Vietnamese pangasius exports to Malaysia have been on a steady rise in 2019, with the total export value reaching US$ 34.18 million by the first half of October. This represents a 23.6% increase over the same period in 2018, making Malaysia the second-largest importer of pangasius from Vietnam in the ASEAN region.
Malaysia: A Stable Market with High Demand
Malaysia is an emerging market with high potential in the ASEAN region. With its stable market and high demand, the country is a promising destination for pangasius exports. Although the value of exports decreased in June and August 2019, the other months have seen positive growth.
Fishery: An Important Economic Sector in Malaysia
Malaysia has borders with Thailand, Indonesia, and Brunei, and shares a maritime boundary with the Philippines and Vietnam. The country is known for its focus on fishing and aquaculture, making fishery one of its most important economic sectors in food production. Malaysia also exports shrimp, squid, octopus, and seaweed to intra-regional countries, with nearly 90% of exports going 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.
Vietnamese Pangasius: Gaining Popularity in Malaysia
In the past two years, Vietnamese pangasius has started to become more popular among Malaysian customers and consumers. This trend is especially evident in supermarkets, restaurants, and schools. In the first 10 months of 2019, about 30 Vietnamese enterprises exported pangasius to Malaysia. The export items were diverse and included frozen pangasius fillets, frozen pangasius steaks, dried pangasius bubbles, pangasius bubbles (boiled/triangular/tubular form), and more. The export prices for these products range from US$ 1.5 to US$ 7.5 per kilogram.
Positive Growth in the Future
With the current steady growth in pangasius exports to Malaysia, it is expected that the export value will continue to grow positively in the fourth quarter of 2019. The total export value of pangasius to the ASEAN market in 2019 is forecasted to increase by about 25% compared to the same period in 2018.