MEKSEA.COM – According to Vietnam Customs data for November 2023, the export of Vietnamese pangasius to China and Hong Kong continued to show positive growth, reaching over 39 million USD, a 28% increase compared to last year. Specifically, the export value to China was over 36 million USD, representing a 29% growth compared to November 2022.

The cumulative export of pangasius to China and Hong Kong in the first 11 months of this year reached 529 million USD, showing a 21% decrease compared to the same period last year. By the end of November 2023, China had imported nearly 497 million USD worth of pangasius, marking a 21% decrease compared to last year.

According to data from the International Trade Centre (ITC), the export of whitefish products, including pangasius, from Vietnam to China experienced significant growth from 2012 to 2022. In the first 9 months of 2023, there is a rising trend in China’s import of fish ball and fish paste products (HS code 030493) from Vietnam.

Vietnam accounts for 16% of the total volume of whitefish that China imports globally. Vietnam ranks second, after Russia, as a source of whitefish supply for China, surpassing the United States and Norway. The convenient trade route with a shared border of nearly 1500 km, combined with the reputation and distinct flavor of Vietnamese pangasius, align well with the preferences of East Asian consumers, making Vietnam China’s top supplier of whitefish products.

According to Chinese Customs data, in the first 10 months of 2023, China imported over 145,000 tons of pangasius from Vietnam, with Guangdong being the largest consumer, importing over 24,000 tons during this period. Guangdong also consumed over 59,000 tons of frozen pangasius in the same period, with March 2023 being the peak month due to increased demand after the Lunar New Year holiday.

Following Guangdong, Shandong with 23,000 tons, Shanghai with 13,000 tons, Beijing with 8,000 tons, and Hubei with 4,000 tons are also leading destinations for Vietnamese pangasius in mainland China.

As the year-end approaches, China tends to increase its import of Vietnamese pangasius to meet the demand during the year-end holidays. According to Vietnam Customs data, the export value of pangasius has continuously grown in the last three months (September, October, and November). The main products exported to this market are frozen pangasius and pangasius fillets.

On December 12-13, 2023, Chinese General Secretary and President Xi Jinping, along with his spouse and a high-level delegation from the Chinese Communist Party and State, made a state visit to Vietnam. During the 15th anniversary of establishing the Comprehensive Strategic Cooperative Partnership (2008-2023) between the two neighboring countries, this visit brought new expectations for the bilateral relationship. It is anticipated to set a “new position” and a “new level” for the Vietnam-China bilateral ties.

Positive signals from the Chinese economy, increased order quantities, and especially the reinforcement of the bilateral relationship between Vietnam and China provide a basis for optimistic expectations regarding the export of Vietnamese pangasius to China in the coming period.

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By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: VASEP)

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