Stand a chance for Vietnam’s pangasius exports to the US to increase

Exported value-added pangasius to the US keeps rising. In July 2024, the export value of this product reached US$1.3 million, an increase of 42 thousand times compared to the same period in 2023, accounting for 33% of the total value-added pangasius exported by Vietnam to markets in July 2024.In June, the export was more than US$800 thousand, an increase of 7 times compared to the same period.

By the end of July 2024, the export of value-added pangasius to the US reached about US$3 million, an increase of 14 times compared to the same period last year. This figure accounts for 14% of the total value of value-added pangasius exported by Vietnam to markets in the first 7 months of 2024. Exports of dried pangasius and other frozen products (whole round, steak, bladder, etc.) to the US in the first 7 months of this year were unstable when the previous month, the value recorded growth, but decreased immediately in the following month. However, in July 2024, exports of dried pangasius and other frozen products to the US doubled, reaching US$490 thousand. In February, April, and June 2024, the export value of this product all decreased by double digits.

Frozen pangasius fillets are still the main product exported to the US, reaching US$29 million, an increase of 61% over the same period in 2023. By the end of July 2024, the export value of frozen pangasius fillets to the US was US$185 million, an increase of 19%. According to ITC, in the first half of this year, Vietnam is still the second largest supplier of whitefish (mainly pangasius) to the US with US$184 million, an increase of 472%, accounting for 21% of the total value of whitefish imported from the world. May 2024 had the highest import of whitefish from Vietnam to the US since the beginning of this year, with US$43 million, an increase of 22% over May 2023; In June 2024, the US bought nearly US$42 million, an increase of 22% over the same period in 2023. China is still the largest supplier of whitefish to the US, accounting for 41% of the total whitefish imported by the US, with a value of US$357 million. Pangasius exports to the US have shown a recovery trend, as inventories of this market in 2023 have decreased significantly. Festivals and year-end holidays have also raised consumer demand. In December, pangasius exports to the US are expected to grow. However, exporters still have to face the impacts of the Russia-Ukraine war, or increasingly tense conflicts that have not yet ended in the Red Sea.

(Source: https://seafood.vasep.com.vn/)