Vietnam’s pangasius exports to China reach its peak in June since the early year

China and Hong Kong continue to be the largest consumers of Vietnamese pangasius, contributing 28% to the total value of Vietnam’s exports to all markets. In June 2024, the export value of Vietnamese pangasius to China and Hong Kong reached the highest level since the beginning of the year, at nearly $56 million, up 16% compared to June 2023.

Consumers in this market tend to prefer frozen pangasius fillet products from Vietnam, with over $36 million consumed in June 2024, up 8% compared to the same period in 2023. In Q2/2024, exports of frozen pangasius fillet (HS 0304) to China and Hong Kong reached $92 million, up 1% compared to the same period in 2023. In the first half of this year, exports of frozen pangasius fillets to China and Hong Kong reached over $158 million, down 17% compared to the same period, accounting for 61% of the total pangasius exports to this market.

In addition, exports of other pangasius products to China and Hong Kong also underwent significant growth. Exports of dried pangasius and other frozen pangasius products (whole, cut piece, bladders, etc.) reached nearly $100 million, an increase of 11% compared to the same period last year.

The average export price of Vietnamese pangasius to China in the first half of this year decreased by 7% – 18% compared to the same period in 2023. Despite the decrease in export prices, the export volume of pangasius products to China in the first half of this year still saw a stable growth of 34%, mainly due to the growth in Q2/2024.

China’s slowing economy is making consumers more cautious and conservative in their spending, forcing the importers in this country to focus more on cheaper products. With prices lower than domestic fish species such as carp, tilapia, and snakehead, pangasius is preferred and has a more stable foothold in this nation.

The top 5 enterprises exporting the most pangasius to China include Truong Giang, Dai Thanh, Nam Viet, Hung Ca 6, and I.D.I Corp.

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