Pangasius exports grow positively
Vietnam Association of Seafood Exporters and Producers (VASEP) said that Vietnam's pangasius exports in the first 11 months of 2024 recorded positive results, with a total turnover of 1.8 billion USD, up 10% over the same period last year. In November alone, pangasius exports reached 179 million USD, up 16% over November 2023.
China continues to be the largest market for Vietnamese pangasius. Export turnover to this market in November 2024 reached 50 million USD, a sharp increase of 27% over the same period last year. In the first 11 months of the year, the cumulative export value of pangasius to China and Hong Kong (China) reached more than 500 million USD, an increase of 1% over the same period in 2023.
The US ranked second, with pangasius exports in November reaching over 26 million USD, up 14% year-on-year. In the first 11 months, the total export value of pangasius to the US reached over 317 million USD, up 26% year-on-year. This reflects stable and sustainable demand from the world's largest seafood consumer market.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) continues to be a potential area with pangasius export value in November reaching nearly 24 million USD, up 5% over the same period. In the first 11 months of the year, the export value reached 248 million USD, up 10%. Of which, Mexico is the largest importer in the bloc with a total value of 69 million USD, up 5% although the export value in November decreased by 25%.
In the EU, pangasius exports in November 2024 reached nearly 17 million USD, a sharp increase of 43% over the same period last year. In the first 11 months, the total export turnover to the EU reached nearly 161 million USD, an increase of 3%. The Netherlands is still the largest import market in the bloc, with a value of more than 43 million USD in 11 months, an increase of 7% over the same period last year.
In addition to major markets, pangasius exports to other countries also achieved impressive growth in November. Thailand increased by 29%, the UK increased by 20%, and Colombia increased by 2%, reflecting the successful expansion of the pangasius industry into a variety of markets.
Bright prospects
VASEP forecasts that Vietnam’s pangasius exports are approaching the target of 2 billion USD as forecasted at the beginning of the year, showing that the market’s appeal, competitiveness and potential are still strong. However, pangasius production and export activities still face many challenges, especially strong competition with other white-flesh fish species. Vietnamese enterprises are forced to make calculations for a new, more diverse and proactive direction to maintain and develop the market share of the Vietnamese pangasius industry in the international market.
To maintain and expand market share, businesses need to proactively innovate and diversify their business strategies and products to enhance their competitiveness in the international market. Taking advantage of incentives from free trade agreements is also an important factor to promote pangasius exports in the coming time.
Expanding export markets to other countries is also encouraged. In November 2024, pangasius exports to Thailand increased by 29%, the UK increased by 20%, and Colombia increased by 2%, showing the potential for growth in these markets.
With continuous efforts, the Vietnamese pangasius industry is expected to achieve significant achievements in the coming time, contributing to increasing export value and sustainable development for the national economy.
