In September 2024, pangasius exports to China decreased by 16% compared to the same period in 2023. This is also the third month since the beginning of this year to witness this decline.
According to the General Department of Customs, pangasius exports in September 2024 reached 172 million USD, an increase of 3% compared to September 2023. Cumulative pangasius exports by the end of the third quarter of 2024 reached 1.5 billion USD, an increase of 8% over the same period last year.
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| Pangasius exports to China market decreased for the third month since the beginning of the year |
Regarding the consumption market, after 5 consecutive months of positive growth, in September 2024, pangasius exports to the Chinese market witnessed a 16% decrease compared to the same period in 2023, with an export value of 48 million USD. This is also the third month since the beginning of this year that this market has reduced imports of Vietnamese pangasius. By the end of September this year, pangasius exports to this market reached 418 million USD, down 4% compared to the same period last year.
Pangasius exports to the US market still recorded positive results in the last month of the third quarter of 2024, with a value of more than 30 million USD, up 32% compared to September 2023. In the first 9 months of this year, pangasius exports to this market reached 256 million USD, up 24% over the same period last year. The US continues to be the second largest consumer of pangasius from Vietnam, after China. According to the International Trade Center (ITC), Vietnam is still the largest supplier of pangasius products to the US in the first 9 months of this year.
Finished pangasius inventories in the US market are currently lower than the same period in 2023 as well as 2022, which will encourage retailers to replenish inventories for the year-end holiday season. In addition, the inflation data in the US is a factor that boosts consumption demand.
In September 2024, Thailand became the third largest single importer of Vietnamese pangasius. Pangasius exports to the "Land of the Golden Pagoda" in the last month of the third quarter of 2024 reached 5.8 million USD, down 21% over the same period last year. By the end of September 2024, pangasius exports to this market reached 46 million USD, up 6% over the same period in 2023.
Pangasius exports to the EU saw a slight decrease of 1% in the first 9 months of this year with a value of 128 million USD. In September 2024 alone, pangasius exports to this market reached 14 million USD, down 2% compared to September 2023. The Netherlands is still the leading market in the EU for Vietnamese pangasius consumption. Pangasius exports to the Netherlands in the first 9 months of this year reached 36 million USD, up 2% over the same period last year.
Regarding export products, frozen pangasius fillets are still the main product of Vietnam's pangasius exports. The export value of this product to markets in the first 9 months of this year increased by 5% to reach 1.2 billion USD. By the end of September 2024, processed pangasius exports continued to grow by 45% to reach 32 million USD. Exports of dried pangasius and other frozen products (whole, cut, etc.) reached 273 million USD, up 23% over the same period last year.
The Vietnam Association of Seafood Exporters and Producers said that pangasius exports ended the first 9 months of the year with quite positive results, as markets maintained growth momentum. In the last 3 months of the year, trade and service activities began to bustle to stockpile goods in preparation for festivals, which will be the peak season for pangasius exports to reach the target in 2024. Enterprises need to take advantage of the time, promote communication, and actively promote other pangasius products such as value-added pangasius to proactively seize opportunities from the market, especially for customers near the border like China.
Source: https://congthuong.vn/xuat-khau-ca-tra-sang-thi-truong-trung-quoc-giam-thang-thu-3-ke-tu-dau-nam-2024-354678.html
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