Vietnamese tilapia prices continue to rise! Gradually replacing the US market share of tilapia

Vietnam's pangasius industry is set to grow by 7% annually, as reported by Rabobank, largely due to the US tariffs on Chinese tilapia. In the first half of February 2025, pangasius exports exceeded $75 million, marking an 118% year-on-year increase. Despite competition from China, the US market shows strong demand for Vietnamese pangasius. However, rising prices in the industry, coupled with increased supply chain costs in China, are challenging importers. The future of pangasius prices remains uncertain, but Vietnamese pangasius is gaining market share in the US, potentially replacing Chinese tilapia.

Vietnam's pangasius takes advantage of US tariffs on China to expand its market share According to Rabobank's "Global Aquaculture Outlook 2025" report, Vietnam's pangasius production is expected to increase by 7% year-on-year, continuing to maintain its global leading position. Despite competition from China, India and Indonesia, Vietnam's pangasius exports continue to grow, especially driven by the US's tariffs on Chinese tilapia. Vietnam Customs data showed that in the first half of February 2025, Vietnam's pangasius exports exceeded US$75 million (about RMB 541 million), a year-on-year increase of 118%. As of February 15, the cumulative export value reached US$208 million (about RMB 1.501 billion), an increase of 5% over the same period last year. Although China still China is one of the largest markets for Vietnamese pangasius, but exports to China fell 8% year-on-year in the first two months of this year. At the same time, demand in the US market continued to rise, further ...