Vietnamese pangasius becomes leading option for Brazilian consumers

Statistics indicate that Vietnamese pangasius exports to Brazil by mid-September soared by 26% year on year to reach more than US$81 million.

Most notably, Brazil spent US$5 million on importing the Vietnamese fish in the first half of September, up 3% year on year, making it the third largest importer of Vietnamese pangasius after China and the United States. Indeed, the South American market mainly consumes frozen pangasius fillet products from Vietnam.

The International Trade Center reports that Brazil mostly imported frozen pangasius fillets coded HS 030462. The Jan-August, 2024 period saw Brazil purchase frozen pangasius fillets worth nearly US$86 million, up 54% year on year.

Vietnam is the largest supplier of white-fleshed fish and is also the sole provider of frozen pangasius fillets to the Brazilian market.

Insiders say Vietnamese pangasius export prices are expected to recover and gradually increase, while pangasius exports are anticipated to reach US$1.8 billion this year, up 6% compared to 2023.