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According to the latest information from a consulting firm based in Ho Chi Minh City, authorized by Undercurrent News to collect and analyze, prices of Vietnamese farmed fish rose sharply in early 2025 due to limited source of raw material. After a significant increase at the end of 2024, the price of pangasius mostly started this year at its highest level in a long time.

The last week of 2024 saw a sharp increase, and the first week of 2025, the increase was lower a bit but maintained at a high level. Fish weighing more than 1.2 kg recorded the highest price, reaching 32,440 VND (1.28 USD)/kg, the highest since 2022. These big fish are mostly popular in the Chinese market, while smaller sizes are preferred for fillet exports to the EU and the United States.

The consulting firm said that the main reason for the sharp rise in the price of large-sized fish was that the number of fish was very limited. In particular, as of the end of December 2024, fish weighing 800g to 1kg accounted for 37% of the total, while fish of larger size only accounted for about 5%.

In addition, demand from the Chinese market, especially during the Lunar New Year, also contributed to the price increase. In addition, the supply of fish is limited as fish grow slowly in cold weather in December.

The price of pangasius also continued to rise sharply, reaching VND 46,300/kg in the first week of 2025, the highest since February 2023. The consulting firm also warned of a shortage of fish in the coming months, due to a sharp drop in supply and a low survival rate during the breeding season.

(vasep.com.vn) Another proud year of XK Vietnamese fishermen when reaching the milestone of more than USD 2 billion, contributing 20% to the total amount of XK fisheries products in Vietnam.

XK Vietnamese fish overcome 2024 with challenges with USD 2 billion in XK turnover, along with the slow but solid growth momentum. Changes in consumer preferences, market adjustments, fluctuations in geopolitical factors, war, freight rates, taxes, etc. is an unavoidable barrier in the current context.

However, the prerequisite for a product to stand firm in the market in general and gain full consumer confidence in particular is still good quality, accompanied by reasonable prices. The good quality of finished products comes from good manufacturing and processing processes and complies with ATTP hygiene standards. To get that, before entering the factory and started processing, the harvested fish must meet all the size requirements, not carrying diseases. A good breed, carefully selected, raised in good conditions will determine the quality of the final product.

The average breeding time for pollack is 10 months, the fish will be about 0.7 - 1.5 kg/child that meets the commercial fishing standards. The breeding time is long, requires perseverance, care, meticulousness, close observation of the fish herd, timely detection and separation of the sick animal from the herd, ensuring production for the processing, production, export. So for increased production and exports, farmers are an important driver. Profitable farmers are the driving force to expand their ponds and limit the suspension of ponds.

2025 is considered an important year of the Vietnamese fisheries export industry with the core motivation of Vietnamese farmers and fishermen. 2025 also promises to be the year when pangasius export conquer new milestones. In terms of the consumption market, China & HK are still the top destination for Vietnamese fishermen. Particularly in December 2024, XK bet on this market reached more than 52 million USD, up 19% compared to the same period. The cumulative XK bet for the whole year 2024 to China & HK reached more than USD 580 million, a slight increase of 1.3% compared to 2023.

The U.S. continues to maintain the 2nd place, following China in the top of NK countries with the most number of Vietnamese fishermen. In the last month of 2024, XK trawlers to the US reached nearly US$28 million, up 40% from December 2023.

XK betters to the market block supported by the CPTPP Agreement also recorded 10% growth in 2024, with more than US$274 million. In particular, Mexico is still the top country in the NK category with the most inspectors from Vietnam. In 2024, XK trawlers to Mexico reached $76 million, up 4% from 2023.

The XK bet to the EU in the last month of 2024 also reached nearly US$16 million, an 18% increase compared to December 2023. Netherlands, Germany, Belgium, Spain... In turn, it is the top of NK countries with the most Vietnamese fish in the block. However, unlike other countries, XK alone to Germany saw a 2% decrease in 2024, with a value of more than USD 37 million.

