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China is expected to increase consumption of Vietnamese pangasius in 2024

(vasep.com.vn) In 2023, Vietnam's pangasius exports will reach 1.8 billion USD, down 25% compared to 2022. In 2023, Vietnam's pangasius exports will face many difficulties, in when market consumer demand declines, especially in the European and Chinese markets. However, in the last months of 2023, exports recorded positive growth, which is a positive signal for the industry in 2024.

Although pangasius market share decreased in some large markets, pangasius exports to smaller markets such as Mexico, Canada, Brazil and the UK all showed positive signs.

According to data from the Ministry of Agriculture and Rural Development of Vietnam, the total area of ​​pangasius farming in 2023 will reach nearly 5,700 hectares , with output reaching 1.6 million tons . In 2024, pangasius production is targeted to reach 1.7 million tons with export revenue reaching 2 billion USD .

2023 will also see pangasius farming output in other countries increase significantly. Pangasius farming output in Indonesia is expected to be about 600 thousand tons, India 668 thousand tons, Bangladesh 500 thousand tons, China 400 thousand tons and the output of these countries will continue to increase in the near future.

Although Vietnam's annual pangasius productivity and output is still high, it must compete with many countries. Therefore, to promote exports, businesses need to change production regulations to promote trade, improve markets, and take advantage of processing by-products to create new value. In 2024, it is predicted that the demand for Vietnamese pangasius in many markets will still be large, especially for deeply processed products.  

In 2024, Vietnam expects China to be a high-growth area for pangasius consumption, especially after the country lifts restrictions on imported goods to prevent the Covid epidemic. The loosening of nucleic acid testing control policies has partly helped improve demand for food and seafood in this market. Consumers in mainland China are still Vietnam's largest customers for pangasius consumption. As of late 2023, Chinese businesses are stockpiling goods to supply the huge demand during the Lunar New Year holiday for hotels, restaurants, and the service and tourism industry.

In 2023, pangasius exports face many challenges, Vietnam's pangasius exports reach the finish line with a total turnover of 1.8 billion USD . Although still decreasing, the decline gap has narrowed over the months and recorded positive growth in some main markets. It is expected that a slight recovery in export value in the last 2 months of 2023 will be a positive start for pangasius exports in 2024.

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Hello! I am Victoria Anderson. I am city skyline and landscape photographer. I fell in love with photography when I bought my first digital camera Canon 5d Mark II back in 2011.