Vietnam’s pangasius exports to China reach its peak in June since the early year
Sunday, August 4,2024![](/weblocalfiles/huong/thang8nam2024/282024162456cats.jpg)
AsemconnectVietnam - According to Vietnam Customs data, in Q2/2024, Vietnam's pangasius exports to the Chinese and Hong Kong markets reached $146 million, up 6.5% compared to the same period in 2023.
Hong Kong alone imported over $7 million worth of pangasius from Vietnam, down 11% compared to the same period last year.
China and Hong Kong continue to be the largest consumers of Vietnamese pangasius, contributing 28% to the total value of Vietnam's exports to all markets. In June 2024, the export value of Vietnamese pangasius to China and Hong Kong reached the highest level since the beginning of the year, at nearly $56 million, up 16% compared to June 2023.
Consumers in this market tend to prefer frozen pangasius fillet products from Vietnam, with over $36 million consumed in June 2024, up 8% compared to the same period in 2023. In Q2/2024, exports of frozen pangasius fillet (HS 0304) to China and Hong Kong reached $92 million, up 1% compared to the same period in 2023. In the first half of this year, exports of frozen pangasius fillets to China and Hong Kong reached over $158 million, down 17% compared to the same period, accounting for 61% of the total pangasius exports to this market.
In addition, exports of other pangasius products to China and Hong Kong also underwent significant growth. Exports of dried pangasius and other frozen pangasius products (whole, cut piece, bladders, etc.) reached nearly $100 million, an increase of 11% compared to the same period last year.
The average export price of Vietnamese pangasius to China in the first half of this year decreased by 7% - 18% compared to the same period in 2023. Despite the decrease in export prices, the export volume of pangasius products to China in the first half of this year still saw a stable growth of 34%, mainly due to the growth in Q2/2024.
China’s slowing economy is making consumers more cautious and conservative in their spending, forcing the importers in this country to focus more on cheaper products. With prices lower than domestic fish species such as carp, tilapia, and snakehead, pangasius is preferred and has a more stable foothold in this nation.
The top 5 enterprises exporting the most pangasius to China include Truong Giang, Dai Thanh, Nam Viet, Hung Ca 6, and I.D.I Corp.
Source: Vasep
Many banks gain big profits from foreign exchange trading
Vietnam’s fresh and live seafood has a lot of room for growth in the Chinese market
Vietnam becomes top ASEAN exporter to EU on back of EVFTA
Foreign investment in property sector in seven months surges 78%
Vietnam’s trade revenue in 7 months of 2024 and forecast
DAILY: Vietnamese coffee prices increased by 100 VND on August, 1 2024
Ho Chi Minh City’s CPI up 0.23% in July
Vietnam's economic indexes in 7 months of 2024
Vietnam cashew market update end of July 2024
Vietnam rice market update end of July 2024
Vietnam Durian market update end of July 2024
Vietnam steel market update end of July 2024
E-commerce sales expected to hit 30 billion USD by year end
Seven-month retail sales of consumer goods, services up 8.7%