MEKSEA.COM – Vietnamese value-added pangasius is increasingly gaining attention in international markets as consumers in these countries are increasingly favoring it. This is due to its versatility in being prepared into a wide variety of dishes, mixing with many ingredients.

In May 2024, the export of value-added pangasius products with HS code 16 reached over USD 2 million, a 3% decrease compared to May 2023. By the end of May 2024, the export value of these products reached over USD 13 million, a 22% increase compared to the same period in 2023.

The top five destinations for Vietnamese value-added pangasius in the first five months of this year include Singapore with USD 3 million, accounting for 23% of the share; Thailand with USD 2.6 million, accounting for 20% of the share; Japan with USD 1.4 million, accounting for 10% of the share; Australia with USD 1.1 million, accounting for 9% of the share, and the USA with USD 1 million, accounting for 8% of the share.

Among these, the most favored product is the breaded fried pangasius fillet/frozen pangasius fillet with HS code 16041990, accounting for 82% of the total export of value-added products to markets in the first five months of this year, with an export value reaching nearly USD 11 million, a 31% increase compared to the same period last year. The top five markets consuming the most of pangasius with HS code 16041990 include Singapore accounting for 25%, Thailand accounting for 24%, Japan accounting for 11%, the USA accounting for 9%, and Australia accounting for 8% of the share.

In addition, products like crispy fried pangasius skin snacks/frozen fried basa fish cakes with HS code 16042099 are also favored by consumers in these markets. The export value of this product reached nearly USD 400 thousand in May 2024 and nearly USD 2 million in the first five months of this year.

The export value of some other value-added pangasius products, such as frozen breaded pangasius chunks with HS code 16042091, and frozen vegetable basa fish balls with HS code 16042030, also recorded increases in the first five months of this year, reaching nearly USD 300 thousand, an increase of 52%, and USD 113 thousand, an increase of 33% compared to the same period last year, respectively.

At the end of April 2024, nearly 40 Vietnamese enterprises, including Pangasius exporters, introduced a range of processed products to foreign partners through the 2024 Global Seafood Exhibition in Spain. Ready-to-eat products attracted many visitors to taste them right at the booths. The processed products were very diverse, mixed with many ingredients, and highly appreciated by customers.

Alongside the main product of frozen pangasius fillets, Vietnamese value-added pangasius is increasingly affirming its position in the international market. Market fluctuations in recent years have shown that choosing a business strategy focused on value-added processed products is a strategic direction for Vietnamese seafood enterprises. The export potential of value-added pangasius will have even more opportunities in various markets, requiring enterprises to adapt to promptly grasp the demands and opportunities proactively.

Meksea sends you the list of our best-selling products this week

Kindly please visit Meksea website to explore our pangasius products: https://mekseaconnection.com/product-category/pangasius/

Meksea always pays particular attention to product quality to secure each consumer’s family member’s health and set their mind at rest by bringing in true quality seafood products.

Are you looking for shrimp products for your sales plan for 2024? Contact Meksea right now for the best offers.

By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: VASEP)

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