Despite a dip at the end of 2022 and in January 2023, experts say the outlook for Pangasius exports this year is still positive.

According to director for communication at the Vietnam Association of Seafood Exporters and Producers (VASEP), Mrs. Le Hang, she said that Pangasius fish export value declined 12% from October to December 2022 compare to a year earlier to 457 million USD.

This drop continued until the beginning of this year, with 50% in January.

Even so, thanks to the increasing demand from China and US (Vietnam's two largest markets) Pangasius exports are likely to have a good growth in the remaining months of this year.

President of Southwind Food (a US seafood importer), Mr. Sam Galletti, forecasted that consumption of Pangasius and tilapia in the US market is going to rise this year due to stable supplies and affordable prices.

As a result of sanctions against Russia and the reduction of Cod fishing has led to a lack of supply and created another avenue for demand for other types of whitefish into the US market. In addition, the United States tends to import more Pangasius fillets than tilapia fillets.

Another good news for Vietnam exporters, the shipment for Vietnamese Pangasius fish to the North American country enjoyed zero tariffs under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This is an opportunity for Vietnam to continue promoting the trade of fish exports to this market according to Mr. Luu Van Khang, Commercial Counselor of Vietnam’s Trade Office in Mexico.

Last year's export value to Mexico was 105.1 million USD, they placed as the third largest market of Vietnamese Pangasius fish.

On the Chinese market, the government is lifting the Zero Covid policy, and this creates favorable conditions for Vietnamese agricultural products to be exported to this market, including Pangasius.

In spite of Tilapia is a key aquatic species raised in their country, the Chinese consumers tend to prefer Pangasius fish than tilapia creating a favorable opportunity for Vietnamese businesses to export to the neighboring country, Mrs. Hang said.