Pangasius exports from Vietnam recover strongly, high demand comes from the billion-people market

In May 2024, Vietnam witnessed a significant surge in pangasius exports, with the volume reaching over 83,000 tons, a 46% increase year-on-year and an 8% increase month-on-month. This growth is primarily driven by the Chinese market, which experienced a 20% year-on-year increase, recording the highest pangasius imports since February the previous year. Other markets like ASEAN, Mexico, and the United Kingdom also showed notable increases. Despite the economic downturn, pangasius' affordability and high-quality fillet have made it popular in China. However, production costs and selling prices in some markets, such as ASEAN, have led to decreasing export prices, which could affect profitability. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in effect since January 2019, has played a crucial role in boosting Vietnamese pangasius exports to the bloc, with the first half of 2024 seeing a 23% increase in export turnover to the CPTPP market compared to the same period in 2023. Mexico emerged as the largest importer of Vietnamese pangasius, with a value of 31 million USD, marking a 7% increase year-on-year. This surge indicates a positive trend in pangasius exports, especially to the CPTPP market, with the total export value to this market reaching 12 million in the first half of June 2024, a 23% increase from the same period in 2023.