Vietnam’s pangasius industry is poised for a promising outlook in 2025, driven by rising export demand. According to a Rabobank report, pangasius is among the fastest-growing seafood species, with global production projected to increase by 7% year-over-year, reaffirming Vietnam's position as the world's largest producer.
As the industry's leading enterprise, Vinh Hoan Corporation (VHC) holds a distinct competitive advantage, demonstrated by its robust growth in revenue, profitability, and high profit margins.
In 2024, Vietnam’s pangasius exports surpassed USD 2 billion, marking a 10% increase from the previous year and contributing 20% to the country’s total seafood export value. Projections indicate that pangasius exports will continue to grow by 5-10% in 2025, bolstered by its superior advantages over other whitefish competitors from Russia and China.
The U.S. remains Vietnam’s most critical export market for pangasius, with export value reaching USD 345 million in 2024, a 27% increase year-over-year. VHC stands to benefit significantly from higher tariffs imposed by the U.S. government on Chinese tilapia.
Notably, VHC became the only Vietnamese company to be exempted from U.S. tariffs following a bilateral agreement between Vietnam’s Ministry of Industry and Trade and the United States Trade Representative (USTR) in January 2025. This decision further strengthens VHC’s foothold in this key market.
A 26% increase in fishmeal and fish oil supply in 2024 has helped reduce feed costs, creating a significant advantage for companies with integrated farming operations like VHC. Simultaneously, rising fingerling prices due to limited supply have enabled exporters to adjust selling prices, boosting profitability.
VHC closed 2024 with a revenue of VND 12.535 trillion, reflecting a 25% growth, while post-tax profit reached VND 1.311 trillion, up 34% from the previous year.
The domestic market has also emerged as a key growth driver, surpassing the U.S. to become VHC’s largest market in December 2024.
According to Vietstock’s analysis, VHC’s fair stock value is estimated at VND 77,603 per share. With its strong market position and high profitability, VHC remains a highly promising investment in the pangasius sector.
