Vietnam has set a target for pangasius export revenues, and China will be a high-growth region

       Despite Vietnam's difficulties in pangasius exports in 2023 and declining consumer demand in the market, especially in the European and Chinese markets, there will be many positive signs for the pangasius industry in 2024. Vietnam's Ministry of Agriculture and Rural Development has set a target of 1.7 million tonnes of pangasius production in 2024 and US$2 billion in export earnings. The Vietnam Association of Seafood Exporters and Producers (VASEP) said that although the share of pangasius has declined in some markets, the export of pangasius has shown more positive signals in some markets such as China, Mexico, Canada, Brazil and the United Kingdom. Vietnam's pangasius exports are estimated to reach US$1.8 billion in 2023, down 27% year-on-year. However, in the coming period, the demand for Vietnamese pangasius will remain high in many markets, especially for highly processed products.

       The United States remains one of the largest consumer markets for pangasius products in Viet Nam. Demand for Vietnamese pangasius in the EU market has also recovered, which is expected to be a bright spot for Vietnam's exports this year. China has been a traditional export market for Vietnamese pangasius and is expected to see high growth this year.