According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s catfish exports in the third quarter were estimated at 544 million USD, up nearly 14% over the same period last year. In the first 9 months of the year, this billion-dollar fish has brought in more than 1.46 billion USD, up 8% over the same period in 2023.
In particular, there was a breakthrough increase of 42% in the processed catfish group, a 24% increase in frozen whole catfish, and a slight 4% increase in frozen fillet catfish.
Regarding the key export markets, the export turnover of catfish by September 15, 2024, to all markets still recorded growth because the export turnover in the previous months was quite positive.
The main markets with increased imports of catfish include the US (240 million USD, up 23%), Brazil (81 million USD, up 26%), and Thailand (43 million USD, up 9%).
Catfish exports have brought in 1.5 billion USD to Vietnam.
Particularly, the Chinese and Hong Kong markets witnessed a decline compared to the last year.
In the first half of September alone, Mexico continued to lead the CPTPP market in terms of Vietnam’s catfish consumption with a value of 3 million USD, up 25% over the same period last year. Catfish exports to Mexico by September 15, 2024, reached 55 million USD, up 19% over the same period last year.
Catfish exports to Canada ranked second with 2 million USD in the first half of September 2024, up 49% over the same period last year. It reached more than 28 million USD by the end of September 15, up 13% over the same period in 2023.
After 5 years since its entry into force in January 2019, the CPTPP has played an important role in promoting Vietnam’s trade with the markets of the Americas, especially the member markets including Canada, Mexico, Chile, and Peru. Canada, Mexico, and Peru are the first markets to have FTA relations with Vietnam.
Vietnam is the world’s largest catfish producer and exporter. Its products are popular in many international markets with good taste and competitive price. According to the VASEP, by the end of August, exploited seafood reached 2.644 million tons, up 0.9% over the same period last year. Of which, catfish output was 1.119 million tons.
Catfish is processed into many different products, meeting the needs of many customers. The price of catfish is often lower than that of other types of whitefish. Therefore, it helps to attract more customers, especially in new markets. Moreover, Vietnam has an advantageous geographical location, which reduces transportation costs and shortens delivery time.
Vietnamese catfish are exported to nearly 140 countries around the world. Experts predict that catfish exports will continue to achieve positive results until the end of 2024, as the markets are gradually preparing supplies to serve the needs of consumers during the festival at the end of the year.
The preparation of goods to meet market demand will help businesses not waste potential and opportunities to expand market share for these products.