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US value-added pangasius imports from Vietnam increased 8.5 times 

 Tuesday, May 28,2024

AsemconnectVietnam - By the end of April 2024, the United States increased imports of value-added pangasius products from Vietnam by 8.5 times to 860,000 USD.

According to data from General Department of Customs, pangasius exports to the United States in April 2024 earned nearly 38 million USD, an increase of 34% compared to April 2024. By the end of April, this market consumed 102 million USD of pangasius, up 19% over the same period last year.
Notably, since the beginning of this year, the United States has continuously increased imports of value-added pangasius products from Vietnam. In the first month of this year, Vietnam exported nearly 295,000 USD of value-added pangasius to the United States, an 18-fold increase over the same period; In February 2024, this value reached more than 114,000 USD, an increase of 2,200 times. In March 2024, it increased by 76% to 150,000 USD.
In April 2024, exports of value-added pangasius products to the United States reached more than 300,000 USD compared to only 5 USD in export value of these products in April 2023 (an increase of 67,000 foldtimes). By the end of April 2024, the United States increased imports of value-added products from Vietnam 8.5 times to 860,000 USD.
Unlike a strong increase in demand for value-added pangasius, imports of frozen pangasius in April 2024 of the United States witnessed a negative growth of 72% with a value of 165,000 USD. Total export of Vietnamese frozen pangasius to the United States in the first 4 months of this year reached nearly 1 million USD, down 28% over the same period last year.
Frozen pangasius fillets are still main product of pangasius exports to the United States. In April 2024, export turnover of frozen fillet products to the United States reached more than 37 million USD, an increase of 35% compared to April 2023. This is the highest value the United States has imported since the beginning of this year for pangasius products under code 0304 (except fish cakes and surimi). By the end of April 2024, exports of frozen pangasius fillets to the US reached more than 100 million USD, an increase of 19% over the same period in 2023, accounting for 98% of the total value of pangasius exports to the US.
Consumers in the United States are increasing their demand for white fish products, especially pangasius from Vietnam. Pangasius exports to the US in April and in the first 4 months of this year showed many signs of improvement after continuously declining in 2023. Recently, a large number of Vietnamese enterprises participated and introduced their products. Vietnamese pangasius at the North American Seafood Exhibition. With advantage of a delicious white-flesh fish, suitable for processing a variety of dishes from packaged fillets, frozen products to processed products such as fish sticks or fish burgers, it has attracted importers to come from this market.
In addition, the fact that white meat fish supplies to the United States are decreasing in context of scarcity of other white fish products such as tilapia is also a positive sign for Vietnamese pangasius exports to the US market.
News that the United States is considering recognizing Vietnam as having a market economy has brought optimistic hope to many Vietnamese economic sectors, including fisheries industry. It is expected that in July 2024, US Department of Commerce (DOC) will make a decision on whether Vietnam can change its status from a non-market economy to a market economy. If Vietnam is recognized as having a market economy, this will be an advantage for Vietnamese businesses in upcoming administrative reviews of anti-dumping taxes on shrimp and pangasius.

L. Giang
Source: Vitic/ congthuong.vn
 

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