 

 

(vasep.com.vn) Compared to the same period in 2023, Vietnam's pangasius exports in the first 11 months of this year recorded more positive results. According to data from Vietnam Customs, pangasius export turnover in November 2024 reached 179 million USD, up 16% compared to November 2023. Cumulative pangasius exports by the end of November 2024 reached 1.8 billion USD, up 10% over the same period last year.

The order of the top markets in terms of Vietnamese pangasius consumption was almost unchanged compared to the previous month. China & Hong Kong remain the largest destination for pangasius exports. Pangasius export turnover to this market in November 2024 will reach 50 million USD, up 27% over the same period in 2023. The total value of Vietnamese pangasius exported to China alone reached more than 500 million USD in the first 11 months of this year, up 1% over the same period last year.

In November 2024, pangasius exports to the US reached more than 26 million USD, up 14% compared to November 2023. By the end of November this year, exports of pangasius products to this superpower reached more than 317 million USD, up 26% over the same period.

Pangasius exports to the CPTPP market reached nearly 24 million USD in November 2024, up 5% over the same period last year. In the first eleven months of this year, pangasius exports to CPTPP reached 248 million USD, up 10% over the same period last year. In particular, Mexico continues to be the largest importer of Vietnamese pangasius in this market. In November this year alone, consumers in this country consumed nearly 6 million USD of pangasius, down 25% over the same period last year. Although the export value decreased in November, the export value of pangasius to Mexico by the end of November 2024 still recorded an increase of 5% and reached 69 million USD.

The EU is the 4th largest pangasius import market of Vietnam. The value of pangasius exports to this market in the first 11 months of this year reached nearly 161 million USD, up 3% over the same period last year. In November this year alone, the EU consumed nearly 17 million USD, up 43% over the same period in 2023. The Netherlands is still the largest importer of Vietnamese pangasius in this bloc in the first 11 months of this year with more than 43 million USD, up 7% over the same period in 2023.

In addition, Vietnam's pangasius exports to a number of other markets also recorded positive growth in November 2024, including: Thailand increased by 29%, the UK increased by 20%, Colombia increased by 2%,...

Vietnam's pangasius exports are on their way to the finish line of 2 billion USD as forecast at the beginning of the year, showing that the attractiveness, competitiveness and potential of the market are still strong. However, pangasius production and export activities still face many challenges, especially strong competition with other whitefish species. Vietnamese enterprises are forced to make calculations for a more diverse and proactive new direction to maintain and develop the market share of the Vietnamese pangasius industry in the international arena.

Pangasius exports in the first 9 months of this year are considered quite positive compared to the same period last year, when the entire export turnover continuously recorded positive growth. However, Customs data shows that in the first half of September 2024, some major markets witnessed a slight decline such as China & HK down 19%, of which Hong Kong alone decreased 17%, Thailand decreased 23%. Cumulative pangasius exports up to September 15, 2024 to markets generally still recorded growth due to the export turnover in previous months achieving quite positive results. Specifically: Up to September 15, 2024, pangasius exports to the US reached 240 million USD, up 23%; Brazil reached 81 million USD, up 26%; Thailand reached 43 million USD, up 9%.

In the first half of the last month of Q3/2024, Mexico continued to lead the CPTPP market in consuming Vietnamese pangasius with a value of 3 million USD, up 25% over the same period last year, contributing 30% of the total pangasius imports of CPTPP from Vietnam. Cumulative pangasius exports to Mexico as of September 15, 2024 reached 55 million USD, up 19% over the same period last year.

Behind Mexico, pangasius exports to Canada reached 2 million USD in the first half of September 2024, up 49% over the same period last year. As of September 15, 2024, pangasius exports to this market reached more than 28 million USD, an increase of 13% over the same period in 2023.

After 5 years since coming into effect in January 2019, CPTPP has played an important role in promoting Vietnam's trade with markets in the Americas, especially member markets including Canada, Mexico, Chile, and Peru (in which Canada, Mexico and Peru are the markets that have FTA relations with Vietnam for the first time).

