China biggest buyer of Vietnamese pangasius in first two months

China is biggest buyer of Vietnamese pangasius in first two months . (Photo: congthuong.vn)

According to data from the General Department of Customs, in February 2024, pangasius export turnover reached more than 90 million USD, down 42% year on year, and at the same time, witnessing negative growth in most markets and most product segments.

Despite a double-digit decline, pangasius exports by the end of February 2024 to markets still increased by 6% year on 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 the consumption market, China and Hong Kong (China) are still the leading importers of Vietnamese pangasius with a value of 23 million USD in February 2024, down 65% year on year. In the first two months, the value of pangasius exports to this market reached 75 million USD, down 4% year on year.

In February 2024, the US imported 16 million USD worth of pangasius from Vietnam, down 8% year on year. Pangasius exports to this market in the first two months reached 34 million USD, up 25% year on year mainly thanks to the turnover of the previous month nearly doubling.

Pangasius export turnover to the CPTPP market in the two months surpassed the US and became the second largest market in Vietnamese pangasius with 37 million USD, up 19% year on year.

In February 2024 alone, this market block consumed nearly 13 million USD worth of pangasius, down 28% year on year. Canada stands out with a positive growth rate of 23%, while most other countries reduced imports./.