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In the first quarter of 2024, pangasius export to UAE market increased by 67% 

 Tuesday, April 23,2024

AsemconnectVietnam - In the first 3 months of 2024, Vietnam's pangasius exports to the UAE market reached more than 7 million USD, up 67% over the same period last year.

According to data from General Department of Customs, in March 2024, Vietnam exported more than 2 million USD of pangasius to the United Arab Emirates (UAE), an increase of 62% compared to March 2024. Cumulative pangasius exports in the first 3 months of this year to this market reached more than 7 million USD, up 67% over the same period last year.
Previously, in the first month of this year, this market increased impressively by nearly 2.5 times compared to Vietnamese pangasius imports with nearly 4 million USD. However, in following month, export value immediately decreased by 31% and reached just over 1.2 million USD.
According to Vietnam Association of Seafood Exporters and Producers, the UAE mainly imported frozen fillet products with code HS 0304 from Vietnam with more than 2 million USD in March 2024, an increase of 51% compared to March 2023 and increased 81% compared to the previous month, but decreased 33% compared to January 2024. This product accounts for 93% of Vietnam's total pangasius exports to the UAE.
In the first quarter of 2024, this market imported nearly 7 million USD of frozen Vietnamese pangasius fillets, an increase of 56% over the same period last year. In addition, in the first 3 months of 2024, the UAE also imported fresh/frozen/dried pangasius (code 03) and value-added pangasius with a value of 517,000 USD, an increase of 15 times and 152,000 USD, up 62% over the same period in 2023.
Notably, in March every year for the past 2 years from 2022, this market has hardly consumed frozen pangasius and value-added pangasius products from Vietnam. However, in March 2024, the UAE imported these two products again with values of 79,000 USD and 75,000 USD respectively.
UAE is a net importer of seafood and 90% of the food consumed in this market comes from import. According to Food and Agriculture Organization of United Nations (FAO), UAE consumes more than 220,000 tonnes of seafood each year and has a per capita seafood consumption of 28.6 kg/year, higher than an average.
Potential for exporting pangasius to this area is still good as the population in the UAE is increasing, people's income is high and urbanization rate is fast. Rising disposable income and young people's preference for seafood protein along with travel are expected to boost seafood consumption. Furthermore, UAE Central Bank increased its 2024 growth forecast for the country's economy to 5.7%, from 4.3% previously.
In addition, UAE's travel and tourism industry is expected to create an additional 23,600 jobs by 2024 for a total of about 833,000 jobs this year. Geopolitical tensions between Israel and Iran have not reduced the need for people around the world to travel to nearby areas. Tourism has developed, leading to an increase in services related to restaurants and catering, creating favorable conditions for the seafood export industry, including pangasius, to move deeper into this market.

L. Giang
Source: Vitic/ congthuong.vn
 

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