According to the General Department of Customs, pangasius exports to the United States in April 2024 earned nearly 38 million USD, an increase of 34% compared to April 2024. By the end of April, this market consumed 102 million USD of pangasius, an increase of 19% over the same period last year.
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| Classification of pangasius fillet products at Navico Company's factory |
Notably, since the beginning of this year, the United States has continuously increased its imports of value-added pangasius products from Vietnam. In the first month of this year, Vietnam exported nearly 295 thousand USD of value-added pangasius to the United States, an 18-fold increase over the same period; in February 2024, this value reached more than 114 thousand USD, an increase of 2,200 times, and in March 2024, it increased by 76% with 150 thousand USD.
In April 2024, exports of value-added pangasius products to the United States reached more than 300 thousand USD compared to only 5 USD of export value of these products in April 2023 (an increase of 67 thousand times). By the end of April 2024, the United States increased its imports of value-added products from Vietnam by 8.5 times with 860 thousand USD.
In contrast to the sharp increase in demand for value-added pangasius, frozen pangasius imports in the United States in April 2024 saw a negative growth of 72% with a value of 165 thousand USD. Total frozen pangasius exports from Vietnam to the United States in the first 4 months of this year reached nearly 1 million USD, down 28% compared to the same period last year.
Frozen pangasius fillets are still the main product of pangasius exports to the United States. In April 2024, the export turnover of frozen fillet products to the United States reached more than 37 million USD, an increase of 35% compared to April 2023. This is the highest value that the United States imported since the beginning of this year for pangasius products under code 0304 (except fish cakes and surimi products). By the end of April 2024, frozen pangasius fillet exports to the United States reached more than 100 million USD, an increase of 19% compared to the same period in 2023, accounting for 98% of the total export value of pangasius to the United States.
Consumers in the United States are increasing their demand for white fish products, especially pangasius from Vietnam. Pangasius exports to the US in April and in the first 4 months of this year showed many positive signs after continuously declining in 2023. Recently, many Vietnamese enterprises participated and introduced Vietnamese pangasius products at the North American Seafood Expo. With the advantage of delicious white fish, suitable for processing a variety of dishes from packaged fillets, frozen products to ready-to-eat products such as fish sticks or fish burgers, it has attracted importers from this market.
In addition, the fact that whitefish supplies to the US are decreasing amid the scarcity of other whitefish products such as tilapia is also a positive signal for Vietnam's pangasius exports to the US market.
The news that the United States is considering recognizing Vietnam as a market economy has brought optimism to many Vietnamese economic sectors, including the seafood industry. It is expected that in July 2024, the US Department of Commerce (DOC) will decide whether Vietnam can change its status from a non-market economy to a market economy. If Vietnam is recognized as a market economy, this will be an advantage for Vietnamese enterprises in the upcoming administrative reviews of anti-dumping taxes on shrimp and pangasius.
Source: https://congthuong.vn/nhap-khau-ca-tra-gia-tri-gia-tang-cua-hoa-ky-tu-viet-nam-tang-85-lan-322029.html
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