Vietnam: Pangasius exports are expected to reach 1.8 billion USD in 2024

Published Jul 29, 2024

Tridge summary

In June 2024, Vietnam's pangasius export turnover reached nearly 172 million USD, marking a 20% year-on-year increase, with frozen fillets as the primary product. The first half of 2024 saw total pangasius exports of 918 million USD, a 5% rise, with China, Hong Kong, and the US as major importers. VASEP forecasts higher demand and prices for pangasius in the latter half of 2024, aiming for 1.8 billion USD in total exports. Shrimp exports to China and Hong Kong also grew but face competitive price pressures, while exports to the US and EU are expected to improve. Despite challenges from competitors and disease issues in farmed shrimp, VASEP remains optimistic about achieving industry goals by year-end, anticipating better market conditions and higher prices.

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

Original content

Frozen pangasius fillets are still the main export product to markets. Illustration. Citing data from the General Department of Customs, the Vietnam Association of Seafood Exporters and Producers (VASEP) said that in June 2024, pangasius export turnover reached nearly 172 million USD, up 20% over the same period last year. last. In the first 6 months of 2024, pangasius exports reached 918 million USD, up 5% over the same period. Regarding product structure, frozen pangasius fillets (HS code 0304) is still the main export product to markets. By the end of June 2024, exports of this product reached 739 million USD, up 3% over the same period, accounting for 80% of the proportion. In addition, exports of dried pangasius and other frozen products (whole fish, cut pieces, pangasius bladder,... under HS code 03 except HS code 0304) in the first half of this year reached 162 million USD, an increase 17% over the same period, accounting for 18% proportion. Regarding consumption markets, ...

Source: VNRuralEconomics