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China is the largest buyer of Vietnamese pangasius in the first 2 months of 2024 

 Saturday, March 23,2024

AsemconnectVietnam - In the first 2 months of 2024, China and Hong Kong (China) were still the leading pangasius importers of Vietnam with a value of 75 million USD.

According to data from General Department of Customs, in February 2024, pangasius export turnover reached more than 90 million USD, down by 42% over the same period last year and at the same time, witnessed negative growth in most markets and most product segments.
Despite a double-digit decline, cumulative pangasius exports by the end of February 2024 to markets still increased by 6% over the same period last year and reached 255 million USD. This increase is mainly due to a record increase in export value in January 2024 when many markets increased imports to stock up for the Lunar New Year holiday.
Regarding consumption market, China and Hong Kong (China) are still the leading importers of Vietnamese pangasius with 23 million USD in February 2024, down 65% compared to February 2023. In the first two months of this year, value of pangasius exports to this market reached 75 million USD, down 4% compared to the same period in 2023.
In February 2024, the US imported 16 million USD of pangasius from Vietnam, down 8% compared to February 2023. Cumulative pangasius exports to this market in the first 2 months of this year reached 34 million USD, up 25% over the same period last year mainly thanks to turnover of the previous month nearly doubling.
Vietnam Association of Seafood Exporters and Producers said that recently, US Department of Commerce announced final results of the 19th administrative review (POR 19) for Vietnamese frozen pangasius fillets exported to the US market during a period of August 1, 2021 - July 31, 2022.
Accordingly, general anti-dumping tax rate that DOC imposes on Vietnamese pangasius exporters during this review is 2.39 USD/kg. Vinh Hoan enjoys a tax rate of 0.00 USD/kg. In addition, Can Tho Seafood Import-Export Joint Stock Company, Loc Kim Chi Seafood Joint Stock Company, I.D.I Multinational Investment and Development Joint Stock Company, Hung Vuong Joint Stock Company, Joint Stock Company Cafatex seafood products are all subject to an anti-dumping tax of 0.18 USD/kg.
Pangasius export turnover to CPTPP market in the first 2 months of this year surpassed the US and became the second largest market in Vietnamese pangasius consumption with 37 million USD, an increase of 19% over the same period last year. In February 2024 alone, this market block consumed nearly 13 million USD of pangasius, down 28% compared to February 2023. Canada stands out with a positive growth rate of 23% while most other countries reduced imports.
Difficulties and challenges still remain but positive information from the US market is also a good sign for Vietnamese pangasius exports in the near future.

Source: Vitic/ congthuong.vn
 

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