According to Vietnam Customs, pangasius exports in September 2024 reached 172 million USD, up 3% compared to September 2023. Cumulative pangasius exports by the end of Q3/2024 reached 1.5 billion USD, up 8% over the same period last year.

Regarding the consumption market, after 5 consecutive months of positive growth, in September 2024, pangasius exports to China witnessed a 16% decrease compared to the same period in 2023, with an export value of 48 million USD. This is also the third month since the beginning of this year that this market has reduced imports of Vietnamese pangasius. By the end of September this year, pangasius exports to this market reached 418 million USD, down 4% compared to the same period last year.

Pangasius exports to the US still recorded positive results in the last month of Q3/2024, with a value of more than 30 million USD, an increase of 32% compared to September 2023. In the first nine months of this year, pangasius exports to this market reached 256 million USD, an increase of 24% over the same period last year. The US continues to be the second largest consumer of pangasius from Vietnam, after China. According to the International Trade Center (ITC), Vietnam is still the largest supplier of pangasius products to the US in the first 9 months of this year.

The inventory of finished pangasius products in the US is currently lower than the same period in 2023 as well as in 2022, which will encourage retailers to replenish inventory for the year-end holiday season. In addition, the decrease in inflation figures in the US is a factor that boosts consumption demand.

In September 2024, Thailand became the third largest single importer of Vietnamese pangasius. Pangasius exports to the "Land of the Golden Pagoda" in the last month of Q3/2024 reached 5.8 million USD, down 21% compared to the same period last year. By the end of September 2024, pangasius exports to this market reached 46 million USD, up 6% compared to the same period in 2023.

Pangasius exports to the EU witnessed a slight decrease of 1% in the first 9 months of this year with a value of 128 million USD. In September 2024 alone, pangasius exports to this market reached 14 million USD, down 2% compared to September 2023. The Netherlands is still the leading market in the EU for consuming Vietnamese pangasius. Pangasius exports to the Netherlands in the first 9 months of this year reached 36 million USD, up 2% compared to the same period last year.

Regarding export products, frozen pangasius fillets are still the main product of Vietnam's pangasius exports. The export value of this product to markets in the first 9 months of this year increased by 5% and reached 1.2 billion USD. By the end of September 2024, processed pangasius exports continued to grow by 45%, reaching 32 million USD. Exports of dried pangasius and other frozen products (whole, cut into pieces, etc.) reached 273 million USD, up 23% over the same period last year.

Vietnam's pangasius exports ended the first 9 months of the year with quite positive results, as markets maintained growth momentum. In the last 3 months of the year, trade and service activities will begin to bustle, stockpiling goods to prepare for festivals, which will be the peak season for pangasius exports to reach the target in 2024. Enterprises need to take advantage of the time, promote communication, and actively promote other pangasius products such as VAT pangasius to proactively seize opportunities from the market, especially for customers near the border such as China.

Source: VASEP