According to data from General Department of Vietnam Customs, in the first 8 months of 2024, value-added pangasius (VAT) export industry has made significant progress. In particular, total export value in August reached nearly 191 million USD, up 12% over the same period last year, bringing cumulative export value in 8 months to nearly 1.3 billion USD, up 9%. VAT pangasius products recorded remarkable growth, with nearly 6 million USD in August, up 75% and a cumulative 27 million USD in 8 months, up 38%.
Of which, the US, CPTPP and the Netherlands are main markets for Vietnamese VAT pangasius during this period. In particular, exports to countries in Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) reached more than 8 million USD, up 31%, of which Australia is the largest consumer market.
In the US market, VAT pangasius has become an increasingly popular commodity, with exports in August 2024 reaching nearly 3 million USD, 15 times higher than in August 2023. Total export value to the US in the first 8 months of 2024 reached nearly 6 million USD, 14 times higher than the same period. This shows a strong increase in the US consumer trend for white fish products, especially in context of shrinking supplies from other markets.
Thailand holds the third position in list of countries importing VAT pangasius from Vietnam, with a total value of more than 4 million USD in the first 8 months of the year, a slight increase of 1%. Although this market fluctuated when there were no imports in May, Thailand is still one of the stable markets for Vietnamese pangasius.
In UK market, despite a 1% decrease in the first 8 months of the year, VAT pangasius exports still reached nearly 4 million USD, holding the fourth position. Notably, the Netherlands continued to be the largest market in the EU, accounting for 86% of export value, reaching more than 2 million USD, up 29%.
China and Hong Kong are also emerging as potential markets, with growth three times higher in August 2024 compared to the same period last year. Although export value is still modest, potential in these markets is highly appreciated due to growing demand for VAT pangasius.
VAT pangasius products such as fried pangasius, crispy pangasius skin snacks and basa fish cakes are popular in international markets. These products not only meet diverse needs of consumers but also open up great opportunities for Vietnamese seafood enterprises.
According to Ms. Le Hang, Communications Director of Vietnam Association of Seafood Exporters and Producers (VASEP), to maintain growth momentum, enterprises need to focus on improving product quality and researching international markets. Participating in trade exhibitions and promoting modern marketing strategies will help Vietnamese pangasius industry affirm its global position.
The US's consideration of recognizing Vietnam as a market economy is also a favorable factor, helping seafood businesses better cope with anti-dumping tax inspections. In addition, businesses should take advantage of free trade agreements such as EVFTA to expand their presence in Europe.
The US Department of Commerce (DOC) has just determined that many pangasius fillet exporters from Vietnam do not have any acts of dumping products into the US market. This is the best news after 20 years of being involved in a pangasius dumping lawsuit in the US, opening up good opportunities for this demanding export market.
Many forecasts show that demand for seafood in general and pangasius in particular in the US market will increase at the end of the year during holiday season. At the same time, positive results in POR19 and recent inspection by FSIS will create a positive sentiment for Vietnamese pangasius exporting businesses to the US in the last months of the year.
Growth of Vietnam's value-added pangasius exports in 2024 not only reflects sustainable development of seafood industry but also creates many new opportunities in international market. With investment in quality and sustainable development strategy, Vietnam's value-added pangasius is facing a great opportunity to dominate the market and affirm its position on the world export map.

Source: Vitic/ congthuong.vn