A Vietnamese fish species is increasingly popular in the US and China, with purchasing power increasing fourfold

Quinoa

Seafood

China

Market & Price Trends

Published Mar 5, 2024

Tridge summary

Vietnam's pangasius exports in January 2024 saw a significant increase, reaching 165 million USD, nearly double the amount from the same period in 2023. The primary markets were the US, China, Hong Kong, EU, and CPTPP, with frozen fillets making up 80% of the exports. China and Hong Kong were the largest importers, with a fourfold increase in imports compared to January 2023. Despite this positive growth, potential challenges lie ahead due to world fluctuations and increased shipping costs resulting from tensions in the Red Sea.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to statistics from the General Department of Customs, in January 2024, Vietnam's pangasius exports reached 165 million USD, nearly doubling over the same period last year. In particular, the main markets consuming the most pangasius all recorded positive growth such as the US, China and Hong Kong, EU, CPTPP,... The main pangasius product exported in January 2024 is still frozen fillets, with a value of more than 131 million USD, an increase of 87% over the same period in 2023, accounting for 80% of the proportion. VASEP experts said that in terms of consumption markets, in the first month of 2024, China and Hong Kong will continue to be the largest import markets for pangasius from Vietnam. Pangasius export turnover to this market in January 2024 reached 52 million USD, an increase of nearly 4 times compared to January 2023 and an increase of 65% compared to January 2022. The value of pangasius exports to China and Hong Kong in the first month of 2024 accounts for 32% of ...

Source: Danviet