DNVN - With positive growth momentum in October and the first 10 months of this year, the pangasius industry is aiming to surpass the 2 billion USD mark this year, thanks to the recovery in major markets and high demand at the end of the year.
According to Vietnam Customs, the export turnover of pangasius in October 2024 reached nearly 202 million USD, an increase of 17% over the same period in 2023. In the first 10 months of this year, the cumulative export value of pangasius to markets reached 1.7 billion USD, an increase of 9% over the same period last year.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), China and Hong Kong continue to be the largest destinations for Vietnamese pangasius. In October 2024 alone, this market recorded a consumption of 61 million USD, up 9% over the same period last year. However, in the 10 months, the total export turnover of pangasius to China and Hong Kong decreased slightly by 2%, reaching 479 million USD.
In the first month of the fourth quarter of 2024, Vietnam's pangasius exports to the US reached more than 35 million USD, up 65% over the same period last year. In total, the value of pangasius exports to the US in 10 months reached 291 million USD, up 28%.
Pangasius export turnover in October 2024 reached nearly 202 million USD, up 17% over the same period in 2023.
Notably, the political situation in the US is also attracting the attention of Vietnamese businesses. President Donald Trump was re-elected for a second term and is expected to take office in early 2025. Import tax policies are likely to change, but with the comprehensive strategic partnership between Vietnam and the US, experts expect pangasius orders to continue to increase in the coming time.
In addition, the preliminary results of the 20th anti-dumping administrative review (POR 20) in the US also brought positive signals. All 8 participating Vietnamese enterprises received a tax rate of 0 USD/kg, a decrease compared to POR 19. This creates favorable conditions for the pangasius industry to penetrate deeper into the US market.
The market under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) holds the third position in consumption of Vietnamese pangasius. In the first 10 months of the year, export turnover to CPTPP countries reached 224 million USD, up 11% over the same period last year.
In Europe, pangasius exports were relatively stable with a slight increase of 0.04%, reaching nearly 144 million USD in the first 10 months of the year. Several countries in the EU recorded double-digit growth, including Lithuania, Ireland, Italy, Belgium, Spain, Poland and Portugal.
According to VASEP, with the current growth momentum, the Vietnamese pangasius industry expects export turnover to exceed the 2 billion USD mark this year. Year-end orders, especially for the Tet holiday season, are increasing sharply. In addition, concerns about new tax policies in the US are also prompting importers to increase early orders before policy adjustments are made.
The Vietnamese pangasius industry is facing many opportunities, but also many challenges. Making good use of free trade agreements and maintaining product quality will be key factors to continue conquering international markets.
Minh Thu
Source: https://doanhnghiepvn.vn/kinh-te/xuat-khau-ca-tra-tang-manh-ky-vong-vuot-moc-2-ty-usd/20241118094421429
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