The average export price of Vietnam's pangasius to the US increased

Published 2024년 5월 9일

Tridge summary

In March 2024, Vietnam's pangasius fish exports to China and Hong Kong saw a significant decrease of 44% year-over-year, yet experienced a 56% increase from the previous month, totaling over 36 million USD. Despite this rebound, the first quarter of 2024 still ended with a 22% decrease in exports to these regions compared to the same period in 2023, amounting to nearly 112 million USD. Conversely, the US market displayed a positive trend, with March exports nearly doubling from February and hitting the highest value since June 2023. The CPTPP market showed an 8% increase in exports for the first quarter of 2024, amidst global concerns over inflation and supply security, highlighting the demand for stable and reasonably priced products like Vietnamese pangasius.

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

Original content

Regarding the consumer market, in March 2024, China and Hong Kong bought more than 36 million USD from Vietnam, down 44% compared to March 2023 and up 56% compared to the previous month. In the first quarter of 2024, Vietnam exported nearly 112 million USD of pangasius to this market, down 22% compared to the same period last year. This decrease was mainly because, in February 2024, both Vietnam and China had the Lunar New Year holiday. China and Hong Kong continue to be the largest import markets for Vietnamese pangasius, accounting for 27% of the total value of Vietnam's exports to markets. Behind China and Hong Kong, the US imported nearly 31 million USD of pangasius in March 2024, a slight increase of 0.03% compared to March 2023 and nearly double compared to February 2024. This was also the month that recorded the highest pangasius export value to the US since June 2023. Cumulative exports of Vietnamese pangasius to the US in the first 3 months of this year reached nearly 65 ...

Source: Vasep