Vietnamese VAT Pangasius is one of the favorite products in many markets, besides the main product of frozen Pangasius fillets. In the first half of this year, Thailand, England, and Australia were recorded as the top 3 markets with the highest consumption of Vietnamese VAT Pangasius.

According to Vietnam Customs data, in Q2/2024, Vietnam's value-added pangasius exports reached 9 million USD, up 43%; in the first half of this year, the cumulative export of this product reached 17 million USD, up 28% over the same period last year, accounting for 2% of the total export of Vietnamese pangasius to markets.

Thailand is the largest consumer market of Vietnamese VAT pangasius in the first half of this year with a value of more than 3 million USD, up 4% over the same period last year, accounting for 19% of the total export of this product to markets. March 2024 was recorded as the month of VAT pangasius exports to Thailand with the highest value, with more than 800 thousand USD, up 86% over the same period in 2023. After increasing by one and a half times in April 2024, this market did not import VAT pangasius from Vietnam in May 2024. However, in June 2024, Thailand increased imports again, doubling compared to the same period last year, reaching more than 700 thousand USD.

For value-added pangasius products, Thailand mainly imports frozen fried pangasius bars, frozen fried breaded pangasius fillets, frozen fried breaded pangasius bars, frozen breaded pangasius pieces, and frozen fried breaded pangasius bars from Vietnam. Some enterprises exporting value-added pangasius to Thailand include: C.P. Vietnam Livestock Joint Stock Company - Ben Tre Frozen Branch, accounting for 90% of the proportion, Go Dang, accounting for 8% of the proportion, Vinh Hoan, and Phi Long Production - Import-Export Company Limited.

After Thailand, the UK is the second largest importer of value-added pangasius from Vietnam. In the first half of this year, exports of this product to the UK reached more than 2 million USD, down 4% compared to the same period in 2023. February 2024 is the month this market consumes the most value-added pangasius, with more than 500 thousand USD, up 56% over the same period.

In the VAT pangasius segment, in the first half of 2024, the UK mainly imported frozen breaded pangasius, accounting for 55% of the proportion, and frozen breaded pangasius fillets, accounting for 41%. C.P. Vietnam Livestock Joint Stock Company - Ben Tre Frozen Branch (55%), Vinh Hoan (41%), Go Dang (2%) and Phu Thanh (2%) are enterprises exporting VAT pangasius to the UK in the first 6 months of this year.

In the first half of 2024, VAT pangasius exports to Australia reached more than 2 million USD, an increase of 40% over the same period in 2023. February 2024 was the month this country consumed the most Vietnamese VAT pangasius in the first 6 months of the year, with more than 500 thousand USD, nearly 17 times higher than February 2023.

Frozen breaded pangasius fillets and frozen pre-fried breaded pangasius fillets are the two main products in the value-added pangasius segment that are favored by Australian consumers, with proportions of 46% and 16% respectively in total value-added pangasius exports to this market. Top enterprises exporting value-added pangasius to Australia include: Vinh Hoan accounting for 47%, Van Duc Tien Giang accounting for 28%, SEAVINA accounting for 21%,...

Vietnamese value-added pangasius products are gradually becoming popular in many international markets, due to their diversity, ease of processing, richness and richness in nutrients from delicious white-fleshed fish. Although the export value is still "modest" compared to the main product of frozen pangasius fillets, value-added pangasius still promises great export potential if enterprises know how to take advantage of opportunities.

Source: VASEP