Pangasius exports in Jan 2024 nearly doubled y-o-y

Vietnam’s pangasius exports in January 2024 reached 165 million USD, nearly doubling compared to the same period. Major markets all recorded positive growth such as the US, China & Hong Kong, EU, CPTPP,…

Pangasius frozen fillets remained as the main exported item in January 2024, with a value of over 131 million USD, up 87% from the same period in 2023, accounting for 80% of the total export value.

As for markets, in the first month of 2024, China & Hong Kong continued to be the largest destinations of Vietnamese pangasius, with the total worth of 52 million USD, nearly quadrupling compared to January 2023 and increasing by 65% compared to January 2022. Such a value accounted for 32% of the total pangasius exports to all markets. Notably, in the first month, exports of frozen/dried pangasius products (code 03) (excluding code 0304) to China increased by 6.5 times compared to the same period last year.

In January 2024, the US spent 18 million USD buying Vietnamese pangasius, up 83% compared to the same period last year. Also in this month, the US increased imports of almost all Vietnamese pangasius products. The export turnover of processed pangasius to the US increased 18 times compared to the same period last year, reaching 295 thousand USD. This market consumed over 17 million USD of frozen pangasius fillets in January 2024, up 81% compared to January 2023.

The EU purchased nearly 13 million USD worth of Vietnamese pangasius, up 20% compared to the same period last year. The Netherlands remained as the single market to consume Vietnamese pangasius, valued nearly 4 million USD, up 16% compared to the same period. In addition, some markets in the bloc also recorded positive growth in Vietnamese pangasius imports including Hungary with a fourfold increase, Spain, France, and Slovenia with approximately 2.5 times increase,…

The export turnover of pangasius in the first month of 2024 is evaluated as quite positive after consecutive declines in 2023. The US and China are expected to be promising markets for recovery in 2024 due to reduced inventory and continued increasing demand. The pangasius market in China is expected to be more vibrant thanks to real estate market support policies and stimulation of consumption by the Chinese government in the first half of 2024.


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