Brazil ramps up imports of Vietnamese pangasius in the first quarter of the year

Published May 16, 2024

Tridge summary

In early 2024, Vietnam's pangasius exports to Brazil experienced significant fluctuations, with an 83% increase in January, a slight dip in February, and a strong rebound in March. The first quarter saw nearly USD 28 million in exports, a 44% rise from the previous year, with almost 7,000 tons exported, marking a 79% increase. Despite a 12%-14% drop in average export prices, export volumes surged. Vietnam remains the largest supplier of white meat fish to Brazil, with key exporters including Hung Ca 2 Corporation, South Vina CO.,LTD, Hoang Long, Cafish, and Frozen Food Vietnam.

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

Original content

Vietnam's pangasius exports to Brazil surged to US$14 million in January 2024, marking an impressive 83% increase compared to January 2023. However, in February 2024, Brazil's pangasius consumption dipped slightly to nearly US$6 million, representing a 6% decline from the previous month. Nevertheless, March 2024 witnessed a strong rebound, with pangasius exports to Brazil reaching over US$8 million, indicating a 48% growth compared to the same period in 2023. The majority of the frozen fillets and segments imported by Brazil under the HS code 0304 are Vietnamese pangasius. During the first quarter of 2024, the amount of this item sent to Brazil was close to USD 28 million, which represented 99.6% of the entire import value and a 44% rise over the same period in 2023. Remarkably, Brazil bought more than USD 110,000 worth of frozen pangasius products from Vietnam in the first three months of this year compared to very little imports of the same product during the same period last ...

Source: Vasep