Will Brazil be a promising market for Vietnam’s value-added pangasius products?

Published 2024년 10월 31일

Tridge summary

As of September 15, 2024, Vietnam's pangasius exports to Brazil have increased by 26% year-on-year, totaling over $81 million, despite a 10% decline in August. Brazil is the third largest market for Vietnamese pangasius, mainly importing frozen fillets, with imports under HS code 030462 rising by 54% in the first eight months of 2024. While demand for processed seafood is growing in Brazil, especially in São Paulo, the market currently imports few value-added pangasius products from Vietnam, suggesting potential for future growth.

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

Original content

According to Vietnam Customs, Vietnam's pangasius exports to Brazil recorded a 26% year-on-year growth as of September 15, 2024, reaching over $81 million. In just the first half of September, pangasius export value to this market reached nearly $5 million, a 3% increase compared to the same period in 2023. Brazil is the third largest destination for Vietnamese pangasius, following China and the US. Vietnam's pangasius exports to Brazil have shown steady growth since the beginning of the year, except for a 10% decline in August 2024, reaching only $12 million. This marked the second month of declining pangasius exports to Brazil, with the previous decrease occurring in February 2024, when exports fell by 6% to USD 6 million due to the Lunar New Year holiday. The South American nation primarily consumes frozen pangasius fillets from Vietnam. The market imports few other frozen products (whole fish, portion, maw, etc.) and almost no value-added pangasius products from Vietnam as of ...

Source: Vasep