March 15, 2023

Vietnam's pangasius exports to Brazil drop, but average price increases

The Vietnam Association of Seafood Exporters and Producers (VASEP) said the volume of pangasius exported to Brazil in January 2023 was 1,194 tonnes, the lowest since May 2022, but the average price in that month was US$3.06 per kg, 3% higher year-on-year when it was US$2.98 per kg, Fish Information & Services reported.

There has been a significant decrease in the volume of Vietnamese pangasius exported to Brazil, down by 79% compared to the same period last year.

In January 2022, Vietnamese pangasius exports to Brazil reached a monthly record. But shipments decreased gradually to its lowest level after two years in May 2022, with only 1,100 tonnes. The exports gradually recovered in the third quarter but started to decline from November 2022, which is similar to the trend in many other markets before the impact of inflation and economic slowdown.

Vietnam's pangasius exports to Brazil surpassed US$95 million in 2022, which is a 35% increase compared to 2021, largely due to the rise in average export prices. July 2022 was the peak period for pangasius exports to Brazil, when the average price reached a record high of US$3.55 USD per kg, up 51% compared to the same period in the previous year.

As of mid-February 2023, Vietnam's pangasius exports to Brazil reached US$10.5 million, which is a 51% decrease compared to the same period last year. Despite the overall downward trend in most markets, Brazil still holds its position as the fourth largest import market for Vietnamese pangasius, accounting for nearly 7% of the total share.

In 2022, Brazil's total aquaculture imports decreased by 1% in volume but increased by 23% in value compared to 2021. The total import volume was 130,259 tonnes, worth US$897.8 million. The increase in import value was primarily due to higher prices, with imports of salmon and pangasius seeing an increase compared to the previous year.

Salmon was the top farmed fish species imported by Brazil in 2022, at 100,330 tonnes and a total import value of more than US$803 million, accounting for 91% of the total import value. The import volume of salmon remained unchanged, but the value increased by 22%. Pangasius imports into Brazil also remained stable in terms of volume, but was up by 45% in value to 28,407 tonnes, worth US$90.9 million.

-      Fish Information & Services