In November 2023, Brazil purchased the largest quantity of Vietnamese pangasius since the start of the year.
Brazil is the third single market consuming the most Vietnamese pangasius. Vietnam has remained a supplier of white fish (mainly pangasius) to Brazil for many years.
In November 2023, the export value of Vietnamese pangasius to Brazil reached nearly 14 million USD, an increase of 81% over the same period in 2022. November 2023 is the month when exports of pangasius products to this Latin American country reached high prices. highest value, and highest growth since February 2022. This is also the 5th consecutive month in 2023 that this market recorded positive growth in pangasius imports. In the first 11 months of 2023, Brazil consumed more than 97 million USD of pangasius from Vietnam, an increase of 11% over the same period in 2022. Unlike many other markets, this Latin American country only imports frozen pangasius fillet products from Vietnam.
According to the latest data, the average price of Vietnamese pangasius exports to Brazil in October 2023 increased slightly compared to the previous month, but still remained below 3 USD/kg, continuing to decrease 16% over the same period. 2023 can be considered a difficult year for the entire pangasius industry when most export prices to markets decrease. Brazil is no exception. Although prices have decreased, compared to mid-2019 to early 2023, this is still an acceptable price. On the contrary, the volume of Vietnamese pangasius exports to this country has tended to increase continuously since June 2023. Thanks to that, export value still grew positively, despite the continuous decline in average FOB export price. In October 2023, Vietnam exported nearly 3,000 tons of pangasius to Brazil. Demand for Vietnamese pangasius in Brazil remains stable and somewhat increases compared to other markets in the context of a general decline.
According to data from the International Trade Center (ITC), Vietnam is still the leading supplier of white fish (mainly pangasius) to Brazil. However, Vietnamese pangasius is gradually having to compete with not only countries that are starting to raise this fish, but also with some other types of white meat fish such as hake (HS code 030474) or cod (HS code 030363).
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