A fish species of Vietnam holds a unique position in United States and is expensive in China

Published 2022년 11월 9일

Tridge summary

Pangasius exports from Vietnam have seen a significant increase in the first October 2022, reaching over $2.2 billion with October exports alone being $218 million, a 60% increase from the previous year. This growth is due to high demand and increased prices, with inflation and the Russia-Ukraine conflict being key factors. The US and China are the primary markets for these exports, with the US importing 104,500 tons worth $445.2 million, a 24% increase in volume and 91% in value year-over-year. Meanwhile, China's imports of pangasius have surged by 110% due to a decrease in domestic seafood production. As of September 2022, more than 400 enterprises in Vietnam are involved in pangasius exports, with most experiencing growth in sales. It is anticipated that pangasius exports will surpass $2.5 billion in 2022, marking a 58% increase from the previous year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics of the General Department of Customs, the export of pangasius by the end of October 2022 has reached over $2.2 billion. In particular, in October 2022 alone, pangasius exports were estimated at US$218 million, up 60% over the same period in 2021. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in 2022, inflation and the Russia-Ukraine conflict have helped pangasius, this moderately priced white fish species, sharply increase export sales. markets. Most of the markets have increased from 40 to 200% of Vietnam's pangasius imports. The two markets that dominate Vietnam's pangasius export trend are China accounting for 30%, the US accounting for 23%. After a hot increase in the first half of the year, increased inventories and congestion at import ports reduced US demand. According to statistics of the US Department of Agriculture, in the first nine months of this year, the country imported 104,500 tons of frozen pangasius ...

Source: Danviet