Pangasius exports aim for 2 billion USD by 2024

In 2024, the pangasius industry aims to reach a pangasius farming area of ​​5,700 hectares, commercial pangasius output of about 1.7 million tons, and expected export turnover of 2 billion USD.

Pangasius industry aims to export 2 billion USD in 2024

According to Vietnam Customs data, Vietnam's pangasius exports to markets in 2023 will reach more than 1.8 billion USD, down 25% compared to 2022.

Vietnam's pangasius export turnover to markets in December 2023 reached more than 158 million USD, up 5% over the same period in 2022. This is also the second consecutive month that pangasius export value recorded an increase in the difficult year of 2023.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in terms of export markets, in 2023, China and Hong Kong (China) will continue to be the largest importers of pangasius from Vietnam. In 2023, pangasius exports to China and Hong Kong (China) will reach nearly 573 million USD, down 20% compared to the same period in 2022.

This market has increased imports of pangasius products since September 2023 and continuously recorded positive growth in the following 2 months. However, in December 2023, pangasius export turnover to China decreased slightly by 2%, causing total exports to China and Hong Kong to decrease by 0.4% compared to the same period in 2022.

According to Seafood Guide, in the first 11 months of 2023, China imported about 154 thousand tons of pangasius, down 35% over the same period. Many agents in this country are starting to stockpile and import more pangasius products to meet demand before the Lunar New Year 2024.

In 2023, the CPTPP market imported nearly 249 million USD worth of pangasius from Vietnam, down 24% compared to 2022. CPTPP is also a market that witnessed a sharp decline in pangasius imports in 2023, but growth signals returned in the last quarter of 2023.

In December 2023, the export value of pangasius to this market reached its highest level since the beginning of the year, up slightly by 7% over the same period. After 5 years, the CPTPP Agreement has opened up more opportunities for Vietnamese pangasius to come closer to every meal of consumers in this market block.

VASEP experts said that in 2023, pangasius exports to four main markets will decrease significantly. Vietnamese seafood exports, including pangasius, will face many difficulties such as economic recession, people in developed countries limiting spending, large inventories and global inflation.

However, with the flexible management of the Government and the efforts of the entire industry, Vietnamese pangasius products continue to conquer the markets of 146 countries and territories around the world . In addition to the main product of pangasius fillets, by-products (dried pangasius bladders, sausages, pangasius marinated with dill...) are favored by the markets of the US, China, Malaysia, and Singapore.

VASEP said that by 2024, the pangasius industry aims to: Pangasius farming area will reach 5,700 hectares, commercial pangasius output will reach about 1.7 million tons, and export turnover is expected to reach 2 billion USD.

To achieve this goal, the whole industry needs to focus more on building strong brands and marketing campaigns to enhance the presence and reputation of Vietnamese pangasius in the international market. Promote pangasius products through international exhibitions and fairs, and build a network of partners and customers at home and abroad.

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