Although pangasius exports in September were still twice as high as in the same period in 2021, it was the lowest level since the beginning of the year. This trend covers all major import markets.
Inflation and currency devaluation in many import markets have reached a deep stage and have a heavy impact on middle- or low-income consumers, causing them to tighten their spendings. Inflation reduces demand for even moderately priced food items such as pangasius, which used to be affordable for the vast majority of consumers .
Even the Chinese market, which is considered to be the most optimistic destination for pangasius enterprises in the last months of the year showed signs of decrease. Vietnam’s pangasius exports to this market in September was lower than in August, despite recording a high growth of 190% over the same period last year.
In September 2022, China imported Vietnamese pangasius with a value of $49 million, significantly lower than $64 million in August. The import demand for frozen pangasius fillets and whole pangasius both declined . By the end of the third quarter of 2022, this market accounted for nearly 30% of Vietnam pangasius export value with nearly 590 million USD, up 111% over the same period last year.
In which, export of pangasius fillets accounted for 75% with 441 million USD, the rest was whole pangasius, frozen cut. Although the market's import demand is still very high and has almost returned to pre-pandemic levels, the depreciation of the Rmb to a 30-year low against the USD also has a strong impact on importers. They are also more cautious when buying from abroad.
Inflation started affecting imports of pangasius in different markets
The US and EU markets are more difficult when inflation in the US is at the highest level in the past 40 years. The price situation in the US continues to increase strongly, which will lead to the possibility that the US Federal Reserve will continue to sharply increase interest rates to control inflation and further make the dollar fluctuate strongly, affecting global trade.
Vietnam's pangasius exports to the US in September, although increased by 41%, but still lower than in August. By the end of the third quarter, Vietnam's pangasius imports to the US reached US$454 million, up 83% over the same period and accounting for 23%. In which, frozen pangasius fillets accounted for 96% with USD 437 million, value added processed pangasius accounted for 2.2% with nearly USD 10 million, the rest was frozen whole pangasius accounting for only 1.6%.
With the EU market, although there are more than two months until Christmas, the price of fish in this market has increased. Some fish that were once cheap, such as hake, are now being sold in fish shops and supermarkets at 30% higher. The reason: rampant inflation, electricity and fuel prices skyrocketed, which directly affected the cost of transporting and storing fish products. The Euro also fell to a 20-year low against the USD, further contributing to reducing the demand for fish in the EU market, including pangasius. Therefore, pangasius exports to the EU in September decreased by 3 million USD compared to August. By the end of September 2022, this market imported Vietnamese pangasius with a value of nearly 160 million USD, double that of the same period in the same period last year.
Due to the Russia-Ukraine conflict, the UK is also struggling with price inflation and soaring energy costs, so the UK economy faces the risk of a prolonged recession. The Pound also fell to its lowest level since 1985. Vietnam's pangasius exports to the UK in the first 9 months of the year reached nearly 50 million USD, up 30% over the same period, mainly thanks to a strong recovery in the second quarter, but in the third quarter, pangasius imports were lower than in the previous months. Although pangasius exports in the last quarter of the year may not be as positive as in the first months of the year, it is forecasted that pangasius exports in 2022 will still be able to reach about $ 2.5 billion, a remarkable record of the Vietnam’s pangasius industry.
Compiled by Thuy Linh
(seafood.vasep.com.vn) In 2025, Vietnam’s tuna exports to Spain increased by 13% compared to 2024. This growth trend has continued into the first two months of 2026. According to Vietnam Customs statistics, export turnover to this market reached nearly USD 3 million in January–February 2026, up 101% year-on-year and significantly higher than the same period in 2024. This development indicates that Spain is once again becoming a notable destination for Vietnamese tuna amid strong demand for tuna raw materials and products in Europe.
(seafood.vasep.com.vn) The 2026 brackish water shrimp farming season in the Mekong Delta has started earlier than usual, mainly driven by positive market signals, as shrimp prices in 2025 remained high and supply was limited. Many enterprises and farms in Cần Thơ, Cà Mau, and Vĩnh Long have proactively stocked early to seize opportunities. By early 2026, stocking areas in many localities had reached a high proportion of planned targets, with intensive and high-tech farming models expanding rapidly.
(vasep.com.vn) Vietnam’s tilapia exports to the United States recorded remarkable growth in 2025, opening up major opportunities while also presenting considerable challenges. The U.S. remains the largest importer of Vietnamese tilapia fillets, with export turnover reaching USD 40 million—an increase of up to 499% compared to 2024. This impressive growth reflects strong demand in the U.S. market, as supply from competing countries such as China has been constrained by tariffs and rising production costs.
(seafood.vasep.com.vn) Pangasius remains a strategic export commodity in Vietnam’s seafood sector. Entering 2026, the industry faces a strong need to transition from volume-based growth to a value-driven development model, with a focus on quality, food safety, and sustainability.
(seafood.vasep.com.vn) Following damage caused by Storm No. 13 in late 2025, brackish water shrimp farming in Gia Lai is being rapidly restored. In key farming areas such as Tuy Phước and Tuy Phước Đông, farmers are focusing on rehabilitating ponds, repairing infrastructure, and treating the environment in preparation for the 2026 crop.
(seafood.vasep.com) Facing the decline in fishery resources, Vietnam is accelerating livelihood transitions for fishermen to reduce fishing pressure and move toward sustainable development. Marine fish stocks have dropped significantly from 4.82 million tons in 2000–2005 to 3.95 million tons in 2016–2020.
(seafood.vasep.com.vn) Vietnam’s shrimp industry is entering a period of strong transformation with the emergence of various high-tech farming models, helping improve productivity and competitiveness. Over the past 5–10 years, farming practices have shifted from traditional methods to intensive and super-intensive systems, featuring lined ponds, environmental sensors, automated feeding, and data management.
(seafood.vasep.com.vn) With a focus on sustainable development, high-tech application, and climate change adaptation, An Giang Province aims to maintain its brackish water shrimp production in 2026 at a level equivalent to the previous year. Specifically, output is projected to reach over 155,510 tons, serving both domestic consumption and export processing, thereby sustaining the fisheries sector’s key role in the local economic structure.
(seafood.vasep.com.vn) In the Mekong Delta, key pangasius farming provinces such as An Giang, Dong Thap, and Can Tho are accelerating the transition toward a circular economy model, contributing to higher product value and reduced environmental impact. Instead of focusing solely on farming and processing, the pangasius value chain is increasingly utilizing by-products and waste streams to generate added value.
(vasep.com.vn) Vietnam’s scallop exports are entering a phase of impressive growth, as the global market undergoes significant restructuring. In 2025, scallop export value reached nearly USD 66 million, up 49% from USD 44 million in 2024. This upward momentum has continued and accelerated into early 2026, with exports totaling USD 18.1 million in the first two months alone—an increase of 166% year-on-year. This represents an exceptionally high growth rate, reflecting the rapid expansion of a relatively new product segment within Vietnam’s mollusk export portfolio.
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