Once "out of breath", pangasius exports suddenly regain momentum

In contrast to the sad color of Vietnam's pangasius exports in 2023, in the first two months of this year, most major markets recorded this billion-dollar fish gaining momentum again.

In the first months of 2024, the pangasius export market will be smooth again as countries begin to place large orders. ((Source: Finance Magazine)

Discussing the situation of Vietnam's pangasius exports in the first two months of the year, Mr. Truong Dinh Hoe - General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) - informed that Vietnam's pangasius exports grew positively in the first two months of 2024.

Specifically, in January, pangasius exports reached 165 million USD, and by the end of February, they reached about 200 million USD, both months nearly doubling compared to the same period last year.

"In 2023, pangasius exports had a sad color scheme, but the first two months of the year showed good signs. It came from small markets such as the UK, Canada, Mexico, especially Brazil. Last year, exports to the "samba country" increased by nearly 80% in the last quarter, and even triple-digit growth in the last month. Vietnam still has a lot of room to develop more value-added products instead of just exporting frozen pangasius fillets to this market," said Mr. Hoe.

Explaining further the reason for the growth, Mr. Hoe said that consumer demand in some major importing countries of Vietnamese pangasius is on the rise. For example, China - the largest importer of pangasius from Vietnam, has imported nearly 3 times more since January than in the same period in 2023. Or the US market, after 11 months of 2023 with continuous decline due to inventory waiting to be consumed, has expanded inventory since December 2023.

As a large enterprise in the field of processing and exporting pangasius to more than 30 countries around the world , of which the US and China are the two main markets, Nam Viet Group also admitted that the pangasius export situation in 2023 is "not exciting".

Ms. Do Thi Thu Thuy - Sales Director of Nam Viet Group - said that in 2023, instead of exporting pangasius with little improvement, the group will shift to the domestic market.

"But in the first months of 2024, the market went smoothly again because countries started placing large orders. The group also recorded a lot of growth," Ms. Thuy said.

Meanwhile, a seafood export company in Dong Thap province reported that potential customers in the US have "reconnected" to place orders for pangasius fillets after nearly a year of gloom. This person said: "They stocked up to supply the huge demand of hotels and restaurants. But the inventory is almost gone, new orders are starting to come back."

Currently, pangasius exports are growing, so many export purchasing enterprises believe that the price of raw pangasius will increase. Specifically, it will increase from 25,000 - 26,000 VND/kg in 2023 to 28,000 - 29,000 VND/kg in early 2024.

(according to VOV)

Source: https://baoquocte.vn/tung-hut-hoi-xuat-khau-ca-tra-bat-ngo-lay-lai-da-tang-toc-262841.html