Headway JSC To See Sharp Increase In Pangasius Export To Brazil Market In Early 2024

(Brazil is the country with the highest pangasius export output at Headway. Image source: Industry and Trade Magazine)

In the first 2 months of 2024, Headway JSC recorded a total export volume of pangasius of 446 TEUs to the Brazilian market, down 2.2% compared to 2022, strong growth of 47.6% compared to 2023.

According to a report by the VASEP Association, the total cumulative export of Vietnamese pangasius as of February 2024 to other markets reached USD 255 million, an increase of 7% over the same period last year.

The downward trend is seen in the pangasius consumption market in China and Hong Kong with USD 75 million (down 4%), EU with USD 21 million (down 18%). Meanwhile, the Brazilian market reached USD 20 million but the growth rate exceeded 42% compared to the same period in 2023.

(Headway's main pangasius export markets in the first 2 months of 2024)

In Headway's rankings, Brazil holds the highest market share of pangasius consumption at 34% compared to the remaining countries. Next is the Chinese market at 26%, the EU and the U.A.E account for a modest proportion of 11% and 4% respectively.

Encountering the general downward trend of most markets, Brazil is always among the top countries importing Vietnamese pangasius with positive growth. It can be said that pangasius is the main source, accounting for 90% of Brazilian seafood imported from Vietnam.

Currently, in the face of world turmoil and conflicts in the Red Sea, Headway always strives to implement innovative strategies, minimize global challenges, maintain competitive advantage and protect highest benefits of our customers.