With promising growth in 2024 and positive results in the first month of 2025, the Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that 2025 will be a breakthrough year for Vietnam’s pangasius (tra fish)exports, setting new records in both value and volume.
Rising Prices and Strong Export Momentum
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According to VASEP, the farm-gate price of pangasius in Vietnam has surged sharply in early 2025 due to limited supply, reaching its highest level in three years.
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Fish weighing over 1.2 kg are now priced at VND 32,440/kg, the highest since 2022.
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Fish around 1 kg are selling for VND 30,000–31,000/kg.
Large-sized fish are in high demand from China, while smaller sizes are mainly exported to the EU and the United States.
By the end of December 2024, fish weighing 800g–1kg accounted for 37% of total stocks, whereas larger fish represented only 5%, driving the price surge.
Moreover, cold weather slowed fish growth, and seed prices hit VND 46,300/kg in January 2025—the highest since February 2023.
These supply constraints, coupled with robust demand from China during the Lunar New Year season, helped boost overall export revenue.
Export Growth Across Key Markets
Vietnam’s pangasius exports in January 2025 reached an estimated USD 209 million, up 27% year-on-year.
In 2024, total exports hit USD 2 billion, a 9% increase compared to 2023, accounting for 20% of Vietnam’s total seafood export turnover.
Key Markets:
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China & Hong Kong: Over USD 580 million, up 1.3% year-on-year.
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United States: Nearly USD 345 million in 2024, up 27%, with December exports alone increasing 40% year-on-year.
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CPTPP bloc: Up 10% to USD 274 million, led by Mexico (USD 76 million, +4%).
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European Union: December exports reached USD 16 million, up 18%. Top importers include the Netherlands, Germany, Belgium, and Spain, though exports to Germany fell slightly (-2%) to USD 37 million.
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Other markets: Strong gains in Brazil (+15%), Thailand (+4%), and Colombia (+36%).
Product Structure and Export Performance
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Frozen pangasius fillets remain the core export product, generating USD 1.6 billion in 2024.
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Processed pangasius products grew 45%, reaching USD 43 million.
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Dried and frozen whole/cut pangasius products earned USD 357 million, up 23% year-on-year.
Major Policy Breakthrough: End of U.S. Anti-Dumping Duties
A key highlight for 2025 is the bilateral agreement signed on January 17, 2025, between Vietnam and the United States, officially ending the anti-dumping duties on Vietnamese pangasius fillets.
This agreement concludes the WTO dispute case DS536, marking a significant step forward in Vietnam–U.S. trade relations under the Comprehensive Strategic Partnership framework.
Under the agreement, Vinh Hoan Corporation, Vietnam’s largest pangasius exporter to the U.S., was excluded from the anti-dumping scope, allowing for stable and sustainable export expansion to the U.S. market.
The dispute originated in 2018, and after years of WTO proceedings, both sides opted for a bilateral settlement, demonstrating the U.S.’s goodwill toward enhancing trade cooperation with Vietnam.
Long-Term Outlook and Strategic Recommendations
Over the past decade, Vietnam’s pangasius exports to the U.S. have seen strong fluctuations — peaking in 2016 (+23%), then declining sharply during 2018–2020 due to tariffs and trade tensions.
Now, with trade barriers lifted, 2025 is expected to bring renewed growth momentum.
According to VASEP, as the global economy recovers and consumer demand rebounds, Vietnam’s pangasius sector is well-positioned to thrive.
However, challenges remain — particularly in the quality and genetics of seed fish, which are vital for productivity and sustainability.
VASEP’s Key Recommendations:
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Accelerate R&D on high-quality fish strains with traits such as disease resistance, higher fillet yield, and salinity tolerance.
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Certify and standardize hatchery operations in line with Vietnam’s Fisheries Law.
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Implement the three-tier seed production program for high-quality pangasius breeding in the Mekong Delta region.
Conclusion
With rising global prices, strong demand from major markets, and new trade policy advantages, 2025 is shaping up to be a landmark year for Vietnam’s pangasius export industry.
If exporters can maintain product quality, strengthen supply chain sustainability, and capitalize on new trade openings, Vietnam’s pangasius could achieve record-breaking results on the world stage.