According to Vietnam Customs data in October 2023, pangasius exports to Brazil have increased by one and a half times compared to the same period last year for three consecutive months. The export value of pangasius in the first month of the fourth quarter of 2023 reached 12 million USD, a 51% y-o-y increase.
Until the end of October 2023, Brazil imported over 83 million USD worth of Vietnamese pangasius, up 5% from the same period last year and giving it a share of 5% of the total pangasius Vietnam sent to the world. Brazil has consistently increased its imports of Vietnamese pangasius since July 2023 after a 20% reduction the previous month.
The export turnover of pangasius to Brazil has reached its highest value in August 2023 since the beginning of the year, surpassing 13 million USD, a 53% y-o-y increase. Notably, Brazil almost exclusively imports frozen pangasius fillet from Vietnam, valued over 12 million USD in October 2023, representing a 51% y-o-y increase.
The average export price of pangasius to Brazil has been continuously declining since April 2023, dropping from 3.16 USD/kg in March to 2.81 USD/kg in September 2023. However, the demand for pangasius is on an upward trend in this country.
According to data from the International Trade Centre (ITC), in October 2023, Brazil imported over 3,400 tons of white fish (mainly pangasius) from Vietnam, nearly double compared to the same period last year, marking the most impressive increase in the first 10 months of this year.
Also, according to ITC, until the end of October 2023, Vietnam remained the largest supplier of white fish to Brazil, with an import volume of over 25,000 tons and a value of over 76 million USD. This significantly surpassed competitors such as Portugal (over 4,000 tons, valued at 57 million USD), Argentina (over 14,000 tons, valued at over 52 million USD), Norway (almost 3,000 tons, 34 million USD), China (almost 3,000 tons, valued at 12 million USD), and Ecuador (almost 300 tons, valued at 1 million USD).
VFM
