According to data from Vietnam Customs, in the first half of May 2024, Vietnam’s pangasius exports to China and Hong Kong reached $22 million, up 9% compared to the same period last year. As of May 15, 2024, cumulative exports of pangasius to this market reached nearly $175 million, a 14% decrease compared to the same period in 2023.
As of May 15, 2024, China remains the largest importer of Vietnamese pangasius. Reasonable prices and delicious taste make it favored to Chinese consumers. In retail stores in China, the price of pangasius is recorded to be cheaper than domestically produced freshwater fish such as carp. Pangasius has become a popular fish for home cooking as well as in public restaurant chains.
Importers are forced to focus on cheaper products due to the slowing Chinese economy, making consumers more cautious and hesitant in their spending. The lower price compared to some domestic fish species such as carp, tilapia, and snakehead fish makes pangasius more favored and gives it a stronger foothold in this country.
Prices of other whitefish in China have risen, especially tilapia, due to reduced production, leading consumers not only in this market but also in the US and some other countries to switch to other whitefish products.
Pangasius, being a white fish, is raised in the upper layers of water, making its meat clean and rich in nutrients. The pangasius fillets are nearly boneless and healthy, making them very suitable for children’s menus. Additionally, the fat of this fish is rich in omega-3, which is beneficial for health, so families who tend to cook at home highly prefer dishes made from this fish.
The top 4 enterprises exporting the most pangasius to China in the first four months of this year include: Truong Giang, Nam Viet, Dai Thanh, Vinh Hoan, and IDI Corp.
VFM
