Vietnam: Pangasius exports show signs of recovery

Published May 27, 2024

Tridge summary

Vietnamese pangasius exports have seen a 2% increase in the first five months of the year, reaching 725 million USD, with the US being the largest market. The demand for processed pangasius in the US has surged, while imported frozen pangasius has decreased due to reduced consumer demand. The European market also shows positive growth, with Germany becoming the largest European destination for Vietnamese pangasius exports. The Vietnam-Europe Free Trade Agreement (EVFTA) is expected to further boost exports to Europe. The pangasius industry predicts a 10% increase in export price in the third quarter due to rising fuel and logistics costs.

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

Original content

After the first months of the year, pangasius exports declined, up to this point, pangasius exports have shown signs of recovery, with markets increasing imports, causing pangasius export turnover to skyrocket. . Statistics from Vietnam Customs show that pangasius export turnover in the first 5 months of this year is estimated at 725 million USD, up 2% over the same period last year. According to the Vietnam Association of Seafood Exporters and Producers (Vasep), the largest import market for Vietnamese pangasius currently is the US, followed by China, Europe and some other South American markets. Among Vietnamese pangasius products, the US is currently increasing imports of processed pangasius, with value added 8.5 times over the same period last year. Meanwhile, frozen pangasius entering the US market decreased due to reduced consumer demand. Frozen pangasius fillets are still the main product of pangasius exports to the US. By the end of May, exports of frozen pangasius fillets ...

Source: Vietstock