Sharp increase in volume, pangasius exports to Brazil earn nearly 28 million USD

Consumers favor, Pangasius exports to Canada skyrocketed In the first quarter of 2024, Pangasius exports to the UAE market increased by 67%

According to the Vietnam Association of Seafood Exporters and Producers, pangasius exports to Brazil in January 2024 reached 14 million USD, up 83% compared to January 2024. In February 2024, this largest country in South America consumed nearly 6 million USD of pangasius, down 6%, and in March 2024, it consumed more than 8 million USD of pangasius, up 48% over the same period.

Brazil almost exclusively imports frozen pangasius fillets HS0304 from Vietnam. In the first quarter of 2024, exports of this item to Brazil reached nearly 28 million USD, up 44% over the same period in 2023, accounting for 99.6% of the proportion.

Notably, in the first quarter of this year, Brazil imported more than 110 thousand USD worth of frozen pangasius products from Vietnam, while in the same period last year, this country imported almost no products.

The average export price of Vietnamese pangasius to Brazil in February 2024 witnessed the lowest level in the past 3 years, since 2022, at 2.67 USD/kg. In the first three months of this year, the average export price of pangasius decreased by 12-14% compared to the same period last year.

Although prices have been continuously falling, the export volume of pangasius to this market has shown the opposite trend. In the first quarter of 2024, the export volume of pangasius to Brazil reached nearly 7,000 tons, an increase of 79% compared to the first quarter of 2023. January 2024 recorded the highest growth rate in the first quarter of this year with more than 3,000 tons, an increase of 183% over the same period last year. In February and March 2024, the export volume of pangasius to this country reached more than 1,800 tons, an increase of 23% and 1,700 tons, an increase of 46% over the same period in 2023.

According to the latest figures from the International Trade Center, in 2023, Brazil imported nearly 98 million USD worth of pangasius from Vietnam, mainly frozen pangasius fillets. Vietnam continues to be the largest supplier of whitefish, mainly pangasius, to Brazil. Meanwhile, Norway ranked 4th with 43 million USD; China ranked 5th with 15 million USD, the US with more than 1 million USD and was the 6th largest supplier of whitefish to Brazil.

The top 5 enterprises exporting the most Vietnamese pangasius to the Brazilian market in the first quarter of this year include: Hung Ca 2 with a proportion of 26%, Southern Seafood with 16%, Hoang Long with 11%, Can Tho Seafood with 10% and Frozen Food Vietnam with 9% proportion.

Source: https://congthuong.vn/tang-manh-ve-luong-xuat-khau-ca-tra-sang-brazil-thu-ve-gan-28-trieu-usd-319055.html