China's rebound lifts Viet Nam's pangasius exports

Pangasius trade strengthened in the first quarter of 2026, led by a sharp recovery in Chinese buying. Viet Nam supplied 210 830 tonnes of the 230 129 tonnes of frozen pangasius entering international trade, giving it a 92 percent share. Vietnamese shipments rose by 16 percent year-on-year, and frozen fillets accounted for 84 percent of exports. China imported 58 520 tonnes, up 65 percent. Its frozen fillet purchases almost doubled to 45 260 tonnes, and whole frozen imports rose by 12.8 percent to 13 260 tonnes.

US frozen fillet imports slipped to 22 720 tonnes and stayed below their 2024 level. Latin American and the Association of Southeast Asian Nations (ASEAN) purchases were stronger. Mexico, Brazil and Colombia together imported 20 620 tonnes of Vietnamese frozen fillets, 18 percent more than a year earlier. ASEAN markets bought 30 500 tonnes, also up 17 percent. Thailand accounted for about half of that volume and increased its purchases by 40 percent; imports by Singapore and the Philippines rose, but Malaysia recorded a modest decline.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) markets imported 17 percent more pangasius than in the first quarter of 2025 and 27 percent more than in 2024. Mexico, Singapore, Canada, Japan and the United Kingdom of Great Britain and Northern Ireland posted particularly strong gains; UK frozen fillet imports rose by 22 percent as high cod and pollock prices kept buyers interested in lower-cost whitefish. Tight raw material supply in Viet Nam pushed farmgate prices 7 to 17 percent above last year's level, which may limit exporter margins even if demand stays firm.