Brazil is emerging as a highly promising market for Vietnamese seafood, with export turnover reaching nearly USD 130 million in 2024, mainly driven by pangasius (basa fish). Strong consumer demand, limited domestic supply, and Brazil’s relaxed import standards have created a golden opportunity for Vietnam to expand its seafood exports.
By leveraging competitive prices, bilateral trade cooperation, and potential tariff reductions through MERCOSUR negotiations, Vietnam can further increase its market share in this dynamic South American country.
Brazil’s Market: High Demand and Supply Shortfall
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Brazil is the second-largest aquaculture producer in Latin America, with annual output of about 900,000 tons, 65% of which is tilapia. However, domestic aquaculture cannot fully meet the country’s diversified seafood demand—especially for salmon, cod, shrimp, and white-fish species.
Overfishing has reduced marine supplies, forcing Brazil to import USD 1.4–1.5 billion worth of seafood annually, primarily from Chile (salmon) and Vietnam (pangasius).
With a population of over 200 million and average consumption of 12 kg of seafood per person per year, demand is concentrated in coastal and urban centers such as São Paulo and Rio de Janeiro. Given Brazil’s projected GDP growth of 2.2%, seafood imports—particularly for high-value and convenience products—are expected to keep rising.
In 2024, Vietnam became Brazil’s second-largest seafood supplier, accounting for 17% of imported volume and 9% of market value. Pangasius alone contributed USD 129.3 million, up 14.5% year-on-year, making Vietnam the top exporter in the white-fish segment (38% market share)—well ahead of Argentina and Norway.
Exports are projected to reach USD 48.2 million in Q1 2025, up 72.8% from the same period last year.
Opportunities for Vietnamese Seafood in Brazil
1. Competitive Pricing and Value-Added Products
Vietnamese pangasius, known for its stable quality and affordable price, suits Brazil’s middle-income and mass consumer segments. Beyond frozen fillets, processed and ready-to-cook items such as fish balls, breaded fish, and IQF peeled shrimp align perfectly with Brazilian retail and food-service trends.
Compared with premium imports from Chile or the EU, Vietnamese seafood enjoys a clear price advantage, expanding accessibility to more consumers.
2. Relaxation of Import Standards
Brazil’s former restrictions on additives and phosphate levels posed barriers for pangasius. Recent moves to align import standards with international practices have significantly eased access.
This opens the door for deep-processed exports—for example, breaded or marinated pangasius—diversifying Vietnam’s seafood portfolio while raising export value.
3. Strengthened Bilateral Trade Cooperation
Vietnam and Brazil aim to raise two-way trade to USD 10 billion by 2025 and USD 15 billion by 2030.
As Vietnam’s largest trading partner in South America, Brazil offers a gateway for long-term market penetration. Moreover, MERCOSUR free-trade talks could lead to preferential tariffs, giving Vietnam an edge over competitors such as India and Thailand.
4. Market Diversification Strategy
Amid global trade uncertainties and tariff pressures from the U.S. and China, Brazil provides a strategic export destination to reduce dependence on traditional markets.
Currently, 26 Vietnamese enterprises—including Hung Ca, Cadovimex, Nam Viet, and Hoang Long—are actively exporting to Brazil, forming a strong foundation for deeper engagement.
Challenges to Overcome
Despite high potential, several barriers remain:
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Brazil’s ban on frozen whole-shrimp imports limits product diversification.
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The temporary suspension of tilapia imports (since February 2024) due to TiLV concerns may expand to pangasius if not carefully managed.
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Complex administrative procedures and competition from India, Ecuador, and Indonesia require Vietnamese exporters to maintain high quality and sustainability certifications such as ASC and BAP.
Recommendations for Vietnamese Exporters
To maximize opportunities, exporters should:
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Closely monitor Brazil’s import regulations, especially on phosphate and quarantine standards.
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Invest in deep processing and develop value-added convenience products such as seasoned pangasius and fish cakes.
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Engage in trade promotion through fairs, expos, and Vietnam’s Trade Office in Brazil.
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Secure sustainability certifications to meet Brazil’s strict traceability and environmental requirements.
Conclusion
Brazil is a strategic and fast-growing market for Vietnamese seafood, especially pangasius and processed products.
With competitive pricing, bilateral cooperation, and strong consumer demand, Vietnam can reinforce its global seafood leadership while diversifying export destinations.
However, success will depend on exporters’ ability to adapt to regulations, improve product quality, and embrace sustainable production—the keys to unlocking South America’s full potential.