Pangasius Export Prices Surged in Nov-24 Amid Raw Material Shortage and Strong Global Demand

Since Oct-24, pangasius export prices have reached their highest levels, with farm-gate prices rising to USD 1.19 per kilogram (kg) from USD 1/kg to 1.03/kg. This trend is forecasted to continue through Jan-25 due to a shortage of raw materials. Demand is high across regions, with smaller fish (120 to 220 grams) in high demand in Asia and Europe for year-end and Lunar New Year consumption. Meanwhile, the Middle East seeks larger sizes (300 g+) ahead of Ramadan, fueled by the Vietnam-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA) agreement. In the United States (US), imports are increasing, and whole fish over 1kg remain scarce, while untrimmed fillet sizes (90 to 140 g) are fetching high prices due to better raw material availability.