Expectations for growth in pangasius exports to South Korea.

DNVN - Consumers in South Korea are gradually changing their perceptions, reducing their consumption of red meat products and instead choosing healthier white-fleshed fish. Therefore, the demand for imported Vietnamese pangasius fish in this country may increase.

According to data from Vietnam Customs, in April 2024, Vietnam's pangasius exports to South Korea reached nearly US$773,000, an increase of almost 3.5 times compared to April 2023, but a decrease of 16% compared to the previous month. For the first four months of 2024, pangasius exports to South Korea totaled over US$2.4 million, an increase of 18% compared to the same period last year.

According to the Vietnam Association of Seafood Processing and Export (VASEP), frozen pangasius fillets remain Vietnam's main export item to South Korea.

In April 2024, exports of frozen pangasius fillets to South Korea reached over $637,000, a 424% increase compared to April 2023. By the end of April 2024, South Korea's imports of frozen pangasius fillets from Vietnam reached over $1.8 million, a 28% increase year-on-year, accounting for 75% of total imports.

In the first four months of 2024, pangasius exports to South Korea reached over $2.4 million, an 18% increase compared to the same period last year.

In the first four months of this year, Vietnam exported nearly $84,000 worth of value-added pangasius to South Korea, a decrease of 21% compared to the same period last year, and accounting for 3% of the total.

According to data from the International Trade Centre (ITC), in 2013, Vietnam was the sixth largest supplier of whitefish (mainly pangasius) to South Korea, with a value of nearly $5 million. Vietnam ranked behind Russia, the United States, Taiwan, Japan, and China.

Ten years later, exports of whitefish (mainly pangasius) to South Korea reached over $10 million in 2023, double the amount in 2013. Vietnam is the third largest supplier to South Korea, with pangasius being a strong product, accounting for 3% of the country's total whitefish imports from the world .

Among these, Alaska pollock and cod are two very popular and sought-after whitefish products in the South Korean market. These products attract the consumer preferences of the country. Russia and the United States remain the two largest suppliers to South Korea, with values ​​reaching $273 million (down 5%) and $74 million (up 23%) respectively compared to 2013.

"Consumers in South Korea are gradually changing their perceptions, reducing their consumption of red meat products and instead choosing healthier white fish. This could lead to an increase in the proportion of white fish imports in the country's seafood import structure," VASEP noted.

Thu An

Source: https://doanhnghiepvn.vn/kinh-te/ky-vong-tang-truong-xuat-khau-ca-tra-sang-han-quoc/20240603080809831