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. QI/2024, exports of this product to Brazil have reached nearly 28 million USD, up 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.

The average price of Vietnamese pangasius exports to Brazil in February 2024 witnessed the lowest level in the last 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.

Although prices continue to decline, the volume of pangasius exports to this market shows the opposite trend. QI/2024, the volume of pangasius exports to Brazil has 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.

- Sources: VASEP -