Pangasius butterfly cut products accounted for only 18% of pangasius imports into China in the first 5 months of 2022, but this year, this figure is up to 31%.
However, the average import price of pangasius butterfly cut products into this market in the first 5 months of 2023 was 19% lower than the same period last year, reaching 1.94USD/kg. Meanwhile, the price of frozen pangasius fillets imported into China was also 15% lower than the same period last year, reaching 2.13 USD/kg.
Large inventories, falling import prices along with a slow recovery in demand are the main factors causing decline in pangasius exports to this market. According to Vietnam Customs statistics, in the first 5 months of 2023, pangasius exports to China decreased by 39% to 217 million USD.
Statistics from China Customs show that in the first 5 months of 2023, China imported nearly 137 thousand tons of pangasius, 16.5% higher than the same period last year
Localities that import the most frozen pangasius fillets include Guangdong, Shandong, Tianjin, Beijing, Shanghai, and Zhanjiang, accounting for 86% of China's import volume. Guangdong province alone accounts for 35%, while Shandong accounts for 15%. Localities that mostly import pangasius butterfly cuts are Guangdong (accounting for 52%), Shandong (15%), Shanghai (14%), and Hunan (8%). In May 2023, pangasius imports into China reached 24.6 thousand tons, worth nearly 50 million USD, which is a decrease of 27% and 41% respectively compared to the same period last year.
Three years of implementing coronavirus control measures have severely weakened the spending power of many Chinese households. Economic uncertainty has hit China's urban middle class amid falling wages and job cuts in sectors ranging from technology to financial services. The unemployment caused by these circumstances has affected spending by young people, who constitute China's most active consumer demographic, resulting in a 20% unemployment rate within this group.
In this context, the Chinese market will need more time to recover, opening new and brighter opportunities for imported products, including seafood and pangasius. Nevertheless, import demand in this market is expected to improve in the second half of the year as consumers will gradually adapt to the new post-Covid context.
Compiled by Thuy Linh
(vasep.com.vn) Vietnam’s tuna exports sustained their upward trajectory in August 2026, though the pace remained modest at just 2%. The month saw divergent trends across key markets: the US maintained its leading position, Japan and Canada improved, Russia surged and the EU continued to experience a steep downturn. These developments suggest that exporters are entering the final months of the year amid a market environment marked by greater uncertainty.
(vasep.com.vn) Vietnam’s shrimp exports reached $3.3 billion in the first eight months of 2026, up 12% year on year. However, growth momentum is moderating and market divergece is becoming more pronounced, while the US and EU continue to present significant challenges. The latest insights from the Global shrimp forum 2026 (GSF 2026), held in early September, also indicate that the final months of the year will remain highly competitive as global supply continues to expand and buyers place greater emphasis on quality, product specifications, supply consistency and the ability to meet market-specific demand.
(vasep.com.vn) Vietnam’s pangasius exports continued to grow in August 2026, bringing total export value in the first eight months of the year to US$1.5 billion, up 10% year-on-year. August exports alone reached US$205 million, up 6%. However, market performance has become increasingly divergent, with China and Brazil posting positive growth while the U.S. continued to record a sharp decline.
(vasep.com.vn) Vietnam’s seafood exports reached US$1.14 billion in August 2026, up 6.4% year on year, bringing the total for the first eight months to more than US$8.0 billion, an increase of 11.9%. Monthly export value remained above US$1 billion, but August growth was only around half the rate recorded cumulatively through the first eight months. This indicates that the eight-month result was supported significantly by stronger performance in earlier months, while market conditions are entering a less predictable period.
(seafood.vasep.com.vn) Pangasius is attracting growing interest from Japanese seafood companies as prices of many traditional whitefish species remain high and supply becomes increasingly volatile. Notably, seafood group Kyokuyo has recently continued to feature pangasius among its priority products, highlighting its competitive pricing and stable supply.
(seafood.vasep.com.vn) As Vietnam’s tilapia industry searches for new growth opportunities, venturing into brackish-water aquaculture could unlock a formidable competitive moat. Bypassing the volume-and-price bloodbath against established global heavyweights, Vietnam could differentiate itself through high-quality tilapia products tailored to specific farming conditions and value-added market segments.
(seafood.vasep.com.vn) 2026 is rapidly shaping up to be a formidable stress test for Vietnamese pangasius exports to the United States. While exports to alternative markets maintain a resilient growth trajectory, the U.S market has declined significantly. In the first eight months of the year, pangasius exports to the U.S fell by nearly 14% year-on-year, with August alone recording a decline of more than 50%. The trend shows that difficulties in the U.S. market are not driven solely by weak consumer demand, but also by multiple layers of trade barriers that are intensifying simultaneously, particularly additional import tariffs, anti-dumping duties and growing protectionism for the domestic catfish industry.
(vasep.com.vn) Vietnam’s pangasius exports to Japan are showing positive signals in 2026, indicating that the market is opening up greater opportunities for pangasius products, particularly processed and value-added products. In the first seven months of 2026, Vietnam’s pangasius exports to Japan reached US$31 million, up 20% year-on-year. In July alone, export value reached approximately US$5 million, up 30%.
On July 22, 2026, the Government issued Decree No. 292/2026/ND-CP detailing certain articles and providing measures for the organization and implementation of the Law on Foreign Trade Management. The Decree takes effect on September 5, 2026, replacing Decree No. 69/2018/ND-CP.
(vasep.com.vn) Vietnamese pangasius producer Vinh Hoan has won the top prize at the 2026 Seafood Excellence Asia Awards for its Cured Panga Croquette, highlighting the growing potential of value-added pangasius products in international markets.
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