The value of pangasius exports from Vietnam to Malaysia reached a significant milestone in the first half of October 2019, totaling US$34.18 million. This represented a notable increase of 23.6% compared to the same period in 2018. Malaysia currently stands as the second-largest importer of Vietnamese pangasius within the ASEAN region, reflecting its status as an emerging potential market with stable demand.
Consistent Growth and Market Potential
Vietnam’s pangasius exports to Malaysia displayed positive growth throughout most of 2019, with only minor declines in June and August compared to the previous year. This trend highlights Malaysia’s position as a reliable market with strong demand for pangasius products.
The country’s geographical proximity to Thailand, Indonesia, Brunei, the Philippines, and Vietnam, coupled with its focus on fishing and aquaculture, further contributes to its importance within the regional seafood industry.
Malaysia’s own seafood exports primarily consist of shrimp, squid, octopus, and seaweed, with approximately 90% of these exports directed towards ASEAN countries. Within its seafood imports, marine fish products (HS 0303) are prominent, and pangasius ranks as the most imported fillet seafood item (HS 0304).
Vietnamese pangasius has gained recognition among Malaysian consumers over the past two years, especially within supermarkets, restaurants, and educational institutions. This growing awareness has contributed to the expansion of Vietnamese pangasius exports alongside traditional white fish products such as tilapia.
Diverse Export Market and Positive Outlook
Recognizing the market potential, around 30 Vietnamese enterprises exported pangasius to Malaysia in the first 10 months of 2019. The exported product range was diverse, encompassing frozen pangasius fillets, frozen pangasius steaks, dried pangasius bubbles, boiled/triangular/tubular forms of pangasius bubbles, and more. Export prices for these products ranged from $1.5 to $7.5 per kilogram.
With the steady growth observed, it is anticipated that pangasius export values to Malaysia will continue to increase positively throughout the fourth quarter. As a result, the overall export value of pangasius to the ASEAN market in 2019 is projected to witness a 25% growth in value compared to the previous year.
Malaysia’s position as the second-largest importer of Vietnamese pangasius within ASEAN presents significant opportunities for Vietnamese exporters. The consistent growth in pangasius exports to Malaysia, combined with the country’s stable market and high demand, make it an attractive destination for Vietnamese seafood products.
As Vietnamese pangasius gains further recognition among Malaysian consumers and diversifies its product offerings, the future outlook remains promising for increased export values. Continued efforts to cater to the preferences of Malaysian buyers and maintain competitive pricing will be crucial for capitalizing on the market potential and sustaining the positive momentum in pangasius exports to Malaysia.