Photo: VASEP/FIS

China and U.S. Demand Drive Vietnam's Pangasius Export Growth

VIET NAM
Wednesday, April 30, 2025, 07:00 (GMT + 9)

According to Vietnam Customs, Vietnam’s pangasius exports reached USD 182 million in March 2025—up 21% from the previous month and 16% higher than the same period last year.

Demand from China and the United States—two of Vietnam's key markets—continues to play a pivotal role in boosting pangasius exports globally, according to Ms. Thu Hang, Editor at the Vietnam Association of Seafood Exporters and Producers (VASEP).

The temporary 90-day suspension of a proposed 46% retaliatory tariff on Vietnamese goods has given exporters valuable time to ship to the U.S. and seek alternative markets.

Currently, the export price of pangasius to the U.S. is approximately USD 3.40/kg. Should the 46% tariff be enacted, the price could rise to around USD 5.10/kg, making Vietnamese pangasius less competitive against other white fish options. This scenario presents potential financial strain for exporters, who may need to reevaluate their market strategy or reduce their U.S. export volumes to mitigate losses.

Export volumes of all pangasius products surged in March 2025—from just over 55,000 tons in February to nearly 79,000 tons—a year-on-year increase of 23%.

Most major markets posted growth in March compared to the previous month:

We apologize for any writing errors. The image was generated automatically using AI

This strong growth was partially attributed to the end of the long Lunar New Year holiday, which had dampened activity in the first two months of the year. Additionally, demand from China picked up notably in late March, spurred by a decline in raw material prices.

Looking ahead to April, demand for raw pangasius may soften among U.S.-focused exporters due to ongoing tariff uncertainties. However, the Chinese and Hong Kong markets are showing signs of improving supply conditions, which could support continued overall demand.

Click on the image to enlarge it. Source: VASEP

The average export price for pangasius products rose by 2% in March, reaching USD 2.28/kg.

China and Hong Kong remained the top destinations for Vietnamese pangasius in March 2025, importing over 21,000 tons—rebounding from a 12-month low in February. However, the average export price to China dipped by 4.2% to USD 2.04/kg, following six months of consecutive increases. Total pangasius export value to China reached USD 38 million in March, a 6% increase year-on-year.

By the end of Q1 2025, China and the U.S. continued to lead as the largest importers of Vietnamese pangasius, with frozen fillets being the dominant product. Alongside tariff considerations and temporary exemptions, evolving consumer demand in both countries is shaping the retail landscape. Familiarity with Vietnamese white fish and favorable pricing through tariff relief and free trade agreements (FTAs) have the potential to drive consumer purchases and boost import volumes.

Vietnam is expected to finalize a tax agreement with the United States and pursue further negotiations to upgrade the ASEAN–China Free Trade Agreement to version 3.0 (ACFTA), unlocking new trade and economic opportunities across the region.

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