In addition, in the first weeks of September 2024, the continued increase in raw pangasius prices shows signs of warming up. In week 37, the price of raw pangasius was VND26,400/kg, down from VND28,900/kg in week 33, but still relatively high compared to other times in the first 8 months of 2024.

As of week 37, the price of fish sized 800gr - 1000gr was VND27,100/kg; 1000gr - 1200gr was VND27,460/kg, the last time this type had such a high price was in week 10, which shows that the market is in short supply of larger fish; and fish over 1200gr is 27,565 VND/kg, almost the same as the price of weeks 30 and 31. Previously, the price of raw pangasius of 800gr - 1000gr in the first 8 months of this year was generally lower than in 2023 and 2022.

With expectations of continued warming export prices and growth in export turnover, Vietnam's pangasius exports in Q3/2024 will still achieve positive results, as markets are gradually preparing goods to serve consumer demand during the 2024 year-end festival. Notably, value-added pangasius products will continue to break through and grow strongly in markets, especially China. Therefore, preparing goods to meet market demand will help businesses not waste potential and opportunities to expand market share for these products.

According to Vietnam Customs, Vietnam's pangasius exports in the first half of September 2024 reached 77 million USD, a slight increase of 1% over the same period in 2023. Cumulative exports up to September 15, 2024 reached nearly 1.4 billion USD, an increase of 9% over the same period last year.

The United Arab Emirates (UAE) is one of the customers who consume a lot of Vietnamese pangasius. Vietnam is also the largest supplier of pangasius in this market, accounting for 40-50% of the market share in the UAE. Pangasius exports to this West Asian country continue to receive strong reception and growth, even though the CEPA Trade Agreement - Vietnam's first free trade agreement negotiated with a country in the Middle East and Africa has not yet been signed.

According to data from Vietnam Customs, in May 2024, Vietnam's pangasius export turnover to the UAE will reach more than 2 million USD, up 40% compared to May 2024. Cumulative pangasius exports in the first 5 months of this year to this market reached more than 11 million USD, up 47% over the same period last year.

The main product of the pangasius industry exported to the UAE is still frozen pangasius fillet products (HS 03046200). By the end of May 2024, exports of this product to the UAE reached about 6000 tons, worth about 14 million USD, up 22% in volume and 61% in value over the same period last year, accounting for 90% of the proportion. Followed by frozen and packaged pangasius products (HS code 03032400) with an export turnover of about 1.3 million USD in the first 5 months of this year, up 84% over the same period, accounting for 9% of the proportion.

The UAE has a series of factors that are suitable to become one of Vietnam's important trading partners such as: Ranking first in the economy in Arab countries and ranking 17th out of 61 highly competitive economies in the world, the per capita consumption of seafood is higher than the world average, etc... The agricultural economic structure accounts for less than 1%, so up to 90% of the country's seafood consumption comes from imports, young people love proteins from seafood in the context of the UAE's economy continues to expand,... By the end of 2023, Vietnam and the UAE have basically completed most of the negotiations on the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA), which is expected to be signed in 2024.

The CEPA agreement not only helps export goods directly to the UAE, but also helps Vietnam's goods penetrate the Middle East market through the "UAE gateway" - a key market in the Middle East, which is a focal point for countries such as Africa, Latin America and Europe. Asia in general, thanks to good seaport infrastructure, and developed aviation, is easily connected to markets.

However, the UAE is also one of the fiercely competitive markets in terms of both price and quality and this is also the biggest challenge for Vietnamese enterprises. Vietnam has to compete directly with a number of countries with which it has signed FTAs with the UAE such as India, Indonesia, Israel and Turkey... because enterprises of these countries have enjoyed incentives when exporting goods to the UAE, they have a competitive advantage compared to Vietnam's exporters.

Therefore, in order to further promote the export of Vietnamese goods to the UAE, Vietnamese enterprises need to apply advanced science and technology in production, change management methods, minimize intermediary costs, in order to reduce product costs and increase the competitiveness of Vietnamese products.

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