Value-added pangasius exports continue to set records
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), value-added pangasius exports continued to record a 30% growth in the first 7 months of 2024, with a value of more than 21 million USD. Exports of dried pangasius and other frozen pangasius products (whole, cut, bladder, etc.) reached nearly 200 million USD, up 22% over the same period. The export value of Vietnam's main pangasius product (frozen fillets) in the first 7 months of this year reached 881 million USD, up 6% over the same period last year.
Regarding consumption markets, China and Hong Kong continue to be the largest consumers of Vietnamese pangasius. Pangasius exports to this market in July 2024 reached 55 million USD, up 23% over the same period last year. In the first 7 months of this year, pangasius exports to China and Hong Kong reached 313 million USD, down 4% over the same period, mainly due to decreases in February and March 2024.
Farmers in the Mekong Delta are excited because pangasius exports are improving thanks to demand from key markets. Photo: TL
Vietnam’s pangasius exports to China and Hong Kong in July 2024 showed strong growth compared to the same period in 2023. This growth could be maintained in the second half of 2024 thanks to demand recovery, improved product quality and successful trade strategies. However, the export industry needs to continue to monitor and adjust to the impact factors to maintain and expand the market.
Pangasius exports to the US in July 2024 reached 31 million USD, up 69% over the same period in 2023. Cumulative pangasius exports to the US in the first 7 months of 2024 reached 190 million USD, up 20% over the same period last year.
The CPTPP market block is the third largest destination for Vietnamese pangasius, with export value in July 2024 reaching 28 million USD, up 41% over the same period last year. By the end of July 2024, pangasius exports to the CPTPP market block reached 155 million USD, up 15% over the same period in 2023. Mexico is the country that consumes the most Vietnamese pangasius in the CPTPP block, with nearly 10 million USD, up 94% over the same period.
In July 2024, pangasius exports to the EU reached 14 million USD, up 7% over the same period last year. Cumulative pangasius exports in the first 7 months of this year to this market reached 99 million USD, down 2% over the same period in 2023. In particular, although the Netherlands is still leading the bloc in consuming Vietnamese pangasius, the export value to this market in the first 7 months of this year still witnessed a decrease of 4% over the same period, mainly due to the decline in February and May 2024.
According to experts from the Vietnam Association of Seafood Exporters and Producers (VASEP), the growth momentum of pangasius exports will "maintain its momentum" in July 2024 despite barriers and difficulties. In the last months of the year, when the festive season and holidays come, the number of pangasius orders from Vietnam will continue to grow.
Vietnamese Pangasius is popular in Mexico
As a dynamically developing economy with a large population and a gateway to more than 500 million consumers, Mexico is gradually becoming an attractive market area for the whole world, including Vietnam. Mexico has relations with many important economic regions in the world and is considered a hub for expanding to dynamic economic regions such as the G20 (group of major economies) or the Pacific Alliance.
Pangasius is among the seafood products that enjoy incentives under the CPTPP Agreement. According to statistics from Vietnam Customs, in the first half of July 2024, pangasius exports to Mexico reached more than 4 million USD, an increase of 90% over the same period in 2023. As of July 15, 2024, cumulative pangasius exports to this market reached 39 million USD, an increase of 14% over the same period last year. As of mid-July 2024, Mexico continued to be the leading market in the CPTPP bloc, and was the third single market after China and the US in consuming the most pangasius from Vietnam.
Can Tho City farmers take care of tra fish. Photo: KN
After continuously decreasing imports in February, March, and April 2024, pangasius exports grew positively again in May and June 2024. In particular, June 2024 is the month when this market consumes the most Vietnamese pangasius with an import value of more than 8 million USD, an increase of 50% compared to June 2023.
Vietnam mainly exports frozen pangasius fillets and frozen pangasius cuts to Mexico. In the second quarter of 2024, frozen pangasius fillet exports to this market reached more than 18 million USD, up 19%, and in the first 6 months of the year reached more than 31 million USD, up 6% over the same period last year.
In the second quarter of 2024, Mexico imported almost no value-added processed pangasius products from Vietnam. In the first half of this year, this market consumed nearly 300,000 USD of value-added pangasius, an increase of 262% over the same period, accounting for 1% of the proportion, and mainly due to imports from the first quarter of the year.
Despite the growth, the average export price of Vietnamese pangasius to Mexico in the first half of this year remained below $2.5/kg. However, this is not the lowest price in the past 3 years.
According to VASEP experts, despite the geographical distance, Vietnamese pangasius is still favored by consumers in Mexico. Vietnamese pangasius has many similarities in terms of firmness and taste compared to other white-fleshed fish such as cod, sardines, haddock and pollock. In addition, with the advantage of much lower production costs compared to other white-fleshed fish, Vietnamese pangasius has quickly become a highly competitive alternative product not only for Asian tastes but also in many countries around the world.
Source: https://danviet.vn/mot-loai-ca-viet-nam-bat-ngo-duoc-ua-chuong-o-quoc-gia-cach-nua-vong-trai-dat-20240825173524721.htm
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