Image: Stockfile FIS

Brazil Increases Import of Vietnamese Pangasius in the First Quarter of This Year

BRAZIL
Friday, May 10, 2024, 01:00 (GMT + 9)

In the first quarter of 2024, Vietnamese pangasius exports to the Brazilian market reached nearly 28 million USD, an increase of 44% over the same period in 2023.

Source: Stockfile FIS

Pangasius export turnover to Brazil in January 2024 reached 14 million USD, an increase of 83% compared to January 2024. In February 2024, this largest country in South America consumed nearly 6 million USD of pangasius, down 6%, and in March 2024, it consumed more than 8 million USD of pangasius, up 48% over the same period.

Brazil almost only imports frozen pangasius fillets HS0304 from Vietnam. In the first quarter of 2024, exports of this product to Brazil reached nearly 28 million USD, an increase of 44% over the same period in 2023, accounting for 99.6% of the proportion. Notably, in the first 3 months of this year, Brazil imported more than 110 thousand USD of frozen pangasius products from Vietnam, while in the same period last year, this country almost did not import this product.

Source: Vasep

The average price of Vietnamese pangasius exports to Brazil in February 2024 witnessed the lowest level in the past 3 years, since 2022, at 2.67 USD/kg. In the first three months of this year, the average price of pangasius exports decreased by 12% - 14% compared to the same period last year.

Source: Stockfile FIS -->

Although prices continue to decline, the volume of pangasius exports to this market shows an opposite trend. In QI/2024, the volume of pangasius exports to Brazil reached nearly 7,000 tons, an increase of 79% compared to QI/2023. January 2024 was recorded as the month with the highest growth rate in the first quarter of this year with more than 3,000 tons, an increase of 183% over the same period last year. In February and March 2024, the volume of pangasius exports to this country reached more than 1,800 tons, up 23%, and 1,700 tons, up 46%, respectively, compared to the same period in 2023.

According to ITC's latest data, in 2023, Brazil will import nearly 98 million USD of pangasius from Vietnam, mainly frozen pangasius fillets. Vietnam continues to be the largest source of white fish fish, mainly pangasius for Brazil. Meanwhile, Norway ranked 4th with 43 million USD; China ranked 5th with 15 million USD, the US with more than 1 million USD and is the 6th largest source of whitefish for Brazil.

The top 5 enterprises exporting the most Vietnamese pangasius to Brazil in the first quarter of this year include: Hung Ca 2 with 26%, Thuy San with 16%, Hoang Long with 11%, Can Tho Seafood with 10%. % and Frozen Food Vietnam with 9% proportion.

Author: Jue Hang | Vasep (Translated from the original in Vietnamese)

[email protected]
www.seafood.media

Print