Hanoi: Pangasius exports have seen robust growth from the start of the year, driving farm-gate prices to their highest levels in three years, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). China continued to be the largest market for Vietnamese pangasius, generating over 580 million USD in 2024, a modest increase of 1.3% compared to the previous year. The US remains the second-largest market. December 2024 exports to the US reached nearly 28 million USD, a 40% increase from December 2023, with annual exports to the US totalling 345 million USD, up 27% year-on-year.

According to Vietnam News Agency, the significant rise in prices and export volumes has been attributed to increased demand from international markets. The growth in exports has provided a substantial boost to the Vietnamese economy, particularly benefiting local farmers and exporters. The heightened demand has also led to expansion in farming and production capacities to meet the needs of key markets such as China and the US.

The Vietnam Association of Seafood Exporters and Producers has expressed optimism about the continued growth of the pangasius market, highlighting the importance of maintaining quality and sustainability standards to ensure long-term success. The association is also focusing on exploring new markets and strengthening existing trade relationships to further enhance export performance.