| 11 months 2023, pangasius export revenue is nearly 1.7 billion USD Favorable market, more opportunities for pangasius export |
According to newly released information from the Vietnam Association of Seafood Exporters and Producers (VASEP), Brazil is the third largest single market for Vietnamese pangasius. Vietnam has been a supplier of white fish (mainly pangasius) to Brazil for many years.
Accordingly, in November 2023, the export value of Vietnamese pangasius to Brazil reached nearly 14 million USD, an increase of 81% over the same period in 2022. November 2023 was the month when pangasius products were exported to this Latin American country with the highest value and the highest growth since February 2022. This is also the 5th consecutive month in 2023 that this market recorded positive growth in pangasius imports.
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| In the first 11 months of 2023, Brazil consumed more than 97 million USD of pangasius fish from Vietnam. |
VASEP assessed that in the first 11 months of 2023, Brazil consumed more than 97 million USD worth of pangasius fish from Vietnam, an increase of 11% over the same period in 2022. Unlike many other markets, this Latin American country only imports frozen pangasius fillet products from Vietnam.
According to the latest data, the average export price of Vietnamese pangasius to Brazil in October 2023, although slightly increased compared to the previous month, remained below 3 USD/kg, continuing to decrease by 16% compared to the same period in 2022.
According to experts, 2023 can be considered a difficult year for the entire pangasius industry when most export prices to markets decrease. Brazil is no exception, although prices have decreased, compared to the period from mid-2019 to early 2023, this is still an acceptable price.
On the contrary, the export volume of Vietnamese pangasius to this country has tended to increase continuously since June 2023.
Thanks to that, the export value still grew positively, despite the continuous decline in the average export FOB price. In October 2023, Vietnam exported nearly 3,000 tons of pangasius to Brazil. The demand for Vietnamese pangasius in Brazil remained stable and increased somewhat compared to other markets in the context of the general decline.
Citing data from the International Trade Center (ITC), VASEP said that Vietnam is still the leading supplier of white fish (mainly pangasius) to Brazil. However, Vietnamese pangasius is gradually having to compete not only with countries that are starting to farm this fish, but also with some other white fish such as hake (HS code 030474) or cod (HS code 030363).
Brazil is one of the important markets for Vietnamese pangasius. Export growth to this market in 2023 will be a driving force for Vietnamese export enterprises to seize market opportunities to boost exports of Vietnamese pangasius to this country with an increasingly large middle class.
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