Value-added pangasius exports to the US hit 10-year peak

(PLVN) - 2024 marks a breakthrough for the Vietnamese pangasius industry when exports of value-added (VAT) products to the US reached their highest level in a decade. With a turnover of more than 12 million USD in the first 11 months of the year, 21 times higher than the same period last year, VAT pangasius is gradually asserting its position in the international market.

13/01/2025 13:36

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(PLVN) - 2024 marks a breakthrough for the Vietnamese pangasius industry when exports of value-added (VAT) products to the US reached their highest level in a decade. With a turnover of more than 12 million USD in the first 11 months of the year, 21 times higher than the same period last year, VAT pangasius is gradually asserting its position in the international market.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), 2024 marks a strong shift in value-added pangasius (VAT) exports to the US market. This is one of the largest consumer markets for Vietnamese pangasius, which previously imported mainly frozen pangasius fillets. However, in recent years, consumption trends have changed as US consumers prefer VAT products, creating great opportunities for the Vietnamese seafood industry.

According to statistics, in November 2024, the export value of VAT pangasius to the US reached more than 2 million USD, a sharp increase of 4,270% (equivalent to a 42-fold increase) compared to the same period last year. In the first 11 months of the year, the total export turnover reached more than 12 million USD, an increase of 2,182% (21-fold increase) compared to the same period last year. This result is recorded as the highest export value of VAT pangasius in the past 10 years, since 2015.

In the first 11 months of 2024, the value-added pangasius segment in the US market mainly imported breaded products with HS code 16041990 from Vietnam. Products such as frozen breaded pangasius fingers (size 25g), fried breaded pangasius, frozen breaded pangasius slices and frozen breaded pangasius nuggets dominated, contributing up to 99.9% of the total export value of value-added pangasius to the US, reaching a turnover of 12.4 million USD.

Among the enterprises participating in exporting HS product code 16041990, Van Duc Tien Giang Company leads with a proportion of 74%, followed by Bien Dong with 13%, NTFS Seafood with 12%, Vinh Hoan with 2%, and SKYEX with a very small part, only 0.0002%.

In addition, Vietnam also exports other value-added products to the US such as HS code 16042099 (frozen pangasius skewers, crispy fried pangasius skin snacks), HS code 16042030 (frozen boiled pangasius balls, frozen pangasius patties), and HS code 16042091 (frozen breaded and fried pangasius pieces). Although accounting for a smaller proportion, these products have contributed to enriching the product portfolio and increasing the presence of Vietnamese value-added pangasius in the US market.

In addition to the main product of frozen pangasius fillets, VAT pangasius is becoming a potential product that needs to be promoted and exported to many international markets. Focusing on developing this segment not only helps diversify products but also contributes to shaping the Vietnamese pangasius brand in the international market, creating a clear impression of quality and value.

With impressive results in 2024, 2025 is expected to continue to be a strong growth milestone for VAT pangasius.

Source: https://baophapluat.vn/xuat-khau-ca-tra-gia-tri-gia-tang-sang-my-dat-dinh-trong-10-nam-post537582.html