By the first half of October 2019, the total value of pangasius exports to Malaysia reached US$ 34.18 million, up 23.6% over the same period in 2018. Currently, Malaysia is the second largest pangasius importer of Vietnamese exporters in ASEAN.
Earlier this year, the value of Vietnam’s pangasius exports to Malaysia increased very positively. As an emerging potential market in the region – Malaysia, however, is considered as a stable market with high demand.
In the first 10 months of 2019, only in June and August 2019, pangasius export value to Malaysia decreased compared to the same period in 2018. Exports in other months achieved positive growth.
Malaysia has the borderline with Thailand, Indonesia and Brunei and shares the maritime boundary with the Philippines and Vietnam. The country also focuses on fishing and aquaculture. Fishery is considered as one of the nation’s important economic sectors in food production.
Malaysia also exports shrimp, squid, octopus and seaweed to intra-regional countries (nearly 90% of exports to ASEAN countries). Currently, the country imports marine fish products (under HS 0303) and imports the most pangasius in the fillet seafood group (under HS 0304).
In the past two years, besides traditional white fish product – tilapia, Vietnamese pangasius has started to be well-known by Malaysian customers and consumers, especially in supermarkets, restaurants or schools.
Realizing the potential from this market, in the first 10 months of 2019, about 30 Vietnamese enterprises exported pangasius to Malaysia, in which, the export items were diverse such as: frozen pangasius fillets, frozen pangasius steaks, dried pangasius bubbles, pangasius bubbles (boiled/triangular/tubular form) …Exports prices for these products range from 1.5 US$ to 7.5 US$/kg.
With the current steady growth, it is forecasted that in the fourth quarter, pangasius export value to Malaysia will continue to grow positively. The total export value of pangasius to ASEAN market in 2019 will increase by about 25% in value compared to the same period in 2018.