China is expected to increase Vietnamese pangasius consumption in 2024

Published 2024년 2월 5일

Tridge summary

Despite a decrease in market share in some large markets, pangasius exports to smaller markets such as Mexico, Canada, Brazil, and the UK are showing growth. Vietnam's pangasius farming area reached nearly 5,700 hectares in 2023, producing 1.6 million tons, with a target of 1.7 million tons and export revenue of 2 billion USD in 2024. Other countries like Indonesia, India, Bangladesh, and China are also increasing their pangasius farming. Vietnamese enterprises are advised to change strategies and improve markets to boost exports. The demand for Vietnamese pangasius, particularly processed products, is expected to rise in 2024, with China predicted to be a high-growth region for pangasius consumption after lifting COVID-19 restrictions on imported goods.

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

Original content

Although the market share of pangasius decreased in some large markets, pangasius exports to smaller markets such as Mexico, Canada, Brazil, and the UK all showed positive signs. According to data from the Ministry of Agriculture and Rural Development of Vietnam, the total pangasius farming area in 2023 reached nearly 5,700 hectares, and the output reached 1.6 million tons. In 2024, pangasius production is planned to reach 1.7 million tons with export revenue of 2 billion USD. In 2023 also a significant increase in pangasius farming production in other countries. The production of pangasius farming in Indonesia is about 600 thousand tons, in India it is 668 thousand tons, in Bangladesh it is 500 thousand tons, and in China, it is 400 thousand tons, and the production in these countries will continue to increase soon. Vietnam's annual pangasius productivity and production are still high, but they have to compete with many countries. Therefore, to promote exports, enterprises need ...

Source: Vasep