Vietnam’s pangasius exports have increased so far in 2025, fueled by surging demand from countries in South America, the ASEAN region, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), even as shipments to China and the U.S. weakened.
Vietnam’s pangasius sales in August increased 5 percent year-over-year to USD 200 million (EUR 170.5 million). The value in the first eight months of 2025 reached USD 1.4 billion (EUR 1.2 billion), a 10 percent increase year over year, Vietnam Association of Seafood Exporters and Producers (VASEP) said.
Exports to Vietnam’s largest pangasius market – China (including Hong Kong) – however, dropped 4.1 percent in August 2025 to USD 55 million (EUR 46.9 million). That drop contributed to a 3.6 percent drop in sales through August to USD 357 million (EUR 304.4 million).
Sales to the U.S. dropped even further in August, falling 20.3 percent year over year to USD 28 million (EUR 23.9 million). However, the export value through August 2025 increased 3.7 percent year over year to USD 234 million (EUR 199.5 million) thanks to stronger volumes earlier in the year, before U.S. President Donald Trump imposed reciprocal tariffs.
At the company level, Vinh Hoan, Vietnam’s largest pangasius exporter, said its August sales to the U.S. fell 36 percent year over year to VND 271 billion (USD 10.3 million, EUR 8.7 million), while its exports to China dropped 31 percent to VND 73 billion (USD 2.8 million, EUR 2.4 million), underlining the pressure in both markets.
In contrast, exports to member countries of the CPTPP, of which Vietnam is a member, soared 47.6 percent year over year to USD 34.5 million (EUR 29.4 million) in August 2025. Sales in the eight months ending in August 2025 also jumped 35.5 percent to USD 242.1 million (EUR 206.4 million), the fastest growth among all trade blocs. Japan, Canada, Mexico, and Chile posted steady demand for frozen pangasius fillets and value-added products, supported by near-zero tariffs under the pact – along with a changing consumer trend toward convenient and safe products.
“The CPTPP, therefore, is emerging not only as a short-term boost, but also as a long-term strategic market for the pangasius industry,” VASEP said.
Adding to the industry’s momentum, Vinh Hoan’s pangasius has recently been introduced into menus at Japan’s Kura Sushi chain, marking a breakthrough in a high-standard market and signaling opportunities for brand building in premium segments, local securities firm Vietcap said.
South America has also emerged as a growth engine for Vietnam’s pangasius industry. Shipments to Brazil surged 54 percent year over year in the first eight months of 2025 to USD 118 million (EUR 100.6 million) as consumers turned to pangasius as a cheaper substitute for tilapia. Colombia also continued to import steadily, broadening Vietnam’s footprint in the region.
The CPTPP and South America are not only offsetting losses from China, but also creating opportunities for higher profits through premium orders, improved payment terms, and stronger margins, making both regions the new “wings of growth” for Vietnam’s pangasius industry, VASEP said.
Within ASEAN, exports to Thailand and the Philippines each grew 31 percent year over year in the first eight months of 2025, reaching USD 52 million (EUR 44.3 million) and USD 26 million (EUR 22.2 million), respectively, aided by geographical proximity and lower logistics costs.
Sales to the E.U. remained stable at USD 120 million (EUR 102.3 million) during January-August, up 6 percent over the same period of 2024, with Germany, the Netherlands, and Spain taking higher-value frozen pangasius fillets.
Against this backdrop, VASEP said in the coming months tightening raw fish supply could push export prices even higher in the fourth quarter, offering exporters a chance to lock in contracts during the holiday season.
Siam Canadian Vietnam Sales Manager Le Thuy Trang told SeafoodSource he agreed with VASEP, noting that current prices are already at their highest levels in three years.
VASEP data showed that pangasius farmgate prices for 0.7 to 1.0 kilogram per fish in the Mekong Delta were between VND 28,000 and VND 29,000 (USD 1.06 and USD 1.10, EUR 0.90 and EUR 0.94) per kilogram for the week ending 25 September. Similar prices a year earlier were between VND 26,500 and VND 27,000 (USD 1.0 and USD 1.02, EUR 0.85 and EUR 0.87) per kilogram.
Industry analysts share that positive outlook. Consulting firms said they expect pangasius prices to climb sharply from September through year-end, driven by peak demand during the Christmas and New Year season. The sector is already under strain from high fry mortality, rising costs, and adverse weather that have delayed restocking. Many farmers are holding back sales in hopes of better prices, while processors are set to ramp up buying once inventories thin, further tightening the market, Trang told SeafoodSource.
Signs from the two largest markets are already bearing out these forecasts, Trang said. U.S. importers that had been cautious in recent months due to tariff concerns are now stepping up purchases as stock levels run low, with stronger activity expected through the fourth quarter. Similarly, Chinese buyers have re-entered the market ahead of the Lunar New Year in February 2026, particularly for larger pangasius of 1.2 kilograms and above, pushing prices up by roughly VND 2,000 (USD 0.08, EUR 0.06) per kilogram kg compared with smaller sizes.
By contrast, the E.U. market remains challenging, where fierce competition among packers is keeping volumes flat, according to Trang.
