In export markets, demand for Vietnamese pangasius in China is expected to rise significantly, with January exports to China and Hong Kong reaching $52 million USD, nearly quadrupling from January 2023. This growth is driven by relaxed import restrictions and higher restaurant consumption.

The US market is also recovering, with January imports of Vietnamese pangasius increasing by 83% to $18 million. Despite a slight decline in February, total exports for the first two months rose 25% year-over-year to $34 million due to reduced inventories and favorable anti-dumping tax reviews.

The EU market shows strong growth, with exports expected to exceed $200 million in 2024. The Netherlands is the largest importer, followed by Spain, Germany, Belgium, and Poland. Smaller markets like Hungary, Slovenia, Spain, and France also show significant growth.



Challenges include meeting diverse EU requirements and overcoming inflation-driven spending limitations, however EVFTA (or the European Union Vietnam Free Trade Agreement) offers a competitive edge for Vietnamese exporters.

Vietnam's pangasius industry is enhancing its pricing and export strategies by expanding on other products and/or by-products like fish maw and patties to boost competitiveness. Emphasizing sustainability and innovation, the industry targets a $2 billion export turnover by expanding beyond frozen fillets and leveraging trade agreements to access global markets.

With consumers exhibiting strong value-buying behavior, it seems there may not be a better time to look into a value priced pangasius program. Tradex is a leader in Vietnamese seafood production with over 2 decades of experience in production and importing/exporting from Vietnam into global markets. Get in touch with your Tradex Foods representative today.



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