According to the Vietnam Association of Seafood Exporters and Producers (VASEP), pangasius export turnover in the past 11 months reached 2.3 billion USD, up 77% over the same period in 2021.
In a report on the pangasius industry, VCBS believed that high global inflation caused consumers to change their buying behavior, shifting from high-end products to more affordable ones, typically like white fish.
The prolonged Russia-Ukraine tensions caused a shortage of pollock from Russia and paved the way for Vietnamese pangasius to have the opportunity to access foreign markets.
Besides, holidays such as Thanksgiving, Christmas and New Year also boost the demand for fish in Western countries. In addition, the reopening of China brings many opportunities for Vietnamese pangasius businesses and seafood businesses as well.
Analyzing key markets, VCBS believed that the US and China are very promising destinations for Vietnamese pangasius exporters.
Specifically, according to the results of the 17th anti-dumping tax (POR17) of the US Department of Commerce, NAVICO (Code: ANV) enjoyed a tax rate of 0%, which made the company decide to return to this market.
By the end of September 2022, NAVICO had exported 11 containers to the US market, doubling the initial target of 5 containers. NAVICO is also planning that in the next 2-3 years, the company’s export volume to the US market will grow by 5-7%.
NAVICO was also gradually recovering its export volume to China, the enterprise has also exported 80 more containers to this market. Besides exporting to Shanghai, NAVICO had found some new partners in Beijing and Guangzhou. According to the plan, export volume in the Chinese market will grow by 35-45% in the coming time.
VCBS expects NAVICO's pangasius revenue for 2022 and 2023 to grow by 22% and 9% over the same period, bringing profits of VND642 billion and VND693 billion, respectively.
Similar to NAVICO, Vinh Hoan Corp (Code: VHC) also received a preferential tax rate of 0% for many years. In the first 10 months of 2022, Vinh Hoan maintained a stable market share in the US markets, revenue increased by 75% benefiting from the shortage of pollock supply from Russia, change in buying behavior due to high inflation, and the appreciation of USD.
In addition, China's Zero COVID policy has caused the country's production to stall, creating opportunities for some Vietnamese enterprises to increase exports, to offset the needs of the billion-people market. In the first 10 months of 2022, Vinh Hoan's export revenue in China increased slightly by 5%.
However, Vinh Hoan will continue to focus on the US market more because the Chinese market prefers cheap products, which are not suitable for Vinh Hoan's high-quality product line, which meets the strict standards of the US market.
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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