AsemconnectVietnam - Vietnam's value-added pangasius (VAT) exports to the US are increasing at a record pace, creating great opportunities for businesses in 2025.

According to the data from Vietnam Customs, in November of 2024, VAT-added pangasius exports to the US reached more than 2 million USD, an increase of 4270% (equivalent to 42 times) compared to the same period of 2023.
This result brings the export turnover of this product to the US in the first 11 months of 2024 to more than 12 million USD, an increase of 2182% (equivalent to 21 times) compared to the same period last year.
According to the assessment of the Vietnam Association of Seafood Exporters and Producers (VASEP), the export value of VAT pangasius is the highest in the past 10 years since 2015.
Previously, 2022 was recorded as the year with the highest export value of VAT pangasius to the US when the US opened up after the Covid-19 pandemic and massively imported Vietnamese pangasius in the first half of the year.
However, immediately after that, the consequence of massive imports was that supply was greater than demand, leading to inventory throughout 2023 in the US.
The economic crisis, declining demand, and tightening consumer spending made it difficult for inventory to be consumed quickly, leading to a significant decrease in pangasius export turnover to the US in 2023.
2023 is considered the most difficult year for the pangasius export industry in the past 10 years.
In particular, for the VAT pangasius segment, the US mainly imports breaded products with HS code 16041990 from Vietnam (frozen breaded pangasius finger size 25g, fried breaded pangasius, frozen breaded pangasius slices, frozen breaded pangasius nuggets, etc.).
Exported products with HS code 16041990 accounted for 99.9% of the proportion of VAT pangasius exported to the US in the first 11 months of 2024 with 12.4 million USD.
There were 5 enterprises participating in exporting products with HS code 16041990 to the US in the first 11 months of 2024, of which, Van Duc Tien Giang accounted for 74% of the proportion, followed by Bien Dong accounting for 13%, NTFS Seafood accounting for 12%, Vinh Hoan accounting for 2% and SKYEX accounting for 0.0002%.
Orientation of the pangasius industry in 2025, output reaches about 1.65 million tons, export turnover 2 billion USD.
In terms of raw materials, the country currently has 1,920 facilities producing and raising pangasius breeds, of which 2 facilities produce and raise parent breeds; 76 facilities produce breeds and 1,842 facilities raise pangasius fry to fingerlings.
Climate change along with changes in upstream floods affecting the amount of freshwater in the Mekong River and salinity intrusion in the Mekong Delta may impact pangasius farming activities in 2025.
2025 is forecasted to be the year when Vietnam's value-added pangasius export value continues the momentum of 2024 and develops strongly.
CK
Source: VITIC/ haiquanonline.com.vn