MEKSEA.COM – According to data from Vietnam Customs, pangasius exports in September 2024 reached USD 172 million, up 3% compared to September 2023. Accumulated pangasius export value through the end of Q3 2024 totaled USD 1.5 billion, an 8% increase compared to the same period last year.

Exports to the U.S. continued to show positive results at the end of Q3 2024, with a value of over USD 30 million, marking a 32% increase compared to September 2023. For the first nine months of this year, pangasius exports to the U.S. totaled USD 256 million, up 24% year-on-year. The U.S. remains the second-largest market for Vietnamese pangasius after China. According to the International Trade Centre (ITC), Vietnam continued to be the largest supplier of pangasius products to the U.S. during the first nine months of this year.

The current low inventory levels of processed pangasius in the U.S., compared to the same period in 2023 and 2022, are expected to drive retailers to replenish stocks ahead of the year-end holiday season. Additionally, decreasing inflation in the U.S. is another factor supporting increased consumer demand.

In September 2024, Thailand emerged as the third-largest single importer of Vietnamese pangasius. Exports to Thailand in the final month of Q3 2024 reached USD 5.8 million, a 21% decrease compared to the same period last year. However, total exports to Thailand for the first nine months of 2024 amounted to USD 46 million, reflecting a 6% year-on-year growth.

Pangasius exports to the EU experienced a slight decline of 1% in the first nine months of the year, with a total value of USD 128 million. Specifically, September 2024 saw exports to the EU reach USD 14 million, a 2% decrease compared to September 2023. The Netherlands remained the largest EU market for Vietnamese pangasius, with exports to the country totaling USD 36 million in the first nine months of this year, up 2% from the same period last year.

In terms of products, frozen pangasius fillets remained the primary export item, generating USD 1.2 billion in revenue, a 5% increase year-on-year. Meanwhile, exports of processed pangasius products continued to surge, with a 45% increase, reaching USD 32 million. Exports of dried pangasius and other frozen products (whole fish, cut pieces, etc.) reached USD 273 million, up 23% compared to the same period last year.

Vietnam’s pangasius exports in the first nine months of 2024 achieved encouraging results, with markets maintaining growth momentum. As trade and service activities pick up towards the year-end holiday season, the final three months are expected to be the peak period for pangasius exports. Businesses are encouraged to seize this opportunity by strengthening marketing efforts and actively promoting value-added pangasius products to capture market opportunities, especially with key border markets like China.

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By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: VASEP)

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