Pangasius is one of the most popular white fish in many markets around the world. However, this typical Vietnamese fish also faces many challenges, especially from competitors, other white fish such as cod, hake, tilapia, etc. In Brazil, Vietnamese pangasius is the number 1 choice among the white fish that this country imports from the world.

According to Vietnam Customs, the cumulative export of pangasius to Brazil as of September 15, 2024 recorded a positive growth of 26% over the same period last year, reaching more than 81 million USD. In particular, in the first half of September alone, the export value of pangasius to this market reached nearly 5 million USD, an increase of 3% over the same period in 2023. Brazil is the 3rd largest destination for Vietnamese pangasius, after China and the US.

Vietnam's pangasius exports to Brazil have recorded stable growth since the beginning of this year. Except for August 2024, pangasius exports to this market decreased by 10% over the same period last year, reaching only 12 million USD. This is also the second month to witness a decrease in pangasius export turnover to Brazil, previously, in February 2024, this value reached 6 million USD, down 6% due to the Tet holiday.

This South American country mainly consumes frozen pangasius fillet products from Vietnam. This market imports few other frozen products (whole, cut, pangasius bladder, etc.) and almost no imported VAT pangasius products from Vietnam, as of September 15, 2024.

According to the International Trade Center (ITC), frozen pangasius fillets with HS code 030462 are the products that Brazil buys the most from the world. In the first eight months of this year, Brazil imported nearly 86 million USD worth of frozen pangasius fillets with HS code 030462 alone, an increase of 54% over the same period. January this year was recorded as the month in which this country consumed the most frozen pangasius fillets, with nearly 17 million USD, double that of January 2023. Vietnam is the source of white fish (mainly pangasius) for this market in the first eight months of 2024, and is also the sole supplier to Brazil of frozen pangasius fillets with HS code 030462.

In recent years, consumers in this South American country have increased their demand for convenient processed products. In particular, in Brazil's most populous and wealthy city of São Paulo, which is considered to be the leader in the national consumption trend, are looking for frozen or conveniently processed seafood products that are nutritious and good for health. Meanwhile, Brazil almost does not import Vietnamese value-added pangasius products. This market probably still has a lot of potential and room for Vietnamese export enterprises to exploit.

Source: VASEP