Vietnam takes the leading supplier of frozen fish fillets to Malaysia

Malaysia was also the third largest importer of Vietnam pangasius among ASEAN markets. To 15^th October, pangasius export to this destination reached US$17.1 million, a rise of 2.6 percent over the same period of 2011.

Malaysia has now 28 million of people and the market tends to increase seafood import to satisfy rising domestic consumption demand.

This year, South East Asian countries are under pressures of global economic crisis, but Malaysia is seen as a stable market. Its import of seafood products continues to grow in the coming time.

Crustaceans (HS code 0306) were the main import items of Malaysia. This is followed by frozen fish (HS code 0303), fresh fish (HS code 0302), and frozen fish fillets (HS code 0304). Frozen fish fillets just took the fourth largest part in seafood import structure of the country, but getting the fastest growth rate during the period of 2005 – 2012.

According to statistics from International Trade Center (ITC), Malaysia bought US$862.1 million of all fish and seafood products in 2011. In which, China was the biggest supplier. Imports from Vietnam valued at US$ 45.3 million, higher than that in almost every year since 2004. In 2007, Vietnamese exporters earned US$48.8 million from fish sales to this country.

Vietnam is now Malaysia’s fourth provider of seafood products, but it occupies the first place among suppliers of frozen fish fillets to the market. In 2011, shipment of these items brought back US$26.7 million for the country.

Beside imported fish, Malaysia also focuses on developing local fish aquaculture. Malaysia aims to reach 80,000 MT of farmed-fish production during 5 years to respond to domestic demand and export. So that, the country can double seafood export and compete with other producing countries in ASEAN like Thailand, the Philippines, Indonesia and Vietnam.