Pangasius export turnover in 9 months is estimated to reach nearly 1.5 billion USD

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's pangasius exports in the third quarter of 2024 are estimated to reach 544 million USD, an increase of nearly 14% compared to the third quarter of 2023. Pangasius exports in the first 9 months of 2024 brought in a turnover of 1.46 billion USD, an increase of 8% over the same period last year. Of which, although the processed pangasius group accounts for a modest proportion, it increased dramatically by 42%, frozen whole pangasius increased by 24%, and frozen fillet/cut pangasius increased slightly by 4%.

Pangasius exports in the first 9 months of this year are considered quite positive compared to the same period last year, when the entire export turnover continuously recorded positive growth. However, Customs data shows that in the first half of September 2024, some major markets witnessed a slight decline such as China & Hong Kong (China) down 19%, of which Hong Kong (China) alone down 17%, Thailand down 23%.

Pangasius export turnover in 9 months is estimated to reach nearly 1.5 billion USD. Photo: TL

Cumulative pangasius exports to markets as of September 15, 2024 generally recorded growth due to positive export results in previous months. Specifically: As of September 15, 2024, pangasius exports to the US reached 240 million USD, up 23%; Brazil reached 81 million USD, up 26%; Thailand reached 43 million USD, up 9%.

In the first half of the last month of the third quarter of 2024, Mexico continued to lead the CPTPP market in Vietnamese pangasius consumption with a value of 3 million USD, up 25% over the same period last year, contributing 30% of total CPTPP pangasius imports from Vietnam. Cumulative pangasius exports to Mexico as of September 15, 2024 reached 55 million USD, up 19% over the same period last year.

After Mexico, pangasius exports to Canada reached 2 million USD in the first half of September 2024, up 49% over the same period last year. As of September 15, 2024, pangasius exports to this market reached more than 28 million USD, up 13% over the same period in 2023.

After 5 years since coming into effect in January 2019, CPTPP has played an important role in promoting Vietnam's trade with markets in the Americas, especially member markets including Canada, Mexico, Chile, and Peru (in which Canada, Mexico and Peru are the markets that have FTA relations with Vietnam for the first time).

In addition, in the first weeks of September 2024, the price of raw pangasius continued to increase, showing signs of warming up. In week 37, the price of raw pangasius was VND 26,400/kg, down from VND 28,900/kg in week 33, but still relatively high compared to other times in the first 8 months of 2024.

As of week 37, the price of 800gr - 1000gr fish was 27,100 VND/kg; 1000gr - 1200gr was 27,460 VND/kg, the last time this type had such a high price was in week 10, which shows that the market is in short supply of larger fish; and fish over 1200gr was 27,565 VND/kg, almost the same as the price of weeks 30 and 31. Previously, the price of raw pangasius fish of 800gr - 1000gr in the first 8 months of this year was generally lower than in 2023 and 2022.

With expectations of continued warming export prices and growth in export turnover, Vietnam's pangasius exports in the third quarter of 2024 will still achieve positive results, as markets are gradually preparing goods to serve consumer demand during the 2024 year-end festival season.

Notably, value-added pangasius products will continue to break through and grow strongly in markets, especially China. Therefore, preparing goods to meet market demand will help businesses not waste potential and opportunities to expand market share for these products.

According to Vietnam Customs data, Vietnam's pangasius exports in the first half of September 2024 reached 77 million USD, a slight increase of 1% over the same period in 2023. Cumulative exports as of September 15, 2024 reached nearly 1.4 billion USD, an increase of 9% over the same period last year.

Source: https://congthuong.vn/kim-ngach-xuat-khau-ca-tra-9-thang-uoc-dat-gan-15-ty-usd-351027.html