After the first months of the year, pangasius exports declined, up to this point, pangasius exports have shown signs of recovery, with markets increasing imports, causing pangasius export turnover to skyrocket. 

Processing pangasius fillets for export at Sao Mai Group's factory. Illustration photo: Vu Sinh/TTXVN

Statistics from Vietnam Customs show that pangasius export turnover in the first 5 months of 2024 is estimated to reach 725 million USD, up 2% over the same period in 2023.

According to the Vietnam Association of Seafood Exporters and Producers, the largest import market for Vietnamese pangasius currently is the US, followed by China, Europe and some other South American markets. Among Vietnamese pangasius products, the US is currently increasing imports of processed pangasius, with value increasing 8.5 times compared to the same period in 2023. Meanwhile, frozen pangasius entering the US market is slow. decline due to reduced consumer demand.

Frozen pangasius fillets are still the main product of pangasius exports to the US. By the end of May 2024, exports of frozen pangasius fillets to the US reached more than 120 million USD, an increase of 19% over the same period in 2023, accounting for 98% of the total value of pangasius exports to the US.

Mr. Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers, shared that consumers in the US are increasing their demand for white meat fish products, especially pangasius from Vietnam. Recently, a large number of Vietnamese businesses participated and introduced Vietnamese pangasius products at the North American Seafood Exhibition. With the advantage of delicious white-fleshed fish, suitable for processing a variety of dishes from packaged fillets, frozen products to processed products such as fish sticks or fish burgers, it has attracted importers to come. from this market.

In addition, the fact that white meat fish supplies to the US are decreasing in the context of scarcity of other white meat fish products such as tilapia is also a positive sign for Vietnamese pangasius exports to the US market.

"The information that the US is considering recognizing Vietnam as having a market economy has brought optimistic hope to many Vietnamese economic sectors, including the fisheries industry. It is expected that in July 2024, the DOC will There is a decision on whether Vietnam will be able to change its status from a non-market economy to a market economy. If Vietnam is recognized as having a market economy, this will be an advantage for businesses Vietnamese businesses in the upcoming administrative reviews of anti-dumping taxes on shrimp and pangasius," said Mr. Truong Dinh Hoe.

As for the European market, although this market has become vibrant again from April 2024 until now, pangasius export turnover to this market in the first 5 months of 2024 is estimated to reach 70 million USD, but there are signs that a decrease of 7% compared to the same period in 2023.

Ms. Thu Hang, pangasius market expert, Vietnam Association of Seafood Exporters and Producers, said that Germany surpassed the Netherlands to become the largest destination for Vietnamese pangasius exports in Europe. In addition, in May 2024, the Vietnam Association of Seafood Exporters and Producers also recorded that many markets in the European bloc had positive growth in Vietnamese pangasius imports, including: Lithuania increased by 215%, Spain increased by 215%. Spain increased by 69%, Belgium increased by 62%, Greece increased by 46%, Portugal increased by 15%...

Pangasius businesses assess that the market needs to focus more on the market because of the demand for white meat fish consumption. In addition to focusing on value-added products and ensuring green standards in this market, communication and marketing activities for pangasius products in this market need to continue to be promoted.

The representative of the Vietnam Association of Seafood Exporters and Producers assessed that European economic recovery and growth in 2024 will not be easy due to the increasingly tense developments of the Russia-Ukraine conflict, along with with the conflict in the Middle East, with its destabilizing and risky impacts on the economic prospects of this Union. Seafood exports to Europe, including pangasius, will be affected by the global recession. Vietnamese export enterprises need to take full advantage of the incentives and advantages that the Vietnam-Europe Free Trade Agreement (EVFTA) brings to participate more deeply in the European market. At the same time, meeting the green standards of this market block on environmental protection and sustainable development are also important factors for Vietnamese businesses to penetrate deeper into Europe.

With the current prosperity of pangasius processing and export, the pangasius industry forecasts that Vietnam's pangasius export price will increase by 10% in the third quarter of 2024, due to the combination of fuel factors and logistics costs. , bank interest rates cool down. This is an opportunity for the entire Vietnamese pangasius industry.

Mr. Ong Hang Van, Deputy General Director of Truong Giang Seafood Joint Stock Company, said that as one of Vietnam's leading pangasius export enterprises, Truong Giang Seafood currently exports more than 50% of its goods to China. Quoc. The remaining mainly serve markets such as Canada, Colombia, Taiwan (China), Singapore... The pressure on businesses' inventory has gradually decreased, which will be an opportunity to increase production and fulfill new orders at low levels. Better price. Recently, China has reduced inventory so it has increased purchasing, and at the same time, South American markets such as Colombia prefer pangasius at cheap prices, so Truong Giang's export proportion has increased by more than 100% over the same period. In general, the market cannot recover immediately, or prosper in just a short time, but also depends on many objective factors of the world situation and internal businesses, to promote the pangasius industry. in the third quarter of 2024.