The prices of pangasius fingerlings and raw pangasius in ponds fell in March, following steady increases in the first two months of this year.
Due to increasing demand for the Lunar New Year, the ex-farm's pangasius price went up in January 2024. After the extended holiday season in February 2024, concerns about a supply shortfall led to an increase in the cost of fish and pangasius fingerlings at the farm.
Prices at the farm for pangasius of 800-1,200gr small size climbed by 4% in January 2024, while prices for sizes of 1,200g and larger increased by 7%.
In response to an increase in the cost of raw fish at the farm following the Lunar New Year vacation, which raised demand for fingerlings, the price of pangasius fingerlings continued to rise by 2% in February 2024. By the end of February 2024, there was still a shortage of pangasius fingerlings due to a high stocking loss rate.
In March 2024, there were positive signs in the exports of pangasius to various markets. Both export prices and export volumes increased slightly compared to the previous two months. However, the supply of raw pangasius is currently low, due to the prolonged low prices and the slow recovery of export turnover. Many farmers are hesitant to expand their pangasius farming area.
In addition, there are fewer fingerlings available due to illnesses and unfavorable weather. Depending on the amount of the crop, these factors have led the price of pangasius at the farm to drop by 5.5% - 9.3%.
In the Chinese market, pangasius size bigger than 1 kg, 1.2 kg, and more are frequently more in demand. The price of pangasius in these sizes fell to below 30,000 VND/kg in week 8 of 2024 (February 19–25, 2024), the lowest since early 2023.
The export price of pangasius, however, returned to its January 2024 level in March 2024 following a decline in the price of fingerlings. Pangasius of size 800g–1kg are frequently processed and sold to the US and EU as frozen fillets. Larger pangasius are typically preferred by US consumers among them; the export price is 28,695 VND/kg, the same as it was at the start of the year. In addition, compared to the same time last year, the price of pangasius weighing 800g to 1kg dropped by almost 2,000 VND/kg.
As Vietnam observed the Lunar New Year holiday in February 2024, the harvest yield of pangasius fell by 43% to 72,000 tons from January 2024. For pangasius harvesting, January is also a good month. The price of pangasius fingerlings fell to 37,780 VND/kg for the size of 30-pcs/kg in week 8 of 2024 (February 19–25, 2024), which was the highest price since 2023.
However, in March 2024, the price dropped by 27% to 27,585 VND/kg, which is the same as it was at the end of 2023. The primary cause is the decline in the selling price of raw fish, which has caused companies and farmers to have less demand for fingerlings. The majority of other input expenses have increased significantly since last year, and the farm's March 2024 price drop also resulted in lower profits.
According to data from General Department of Vietnam customs, in the first half of March 2024, Vietnam's pangasius exports reached a value of 74 million USD, down 18% compared to the same period. The accumulated pangasius exports value by March 15, 2024 slightly decreased by 0.05% to reach over 329 million USD.
Pangasius prices are expected to recover this year due to stronger demand from China, the EU and some other major markets. However, the costs related to input materials are always a big problem for fish farmers.
In January 2025, Vietnam's shrimp exports to the UK reached over 16 million USD, an 8% increase compared to the same period last year. The UK is the sixth-largest individual market for Vietnam’s shrimp imports, accounting for 5.5% of the total shrimp exports to various markets. Shrimp also holds the largest share (70%) in Vietnam’s total seafood exports to the UK.
Nguyễn Đức Bình, vice director of Quảng Ngãi Province's Department of Agriculture and Rural Development, said that 4,259 out of 5,194 fishing boats (82 per cent) had registered for operations at sea.
(seafood.vasep.com.vn) The first two months of 2025 recorded positive signals in Vietnam's seafood export activities, with total revenue reaching USD 1.423 billion, growing 18.2% compared to the same period in 2024. In February 2025, the export value hit USD 655.197 million, showing an impressive growth of 42.6%.
(seafood.vasep.com.vn) Kiên Giang Province, home to over 13,000 fishing vessels, is intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing. Faced with challenges from offshore fishing, many vessels have shifted to near-shore fishing using destructive methods, severely damaging marine ecosystems.
(seafood.vasep.com.vn) Vinh Hoan Corporation (HOSE: VHC) continues to solidify its position as the leader in Vietnam's pangasius export industry with impressive business results in 2024 and positive prospects for 2025. Factors supporting growth, such as recovering demand, improved selling prices, and favorable international trade policies, make Vinh Hoan one of the top stocks to watch in investment portfolios for 2025.
Amid global trade uncertainties, Việt Nam is prioritising compliance with international market requirements to maintain and expand its agricultural exports.
On February 26, 2025, VinFast and the Vietnam Association of Seafood Exporters and Producers (VASEP) signed a comprehensive cooperation agreement to strongly promote green transformation goals. The collaboration between the two parties will contribute to the realization of the country’s sustainable development goals and help elevate the Vietnamese brand on the international market.
(seafood.vasep.com.vn) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
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