With a revenue of 12,500 billion, Vietnamese pangasius has a new strong competitor in China

Published 2024년 12월 19일

Tridge summary

Vietnam's pangasius exports experienced a 16% increase in November compared to the same period last year, reaching a value of 179 million USD with a cumulative total of 1.8 billion USD by the end of November 2024. China remains the largest market, followed by the US, as Vietnamese pangasius is preferred for its lower cost and high protein content. However, the market faces challenges due to strong competition from snakehead fish, as China's production of the latter is expected to reach 800,000 tons in 2024. This has led China to import less Vietnamese pangasius, prompting Vietnamese enterprises to diversify products, increase quality, reduce costs, and ensure food safety to maintain market share.

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

Original content

According to statistics from the General Department of Customs, the export turnover of pangasius in November reached 179 million USD, an increase of 16% over the same period last year. By the end of November 2024, the cumulative export value of pangasius reached 1.8 billion USD, an increase of 10% over the same period in 2023. The order of the leading markets in consuming Vietnam's "billion-dollar fish" has remained almost unchanged, with China continuing to be the largest customer. The total export value of Vietnamese pangasius to the Chinese market reached more than 500 million USD in the past 11 months (about 12,500 billion VND), a slight increase over the same period last year. Following China is the US. By the end of November this year, pangasius exports to this market increased by 26%, reaching more than 317 million USD. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnamese pangasius is on track to reach the target of 2 billion USD in ...

Source: Vietstock