnam pangasius exports to Singapore reached $3 million, marking an 11% decrease compared to the same period in 2023. This marks the fourth consecutive month of negative growth in pangasius exports to this market, following slight increases of 14% and 2% in July and August 2024, respectively. The total value of Vietnamese pangasius exports in the first nine months of this year was $26 million, down 4% compared to the same period last year.

(seafood.vasep.com.vn) Vinh Hoan Corp is currently the largest exporter of Vietnamese pangasius fillet to the US, with a market share significantly higher than other listed companies.

VOV.VN - Vietnam’s shrimp exports during the eight-month period of the year to China soared by 21% to reach US$477 million against the same period from last year, according to figures released by the General Department of Vietnam Customs.

The U.S. Department of Commerce (DOC) has said Vietnamese exporters do not dump pangasius into U.S. market.

Value-added pangasius products, including dried fish maws and fish skin snacks, are increasingly popular among international consumers, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

With pangasius exports soaring by 9% to reach nearly US$1.3 billion during the initial eight months of the year, Vietnam is likely to achieve the set target of earning US$2 billion from the export of the fish this year, according to the General Department of Vietnam Customs.

(seafood.vasep.com.vn) Vinh Hoan Corporation (code VHC) has announced its business results for August with revenue of VND1,172 billion, up 5% compared to the previous month and up 31% compared to the same period last year.

(seafood.vasep.com.vn) Besides the main product of frozen Vietnamese pangasius fillets, consumers in many markets around the world also prefer other pangasius products, including frozen butterfly-cut pangasius HS code 03032400.

(seafood.vasep.com.vn) According to Vietnam Customs, in August 2024, Vietnam's pangasius exports to markets reached 191 million USD, an increase of 12% compared to August 2023. Cumulative pangasius exports in the first 8 months of this year reached nearly 1.3 billion USD, an increase of 9% over the same period last year.

(seafoos.vasep.com.vn) Data shows that the export volume of Vinh Hoan Joint Stock Company (Vinh Hoan Seafood, stock code VHC) in the first 7 months of this year accounted for 32% of Vietnam's pangasius exports to the UK.

(seafood.vasep.com.vn) The US Department of Commerce (DOC) has conducted an administrative investigation to review the anti-dumping tax order on frozen pangasius fillets from Vietnam for the review period from August 1, 2022, to July 31, 2023 (POR20)

According to Vietnam Customs, the export of value-added pangasius in the first eight months of 2024 has been evaluated as quite positive, with continuous growth in many major markets such as the United States, CPTPP, and the Netherlands...

(seafood.vasep.com.vn) China and the US are the two largest whitefish import markets in the world. Vietnam is the second largest supplier for both markets (mainly supplying pangasius). Frozen pangasius fillets are still the main product imported from Vietnam by these two countries.


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