China and CPTPP maintain growth momentum in Vietnamese pangasius imports

Published 2024년 6월 25일

Tridge summary

In May 2024, Vietnam's pangasius exports experienced mixed results, with a slight decrease of 0.1% in the first five months reaching nearly 603 million USD, primarily dominated by frozen pangasius fillets. Despite a decline in exports to China and Hong Kong by 13% and 16% respectively, growth in the US market by 12% and in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market by 17% compensated. The EU market, however, saw a decrease of 9% in the first five months. The article also highlights opportunities for Vietnamese pangasius following the US and EU's tightened seafood imports from Russia and expects a potential improvement in China's demand due to economic support policies. The positive outlook for the pangasius export market is further bolstered by the International Monetary Fund's increased growth forecast for the US and EU for the current year.

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

Original content

Frozen pangasius fillets are still the main product for Vietnam's pangasius exports. In May 2024, exports of this product reached 134 million USD, up 2% over the same period last year. By the end of May, Vietnam had exported nearly 603 million USD of frozen pangasius fillets to markets, down slightly by 0.1% over the same period last year. Regarding consumption markets, China and Hong Kong are still consuming the most Vietnamese pangasius. Cumulative pangasius exports to this market in the first 5 months of this year reached nearly 203 million USD, down 13% over the same period. In particular, in May 2024 alone, pangasius export turnover to China reached nearly 48 million USD, an increase of 1%; exports to Hong Kong reached more than 2.3 million USD, down 16% compared to the same period in 2023. May 2024 was recorded as the month with the second-highest value of Vietnamese pangasius exports to China and Hong Kong since the beginning of the year with a value of nearly 50 million ...

Source: Vasep