Vietnam’s pangasius exports hit $1.8 billion but face new Chinese rivals

Vietnam's pangasius industry, with annual exports valued over $1 billion and China being its largest market, is facing growing competition from domestically produced snakehead fish in China. Despite the challenges, pangasius remains popular in China due to its affordability and widespread use in cooking. However, China's production of 800,000 tons of snakehead fish in 2024, with 40% allocated to processing facilities, is replacing imported pangasius. To maintain their position in China, Vietnamese exporters are encouraged to innovate, improve quality, reduce costs, and meet stringent food safety standards. The industry is projected to reach $2 billion in exports for 2024.

Vietnam’s pangasius, a billion-dollar export, thrives in China but now faces significant competition from domestically produced snakehead fish. Vietnam’s pangasius industry, valued at over $1 billion annually, is navigating both success and challenges in China, its largest market. In the first 11 months of 2024, pangasius exports reached $1.8 billion, a 10% increase from the same period in 2023, with $500 million generated from China alone, according to the General Department of Customs. While China remains a crucial market, consuming over 12,500 billion VND (approximately $500 million) worth of Vietnamese pangasius so far this year, the industry faces intensifying competition from China’s domestically produced snakehead fish. Vietnamese pangasius dominates, but rivals emerge Pangasius remains highly popular in China due to its affordability compared to local freshwater fish like carp and tilapia. Widely used in home cooking, the fish has also become a staple at restaurants and ...