MEKSEA.COM – According to Vietnam Customs data, in October 2023, 3 consecutive times pangasius exports to Brazil increased by 1.5 times compared to last year, marking a continuous growth since August of this year. The export value of pangasius in the first month of the fourth quarter of 2023 reached 12 million USD, a 51% increase compared to the same period last year.

As of the end of October 2023, Brazil has imported over 83 million USD worth of pangasius from Vietnam, a 5% increase compared to the same period in 2022, constituting 5% of the total pangasius export share to various markets. Specifically, Brazil has consistently increased its pangasius imports from Vietnam since July 2023, following a 20% reduction in the previous month. The pangasius export turnover to Brazil in August this year reached its highest value since the beginning of the year, exceeding 13 million USD, a 53% increase compared to August 2022. Notably, Brazil primarily imports frozen pangasius fillets from Vietnam, with a value exceeding 12 million USD in October 2023, a 51% increase compared to the same period last year.

According to the International Trade Centre (ITC) data, in October 2023, Brazil imported over 3,400 tons of white fish meat (mainly pangasius) from Vietnam, nearly doubling compared to the same period last year, marking the most impressive increase in the first 10 months of this year. As per ITC, by the end of October 2023, Vietnam remains the largest supplier of white fish meat to Brazil, with an import volume exceeding 25,000 tons and a value of over 76 million USD.

Brazil is an emerging market with a growing middle class. In the future, Brazil is expected to increase its demand for pangasius imports from Vietnam due to rising domestic consumption. Brazil is a crucial retail market for Vietnam’s pangasius exports, especially in the face of numerous challenges in key export markets.

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By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: VASEP)

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