MEKSEA.COM – In 2023, global pangasius production reached 3.1 million tons, an increase of nearly 9% compared to 2022. Vietnam is the largest producer and exporter of pangasius in the world, accounting for 52% of production and 90% of the world’s pangasius trade.

In 2023, about 563,000 tons of frozen pangasius were traded internationally, a 25% decrease from 2022. Frozen pangasius fillets accounted for 84% of total imports, despite a 29% decline compared to 2022; whole frozen pangasius made up 15% of the trade, an increase of 3% compared to 2022.

The volume of imported whole frozen pangasius in 2023 increased by 9% in China, 10% in Colombia, 82% in Uzbekistan; 54% in Qatar, and 5% in South Korea compared to 2022. Meanwhile, frozen pangasius fillet imports rose in Brazil by 15%, the Philippines by 10%, Singapore by 10%, the UK by 10%, and Germany by 45%. China remains the largest market for both whole and frozen fillets, accounting for 29% of total frozen pangasius imports, followed by the U.S. at 15% and Brazil at 6%.

In 2023, total frozen pangasius imports into China increased to nearly 163,000 tons, down 35% compared to 2022.

The U.S. imported nearly 92,000 tons of frozen pangasius, of which Vietnam accounted for 91%, with the remaining 9% coming from Thailand and China.

Europe imported nearly 66,000 tons of frozen pangasius, including 91% frozen fillets and 9% whole frozen pangasius. Of these, about 85% of imported pangasius originated from Vietnam.

The UK was the largest importer of frozen pangasius in Europe in 2023, with stable and growing import volumes. In 2023, nearly 16,000 tons of frozen pangasius were imported from Vietnam into the UK, an increase of 9% compared to 2022. The average import price decreased by 6.06% to USD 3.88/kg in 2023.

In Asia, China leads in pangasius consumption, accounting for 56% of imports, followed by Thailand at 11%, the Philippines at 10%, and Singapore at 6%. The consumption of pangasius fillets in this region has increased significantly over nearly a decade. This species is commonly sold under the name “dory” in most Southeast Asian countries. In Malaysia, locals call it “ikan patin” and commonly consume it as whole fish, steamed or cooked with fermented durian in a spicy broth. Notably, a total of 2,952 tons of frozen pangasius were imported into Uzbekistan in 2023, an increase of 76% compared to 2022.

In 2023, Latin America imported nearly 90,000 tons of frozen pangasius, with Brazil, Mexico, and Colombia accounting for 58%. Brazil, Honduras, and Argentina were among the countries in the region that saw positive growth in 2023. With strong domestic demand, Brazil remains the largest importer of pangasius in Latin America and is also Vietnam’s third-largest market for frozen pangasius consumption.

Vietnam is the largest producer and exporter of pangasius globally, with its products favored in many international markets due to their delicious taste and competitive pricing. As of the end of July 2024, pangasius exports have passed the halfway mark for the year. The export situation in the first seven months of this year is considered quite promising, with export revenue to some major markets recording continuous positive growth. However, pangasius exports are also facing many objective challenges, such as political conflicts, trade tensions, the Russia-Ukraine conflict, anti-dumping duties from the U.S.; climate change, diseases, rising transportation costs, and barriers in applying science, technology, and digitalization.

The global economic downturn has made consumers more budget-conscious. Pangasius holds an advantage due to its affordable price. Farmers and processors in Vietnam are hoping for higher demand in the second half of 2024. Exports in the second half of the year are estimated to reach over USD 1 billion, and the cumulative total for 2024 is expected to reach USD 2 billion, an increase of nearly 9%.

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By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: VASEP)

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