Vietnamese businesses boost pangasius exports to Singapore

Published 2024년 10월 29일

Tridge summary

Pangasius exports to Singapore in the first nine months of 2024 saw an uneven product structure with a decline in frozen pangasius fillets by 5% and growth in value-added products in certain months. However, overall exports under HS code 16 decreased by 11% compared to the same period last year, with fluctuating rates of decline in different months. This shift is attributed to the decline in Singapore's food and beverage retail and services sectors in the first and second quarters of 2024, potentially due to increased spending on overseas travel. Despite these challenges, Singapore remains a lucrative market for pangasius exports due to low technical barriers, high purchase prices, and a diverse population that enjoys seafood.

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

Original content

The product structure of pangasius exports to Singapore in the first nine months of this year was uneven. Frozen pangasius fillets remained the primary export product, accounting for over $21 million during this period, a decline of 5% compared to the same timeframe last year. Notably, exports only recorded growth in January, April, May, and July 2024, while the remaining months experienced declines of 1-2 digits. It is worth mentioning that in January, exports of value-added pangasius products saw an 11-fold increase compared to the same period in 2023; however, this value fluctuated continuously in the following months of 2024. By September 2024, exports of products under HS code 16 had decreased by 11% compared to the same period last year, reaching $145 million. In June, July, and August 2024, exports of this product to Singapore also decreased by 15%, 75%, and 53%, respectively, compared to the same period in the previous year. Overall, pangasius exports to Singapore in the ...

Source: Vasep