Unprecedented pangasius export growth to China in June

Vietnam Customs data reveals that in Q2/2024, Vietnam’s pangasius exports to China and Hong Kong reached $146 million, a 6.5% increase compared to Q2/2023. Notably, Hong Kong’s imports decreased by 11% year-on-year, totaling over $7 million.

China and Hong Kong remain the top consumers of Vietnamese pangasius, contributing 28% to the total export value. June 2024 marked the highest export value since the beginning of the year, with nearly $56 million, a 16% increase compared to June 2023. Chinese consumers favor frozen pangasius fillets, with over $36 million in sales in June 2024, an 8% year-on-year increase.

In Q2/2024, exports of frozen pangasius fillets (HS 0304) to China and Hong Kong reached $92 million, a 1% increase compared to Q2/2023. However, the first half of the year saw a 17% decline, totaling over $158 million, representing 61% of the total pangasius exports to this market.

Source: VASEP

Other pangasius products also experienced significant growth. In the first six months, exports of dried and other frozen pangasius products (whole fish, cuts, swim bladders, etc.) reached nearly $100 million, an 11% increase year-on-year. Value-added pangasius exports achieved $508,000, a 24% increase.

Despite a 7-18% drop in average export prices, the volume of pangasius exports to China in the first half of the year grew by 34%, mainly driven by Q2/2024. China’s slowing economy has led consumers to be more cautious, pushing importers to focus on cheaper products. Pangasius, being more affordable than some domestic fish like carp and tilapia, has secured a strong market position.

The top five exporters of pangasius to China are Truong Giang, Dai Thanh, Nam Viet, Hung Ca 6, and I.D.I Corp

(Source: https://vietfishmagazine.com/)