According to Vietnam Customs, in the first half of July 2024, Vietnam's pangasius exports to Brazil reached more than 4 million USD, up 4% over the same period in 2023.
Accumulated exports as of July 15, 2024 reached 58 million USD, up 38% over the same period last year and is the third largest pangasius import market of Vietnam, after China and the US.
In the second quarter of 2024, Brazil almost did not import value-added pangasius from Vietnam. This country only consumed frozen pangasius fillets code HS0304, with an import value of 26 million USD in the second quarter of 2024, up 39% over the second quarter of 2023. In the first 6 months of this year, imports of this item reached 53 million USD, up 41% over the same period in 2023, accounting for 99.8% of the proportion. In particular, January 2024 was recorded as a month when this market bought the most frozen pangasius fillets, with a value of more than 14 million USD, an increase of 83% over the same period last year.
For dried pangasius and other frozen products (whole, cut, pangasius bladder, etc.), in the first half of this year, Vietnam exported more than 110,000 USD to Brazil, 7 times higher than the same period last year, accounting for 0.2% of proportion, mainly exported in the first quarter. In the second quarter of 2024, Brazil did not import this product from Vietnam, while in the same period last year, this market imported more than 14,000 USD. According to data from International Trade Center (ITC), Vietnam is the 3rd largest supplier of white fish (mainly pangasius) to Brazil, after the US and Canada. Vietnam is a country with a geographical distance further from Brazil than the US and Canada, however, this South American country has continued to increase its imports of Vietnamese pangasius. In the first half of this year, Brazil recorded a positive growth of 77% in volume of pangasius imported from Vietnam and growth in all months. In particular, the first month of this year was the month when Brazil consumed the most pangasius with more than 3,000 tonnes, an increase of 183% compared to January 2023.
Although an average export price decreased, export value of pangasius to Brazil still grew positively thanks to increase in import volume. An average export price of Vietnamese pangasius to Brazil witnessed the lowest level in the past 3 years, since 2022. In particular, June 2024 witnessed the lowest price, only 2.61 USD/kg, down 13% compared to June 2023; and down 25% compared to June 2022. Average export price of pangasius to Brazil started to decrease from April 2023 and gradually decreased over the months. In March and April 2024, prices increased slightly to 2.71 USD/kg and 2.73 USD/kg, then continued to decline in May - June 2024.
Decrease in average export prices and increase in volume show that demand for pangasius in Brazil has not decreased. In 2024, Latin America's largest economy has raised its growth forecast to 2.3%, up from the previously forecast 1.9%. It is forecasted that in the second half of this year, this country will continue to increase pangasius imports in the first half of the year to prepare for festivals and holidays. However, average export price to Brazil will hardly grow strongly.

Source: Vitic/ congthuong.vn