Pangasius exports focus on expanding to CPTPP, Middle East

Workers at a processing line of a Vinh Hoan plant. (Photo: vasep.com.vn)

The push into these two regions, according to the Vietnam Association of Seafood Exporters and Producers (VASEP), is expected to continue its upward trend.

Pangasius exports to the CPTPP reached 305 million USD in the first 10 months of this year, up 36% year-on-year, accounting for 17% of total pangasius exports.

Meanwhile, exports to the EU reached 149 million USD, a 3% increase compared to the same period last year.

“If the industry takes full advantage of tariff preferences and market diversification, the pangasius sector has the opportunity to maintain its recovery and achieve sustainable growth in 2026,” VASEP stated.

Vietnam’s pangasius exports reached 217 million USD last month, marking an 8% increase year-on-year.

The cumulative export value surpassed 1.8 billion USD for the first 10 months, up 9% compared to the same period last year.

Frozen pangasius fillet exports (HS code 0304) reached nearly 1.5 billion USD in the first 10 months of this year, an 11% growth compared to last year.

Frozen, dried, and whole pangasius exports (excluding HS code 0304) reached 315 million USD, up just 0.1%.

Notably, processed pangasius products reached 44 million USD, a growth of 19% compared to the same period, accounting for 2.4% of the total export value.

VASEP assessed that, after a slowdown in Q3, Vietnam’s pangasius exports showed positive signals in some major markets last month, while others remained stagnant due to stockpiles and the holiday import cycle.

Specifically, exports to mainland China and Hong Kong (China) reached 73 million USD, up 19% over last year.

After stagnating in September, this market resumed its growth, indicating a clear recovery in demand from China, especially in the year-end period, according to VASEP.

For the US, October export value reached 29 million USD, down 17% year-on-year. In Brazil, after a decrease in September, exports turned around and grew slightly last month, reaching 15 million USD.

Meanwhile, the UK market continued its downward trend, dropping 33% compared to the same period, with October export value at 4 million USD.

VASEP forecasted that some major markets might continue to decline in Q4 as demand had not fully recovered.

The most important driving force for the end of the year and into next year was the POR20 results in the US, which would allow businesses to benefit from a 0% anti-dumping duty, significantly improving the confidence of US importers, it said.

However, the 20% reciprocal tariff still impacts profit margins, requiring businesses to continue expanding into other markets.

The 12 member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom and Vietnam. These countries form one of the world's largest free trade agreements, accounting for approximately 15% of global GDP./.

VNA

Source: https://en.vietnamplus.vn/pangasius-exports-focus-on-expanding-to-cptpp-middle-east-post332769.vnp