Citing data from the General Department of Customs, the Vietnam Association of Seafood Exporters and Producers (VASEP) said that pangasius exports in September 2024 reached 172 million USD, an increase of 3% compared to September 2023. In the first 9 months of 2024, pangasius exports will reach 1.5 billion USD, up 8% over the same period last year.
DECLINE IN THE CHINESE MARKET, STRONG INCREASE IN THE UNITED STATES
Regarding the consumer market, after 5 consecutive months of positive growth, in September 2024, pangasius exports to China witnessed a decrease of 16% compared to the same period in 2023, with a value of 48 million USD. This is also the third month since the beginning of this year, this market has reduced imports of Vietnamese pangasius. By the end of the third quarter of this year, pangasius exports to the Chinese market reached 418 million USD, down 4% over the same period last year.
Pangasius exports to the United States still recorded positive results in September 2024, with a value of more than 30 million USD, an increase of 32% compared to September 2023. In the three quarters of 2024, pangasius exports to the United States reached 256 million USD, up 24% over the same period last year. The United States continues to remain Vietnam’s second largest pangasius consumer market, after China. According to the World Trade Center (ITC), Vietnam is still the largest supplier of pangasius products to the United States in the first 9 months of this year.
In September 2024, Thailand became the third largest single importer of Vietnamese pangasius. Pangasius exports to the “Land of the Golden Temple” in September 2024 reached 5.8 million USD, down 21% over the same period last year. From the beginning of the year to the end of September 2024, pangasius exports to this market reached 46 million USD, up 6% over the same period in 2023.
Pangasius exports to the EU will witness a slight decrease of 1% in the first 9 months of 2024 with a value of 128 million USD. In September 2024 alone, pangasius exports to this market reached 14 million USD, down 2% compared to September 2023. The Netherlands is still the leading market in the EU for Vietnamese pangasius consumption. Pangasius exports to the Netherlands in the first 9 months of 2024 reached 36 million USD, up 2% over the same period last year.
Regarding export products, frozen pangasius fillets are still the main product of Vietnam’s pangasius exports. The export value of this product to markets in the first 9 months of this year increased by 5% and reached 1.2 billion USD. By the end of September 2024, processed pangasius exports continued to grow by 45%, reaching 32 million USD. Export of dried pangasius and other frozen products (whole fish, cut into pieces,…) reached 273 million USD, up 23% over the same period last year.
NEED DEEP PROCESSING TO INCREASE PROFIT RATE
Ms. Le Hang, Communications Director of the VASEP Association, commented that seafood businesses are currently in the first month of the last quarter of the year with the expectation of achieving superior results compared to 2023.
“The third quarter of 2024 is a memorable period with a strong recovery from major import markets. Two major markets, the United States and China, have played an important role in bringing Vietnam’s seafood exports back to the growth trajectory. Specifically, in the third quarter of 2024, seafood exports to the United States reached 551 million USD, an increase of 19.5% compared to the third quarter of last year. Meanwhile, seafood exports to China and Hong Kong increased by 35.6%, reaching 571 million USD. This shows that demand from major markets is increasing again, especially for key products such as shrimp and pangasius,” Ms. Le Hang shared.
According to a VASEP representative, in 2024, both shrimp and pangasius continue to be key products and have positive prospects, thanks to growing demand and recovering prices in markets such as the United States, China, Japan, Australia. In the fourth quarter of 2024, trade and service activities will begin to actively stockpile goods in preparation for festivals, which will be the peak season for pangasius exports to reach the finish line in 2024.
Therefore, businesses need to take advantage of time, promote communication, and actively offer other pangasius products such as value-added pangasius to proactively seize opportunities from the market, especially for customers. with customers close to the border like China.
Previously, in 2022, for the first time, pangasius exports reached over 2.4 billion USD, but by 2023 it only reached 1.8 billion USD, down 0.4 billion USD compared to 2022. However, with the results As a result of the results achieved in the first 9 months of 2024, VASEP forecasts that pangasius exports for the whole year 2024 will regain the 2 billion USD mark.
Mr. Tran Dinh Luan, Director of the Department of Fisheries (Ministry of Agriculture and Rural Development), said that pangasius is raised mainly in the Mekong Delta with an area of more than 6,000 hectares/year, with an output of over 1,000 ha/year. 5 million tons/year, concentrated in some localities such as An Giang, Dong Thap, Can Tho, Ben Tre and Vinh Long.
In recent years, the pangasius industry chain has helped create many jobs for workers and made important contributions to socio-economic development in localities. The country’s pangasius farming area in 2023 will reach about 5,700 hectares, with an output of about 1.61 million tons.
Director of the Department of Fisheries commented that currently, pangasius processing and export activities have improved significantly, and the quality management of exported goods is increasingly strict. Most pangasius processing and exporting enterprises apply international food hygiene and safety and quality management programs such as HACCP, BRC, Global Gap, IFS, ASC and BAP certificates according to each individual’s requirements market.
Pangasius farming areas have been granted nearly 400 codes to identify commercial pangasius ponds with an area of nearly 2,000 hectares; produced according to VietGap, Global Gap, ASC processes and standards and is equivalent to an area of 827 hectares, accounting for over 55% of the farming area.
However, currently, India, China, Indonesia and some other countries have been investing heavily in production, possibly breaking Vietnam’s monopoly in the near future. This shows that Vietnamese businesses cannot continue to compete with cheap prices but must move one step higher in the value chain.
“Currently, the export seafood processing sector of Vietnamese enterprises has a certain position in the international market, so businesses need to shift to occupy high-end market share to increase profit margins for products. processing”, Mr. Tran Dinh Luan emphasized.
Source: VNECONOMY