Vietnamese Pangasius Export Market Faces Slowdown in Dec-23, Prompts Shift to Value-Added Products for the Chinese Market
Frozen Catfish Fillet
China
Vietnam
Market & Price Trends
Catie Bui
Published Dec 15, 2023
The Pangasius export market is experiencing a slowdown in Dec-23 despite the raw material prices remaining at a low level. This situation is influenced by decreased purchasing power and a limited supply due to losses, leading farmers to scale down fish farming. As a result, export prices at the end of 2023 are relatively low compared to the beginning of 2023. Vietnamese exporters hope prices may increase if demand is resurgent and the market has improved purchasing power.
Vietnamese Pangasius export companies are exploring new strategies to adapt to the changing market dynamics. One such process involves the development of more value-added products, such as breaded and seasoned fish, explicitly targeting the Chinese market. This initiative aims to capitalize on the growing retail and supermarket sales trend in China, especially in the aftermath of the pandemic.
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