Vietnam's pangasius exports accelerate to cover the market

Published 2024년 8월 31일

Tridge summary

Vietnam is the world's leading producer and exporter of pangasius, accounting for 52% of the global output and 90% of the global trade. In 2023, the country's pangasius production is projected to reach 1.71 million tons, with an export value of over 1.8 billion USD. Other countries like India and Indonesia are also increasing their pangasius production. However, global pangasius exports are experiencing a slowdown due to increased inventories, lower import prices, and high inflation. Despite these challenges, there is optimism for a market recovery due to the global economic downturn and the species being a more affordable white-fleshed fish. Additionally, Vietnam's pangasius exports to the US are expected to grow due to reduced inventories and increased demand.

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

Original content

Frozen pangasius fillets are still the main export product to markets. Vietnam is the world's largest producer and exporter of pangasius. According to data released by the Vietnam Association of Seafood Exporters and Producers (VASEP) at the workshop "Sustainable development of Vietnam's aquaculture industry", global pangasius output will reach 3.1 million tons in 2023, up nearly 9% compared to 2022. In 2024, output is expected to increase slightly by 3% to 3.2 million tons. Of which, Vietnam is the world's largest producer and exporter of pangasius, accounting for 52% of output and 90% of global pangasius trade. In 2023, the pangasius farming area will reach 5,700 hectares, equal to 98% compared to 2022, with output reaching 1.71 million tons, up 0.6% compared to 2022 (1.7 million tons). Export value reached over 1.8 billion USD. Other countries, such as India and Indonesia, are also promoting pangasius farming. India produced 668,000 tons in 2023, expected to increase by 5% in ...

Source: VNRuralEconomics