(seafood.vasep.com.vn) From its first steps in 1997, the Vietnamese pangasius industry has undergone a dynamic and remarkable 25-year journey. This path reflects not only the maturation of the pangasius sector itself but also serves as a microcosm of the broader development of Vietnam’s seafood industry amid deepening global integration.
Early Years: A Modest but Promising Start
In 1997–1998, Vietnam’s pangasius industry was just taking its first steps, embarking on a journey to establish its presence in the global market. With an export value of nearly $1.7 million, equivalent to 425 tons in 1997, pangasius was a novel product—a white-fleshed, flavorful, and nutritious catfish—introduced to the world. During this period, exports primarily targeted neighboring Asian markets such as China, Hong Kong, Singapore, and Taiwan. Notably, the early years were considered a “golden era” for pricing, with average export prices ranging from $3.9 to $4.1 per kilogram.
Industrialization and Scalable Growth
Taking advantage of favorable conditions, pangasius farming in the Mekong Delta transitioned from small-scale operations to industrial production, with cultivation areas exceeding 5,000 hectares. While export turnover during the first five years (1997–2001) reached just over USD 25 million (about 7,000 tons), the following five years (2002–2006) saw a dramatic surge to nearly USD 1.5 billion with close to 600,000 tons exported. Particularly, the 2007–2011 period marked a “great leap,” with total export value reaching USD 7 billion and volume surpassing 2.9 million tons — a historic milestone that solidified Vietnam's pangasius as a prominent player in the global seafood market.
Growth Supported by VASEP
The pangasius industry’s development has been closely tied to the support of the Vietnam Association of Seafood Exporters and Producers (VASEP). From an initial membership of 70–98 companies between 1998 and 2000, VASEP has grown to over 300 member enterprises. Under this shared platform, Vietnamese-branded pangasius products have increasingly strengthened their presence in demanding markets such as China, the United States, and the European Union.
Inevitable Challenges
However, success has also brought challenges. The competitive quality and pricing of Vietnamese pangasius have raised concerns within the domestic catfish industry in the United States. As a result, Vietnamese pangasius has faced technical barriers such as anti-dumping duties, the USDA’s catfish inspection program, and negative media campaigns from certain Western markets.
Resilience Amid Adversity
Despite these challenges, Vietnam’s pangasius exports maintained impressive growth. In 2008, export revenue reached $1.4 billion for the first time, marking the start of a “billion-dollar” era that lasted over a decade. Although the 2012–2017 period saw a slight slowdown (USD 1.56–1.78 billion annually), a strong recovery was recorded in 2018–2019, with export value exceeding USD 2 billion.
The COVID-19 pandemic in 2020–2021 led to a downturn, with export value dropping to USD 1.49 billion in 2020 and USD 1.61 billion in 2021. However, the industry rebounded swiftly, achieving a record $2.4 billion in 2022, demonstrating its resilience and adaptability.
Current Challenges and Future Prospects
In 2023, global economic instability, global economic instability—driven by inflation and the Russia–Ukraine conflict—led to a significant decline in Vietnam’s pangasius exports. By mid-May 2023, export revenue reached only $842 million, a 30% drop compared to the same period in 2022. However, in May 2023, Vietnamese pangasius exports recorded a 10% growth, the first positive increase in months, signaling the beginning of a potential recovery phase.
Looking Back to Move Forward
"Proactive Adaptation
Creative Innovation
Sustainable Development"
It is the key message of the 7th General Assembly (2025–2030) of the Vietnam Association of Seafood Exporters and Producers (VASEP), highlighting the continued journey of bringing Vietnamese seafood—especially pangasius—to the global market. The 27-year journey stands as a testament to the resilience and relentless efforts of Vietnam's pangasius industry, evolving from a traditional trade into a key export sector contributing significantly to the country's seafood export value.
Challenges are inevitable, but they also present opportunities for reflection, restructuring, and renewed commitment to sustainable development. Vietnamese pangasius has established, and will continue to reinforce, its indispensable role in the global seafood supply chain.