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ASEAN: A promising market for Vietnamese pangasius exports

News 08:18 15/05/2026
(vasep.com.vn) In the first quarter of 2026, Vietnam’s pangasius exports to the ASEAN bloc reached USD 44 million, up 7% compared to the same period in 2025. After falling to the lowest level of the quarter at USD 9 million in February — reflecting the seasonal slowdown in orders after the festive period — exports recovered strongly to USD 18 million in March, the highest monthly value of the quarter. This development shows that import demand for pangasius in ASEAN remains relatively stable despite short-term fluctuations.

 

Frozen fillets remain dominant while value-added products gradually strengthen their position

Frozen pangasius fillets under HS0304 continued to be the leading product category, generating USD 38 million, accounting for nearly 87% of total export value and increasing 7% year-on-year. This product line is favored across most ASEAN markets thanks to its competitive pricing, stable supply, and wide applicability in retail, foodservice, and industrial processing channels. Meanwhile, dried pangasius and other frozen products — although still maintaining certain demand in Malaysia and Thailand — recorded a slight decline of 6%, reflecting growing competition from domestic seafood supplies in these markets.

Notably, value-added pangasius products reached USD 3 million, up 11%, signaling expanding demand for convenient food products in major urban areas across the region, particularly in Thailand, Malaysia, and Singapore. Although the segment remains relatively small, it offers clear growth potential and is increasingly aligned with the consumption habits of younger, busier urban consumers in ASEAN.

Thailand, the Philippines, and Malaysia drive regional growth

Thailand remained the largest market, with pangasius export value reaching USD 24 million in the first three months of 2026. Exports to both the Philippines and Malaysia reached USD 9 million each. Together, these three markets accounted for the majority of Vietnam’s pangasius export growth within ASEAN. Other markets such as Brunei, Indonesia, and Laos remained relatively small in scale, but Vietnam’s presence there reflects the long-term geographical expansion of Vietnamese pangasius within the region.

ASEAN: A promising market amid export restructuring

ASEAN offers structural advantages that many major export markets do not. Its geographical proximity helps optimize logistics costs, while similarities in culinary culture facilitate market penetration for Vietnamese pangasius. Intra-bloc tariff preferences also directly support price competitiveness — an advantage that becomes even more significant as global whitefish supply tightens and prices of cod and pollock remain high.

While the US market continues to face pressure from retaliatory tariffs, accelerating diversification toward ASEAN is becoming an increasingly important strategy. With stable growth and a favorable institutional framework, ASEAN is emerging as a promising market in the restructuring of Vietnam’s pangasius exports in 2026.

The remaining challenge is to increase the share of value-added products in exports to ASEAN — not only to enhance value per shipment, but also to meet the rapidly changing demands of the region’s urban consumers and reduce dependence on a single product category.

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