Vietnamese pangasius exports skyrocket

Published Oct 10, 2024

Tridge summary

Vietnamese pangasius exports have seen a significant increase, with a 9% rise to nearly US$1.3 billion in the first eight months of the year. The industry is on track to hit a target of US$2 billion for the year, driven by double-digit growth in key markets such as the US, Brazil, Thailand, and Colombia. Despite a slight decrease, China and Hong Kong continue to be the largest consumers of Vietnamese pangasius. Notably, pangasius exports to the US surged by 40% in August, and the US Department of Agriculture announced plans to purchase additional fish products, indicating a recovery in the US market and a potential boost for the Vietnamese pangasius industry.

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

Original content

Vietnamese pangasius exports skyrocket. With pangasius exports soaring by 9% to reach nearly US$1.3 billion during the initial eight months of the year, Vietnam is likely to achieve the set target of earning US$2 billion from the export of the fish this year, according to the General Department of Vietnam Customs. August alone witnessed Vietnamese pangasius exports rise 12% year on year to bring in US$191 million, reported the department. Many countries continued to record impressive growth. Pangasius exports to markets such as the United States, members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Brazil, Thailand, and Colombia all enjoyed double-digit growth. In particular, China and Hong Kong (China) maintained their position as the largest consumers of Vietnamese pangasius, with export value in August reaching more than US$57 million, up 9%. However, the eight-month export value to this market decreased slightly by 2% to US$370 million. ...

Source: Fish Focus