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
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
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