According to data from Vietnam Customs, in April 2024, Vietnam's pangasius exports to Korea reached nearly 773 thousand USD; increased nearly 3.5 times compared to April 2023 and decreased 16% compared to the previous month. Cumulative pangasius exports to this country in the first 4 months of this year reached more than 2.4 million USD, up 18% over the same period last year.

Frozen pangasius fillets are still the main product Vietnam exports to Korea. In April 2024, exports of frozen pangasius fillets to Korea reached more than 637 thousand USD, an increase of 424% compared to April 2023. By the end of April 2024, Korea's imports of frozen pangasius fillets from Vietnam reached more than 1.8 million USD, up 28% over the same period, accounting for 75% of the proportion.

In the first 4 months of this year, Vietnam exported nearly 84 thousand USD of VAT pangasius to Korea, down 21% over the same period last year, and accounting for 3% proportion.

According to ITC data, in 2013, Vietnam was the 6th supplier of white fish (mainly pangasius) to Korea, with a value of nearly 5 million USD. Vietnam is behind Russia, America, Taiwan, Japan, and China. 10 years later, white meat fish export turnover (mainly pangasius) to Korea will reach more than 10 million USD in 2023, doubling compared to 2013. Vietnam is the third largest supply source for Korea with its strength in pangasius products, accounting for 3% of the total value of this country's white meat fish imports from the world. Alaska pollock and Cod fish are two very popular and popular white meat fish products in the Korean market. These are products that attract the consumer tastes of this country. Russia and the US are still the two largest suppliers to Korea with values ​​reaching 273 million USD, down 5% and 74 million USD, respectively, up 23% compared to 2013.

Consumers in Korea are gradually changing their awareness, cutting down on consumption of red meat products, and instead choosing white meat fish species that are beneficial to health. This reason may cause the import rate of white fish products to begin to increase in the country's seafood import structure.

Source: VASEP