MEKSEA.COM – The export value of pangasius in October 2024 reached nearly $202 million, marking a 17% increase compared to October 2023. Over the first 10 months of the year, total pangasius export revenue amounted to $1.7 billion, a 9% rise year-over-year, signaling a strong performance for Vietnam’s pangasius sector.

United States: Leading Growth Driver

According to Vasep expert, In the first month of Q4 2024, exports of Vietnamese pangasius to the United States saw an impressive surge, totaling over $35 million, up 65% compared to the same period last year. For the first 10 months of 2024, the U.S. market contributed more than $291 million in pangasius export value, a 28% increase year-over-year.

The re-election of President Donald Trump, with his second term beginning early next year, is expected to bring new policies on import tariffs, including those for pangasius. With a focus on the agenda “Make America Great Again” and economic development, these policies could positively impact Vietnam’s pangasius exports. Additionally, the strategic comprehensive partnership between Vietnam and the U.S. positions Vietnamese exporters to benefit from trade incentives and expanding opportunities.

Anti-Dumping Tariffs: Positive Results from Preliminary POR20

The preliminary findings of POR20 (the 20th administrative review) have brought optimistic news for Vietnam’s pangasius industry. Two mandatory respondents received an anti-dumping duty rate of $0.00/kg, while six other companies were also granted separate rates at $0.00/kg. These outcomes represent a significant improvement from the POR19 review, where rates ranged from $0.00/kg to $0.18/kg. The reduced tariff rates are expected to enhance the competitiveness of Vietnamese pangasius exporters in the U.S. market.

CPTPP: Third Largest Market for Pangasius

Countries under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have emerged as the third-largest destination for Vietnam’s pangasius exports. During the first 10 months of 2024, export value to CPTPP markets exceeded $224 million, an 11% increase compared to the same period last year. Trade advantages stemming from the CPTPP agreement have significantly contributed to market expansion and revenue growth.

Year-End Trends and $2 Billion Target

As the year-end approaches, pangasius demand is projected to grow steadily, driven by orders for holiday and festive seasons. Moreover, concerns over potential tariff adjustments under the incoming Trump administration have prompted some importers to accelerate their orders before early 2025.

With robust growth in key markets such as the U.S. and CPTPP countries, coupled with favorable anti-dumping tariffs, Vietnam’s pangasius sector is on track to surpass the $2 billion milestone in export revenue for 2024, reaffirming its leading position in the global seafood industry.

Meksea’s High-Quality Pangasius

As a leading distributor in Vietnam, Meksea has a deep understanding of fishing growing regions, product characteristics, and seasonal availability.

Meksea allows for strict quality control of your products, from raw material sourcing to final export-ready products.

Our team, including a professional Customer Service team and an experienced QC team, closely monitors your shipments from the moment of order.

In addition, we offer flexible sales policies, allowing you to mix containers for your initial trial order.

With our diverse payment options, you can ensure your orders fit your financial plan.

If you are also looking for pangasius or other seafood products from Vietnam, contact Meksea right now:

Mobile/WhatsApp/Wechat: +84 903 872 469 Mr. Hoang (Commercial Director)
Email to: hoang@mekseaconnection.com

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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 Pangasius products for your sales plan for 2024 and 2025? Contact Meksea right now for the best offers.

By Hayati/Orange (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: VASEP)

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