The US is Vietnam's second-largest market for pangasius fish.

Cumulative pangasius exports to the US in the first half of this year reached nearly $160 million, a 14% increase compared to the same period last year. April recorded the highest export value since the beginning of the year, reaching nearly $38 million, a 34% increase year-on-year.

In June 2024, the US imported over $26 million worth of frozen pangasius fillets from Vietnam, a 20% increase compared to June 2023. In the first half of this year, the market consumed over $156 million worth of this product, a 13% increase year-on-year, accounting for 98% of total imports. Some Vietnamese pangasius products favored by US consumers include: frozen pangasius fillets; frozen pangasius fillets/slices; frozen breaded pangasius; puffed dried pangasius; and fried pangasius skin.

Notably, in the first six months of 2024, exports of value-added pangasius to the US also showed impressive growth, reaching nearly $2 million, an eightfold increase compared to the same period in 2023, accounting for 1% of the total. April 2024 recorded the strongest year-on-year growth, nearly 70,000 times higher, and June 2024 was the month with the highest export volume of value-added pangasius to the US since the beginning of the year, a sevenfold increase compared to June 2023.

Exports of value-added pangasius to the US show impressive growth.

The US is the second largest market for pangasius after China and Hong Kong (China). Following the growth momentum in the first quarter of 2024, orders increased significantly in the second quarter of 2024. Along with the decreasing inventory levels in the US market from 2023, the average export price of pangasius to the US is also gradually recovering.

The average export price of pangasius to the US in the first half of this year has shown a gradual upward trend month by month. In June 2024, the average export price of Vietnamese pangasius to the US was $2.99/kg – the highest level since the beginning of 2024.

Consumers in the US are increasingly demanding whitefish products, especially pangasius from Vietnam. Pangasius exports to the US in the first six months of this year showed promising signs after a continuous decline in 2023. Furthermore, the decreasing supply of whitefish to the US, amidst a shortage of other whitefish products such as tilapia, is also a positive sign for Vietnamese pangasius exports to the US market.