In July 2024, pangasius exports to the US continued to grow impressively. According to Vietnam Customs, pangasius exports to the US in July 2024 reached nearly 31 million USD, up 69% over the same period last year. Cumulative pangasius exports to the US in the first 7 months of this year reached more than 190 million USD, up 20% over the same period in 2023.

Value-added pangasius products exported to the US have continued to grow strongly. In July 2024 - for the first time since the beginning of this year, the export value of this product to the US reached "million dollars", with 1.3 million USD, 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. Previously, in June 2024, the export of this product to the US also reached more than 800 thousand USD, 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 more than 3 million USD, an increase of 14 times compared to the same period last year. This figure accounts for 14% of the total value-added pangasius exported by Vietnam to markets in the first 7 months of this year.

Exports of dried pangasius and other frozen products (whole, cut, bladder, etc.) to the US in the first 7 months of this year were unstable when the value recorded growth in the previous month, but decreased in the following month. After decreasing in the middle of the year, in July 2024, exports of dried pangasius and other frozen products to the US doubled, reaching 490 thousand USD. In February, April, and June 2024, the export value of this product all decreased by double digits.

Frozen pangasius fillets have remained the main product exported to the US since the beginning of this year, with 29 million USD, up 61% over the same period in 2023. By the end of July 2024, the export value of frozen pangasius fillets to the US reached 185 million USD, up 19% over the same period last year.

According to ITC data, in the first half of this year, Vietnam was still the second largest supplier of whitefish (mainly pangasius) to the US with 184 million USD, up 472% over the same period last year, accounting for 21% of the total value of whitefish imported from the world by this country. In particular, May 2024 was recorded as the month with the highest import of whitefish from Vietnam to the US since the beginning of this year, with 43 million USD, up 22% over May 2023; In June 2024, the US bought nearly 42 million USD, up 22% over the same period in 2023. China is still the largest source of whitefish for the US, accounting for 41% of the total whitefish the US bought from the world, reaching a value of 357 million USD.

Pangasius exports to the US have tended to recover since the beginning of this year, as inventories in this market in 2023 have decreased significantly. In addition, preparations for festivals and year-end holidays have also increased consumer demand. In the last months of this year, pangasius exports to the US will continue to increase orders. However, exporting enterprises still have to face the effects of the Russia-Ukraine war, or increasingly tense conflicts that have not yet ended in the Red Sea.

Source: VASEP