Vietnam’s seafood gains traction in Brazil as pangasius leads the charge

Vietnam’s seafood exports to Brazil are gaining momentum, led by strong pangasius sales. In 2024, exports reached nearly USD 130 million, up 14% from last year, according to VASEP.

Growing demand meets local supply shortfalls

Despite being Latin America’s second-largest aquaculture producer, Brazil imports more than USD 1.4 billion in seafood annually, due to insufficient domestic supply, especially for products like salmon, cod, shrimp, and whitefish. Overfishing has further eroded wild stocks.

With a population of over 200 million and an average seafood consumption of 12 kg per capita, higher than the U.S., Brazil remains a high-potential market. Demand is concentrated in major cities such as São Paulo, Rio de Janeiro, and coastal areas, where middle-class consumers increasingly seek convenient, ready-to-cook seafood.

Vietnam dominates whitefish segment

In 2024, Vietnam became Brazil’s second-largest seafood supplier, capturing 17% of the country’s import market and leading the whitefish category with a 38% share. Exports are projected to reach USD 48.2 million in Q1 2025, up nearly 73% compared to the same period last year.

Vietnamese seafood, especially pangasius, is gaining ground due to its competitive pricing and consistent quality. Value-added products such as fillets, fish cakes, fish balls, and peeled shrimp are proving popular in Brazilian supermarkets and mid-range restaurants.

Brazil’s ongoing review of import standards, particularly regarding phosphate limits, could pave the way for a broader range of Vietnamese value-added products, helping the country move up the processing chain.

Brazil is currently Vietnam’s largest trading partner in South America, and both countries aim to raise bilateral trade to USD 10 billion by 2025. Vietnam is also negotiating with MERCOSUR, a regional bloc of which Brazil is a key member, to secure preferential tariffs, boosting its competitive edge over rivals such as India and Thailand.

Barriers and competition remain

Despite the opportunities, Brazilian market access still comes with significant challenges. In February 2024, Brazil temporarily halted tilapia imports due to disease concerns, a move that could potentially extend to other species, including pangasius. The country also bans imports of whole frozen shrimp, and its bureaucratic import procedures can be a major hurdle.

Vietnamese exporters also face stiff competition from India, Ecuador, and Indonesia. On top of that, strict sustainability and traceability standards require careful compliance and long-term investment.

Strategies to strengthen presence in Brazil

To fully capitalize on Brazil’s market potential, Vietnamese seafood exporters should:

• Closely monitor import regulation updates, especially those related to quarantine and additive limits;
• Invest in deeper processing and develop high-value products aligned with Brazilian consumer preferences;
• Take part in trade fairs and leverage support from the Vietnamese Trade Office in Brazil;
• Secure international certifications such as ASC and BAP to boost market access and consumer trust.

Vietnam’s position as a leading supplier of pangasius and the growing appetite for whitefish in Brazil could be a winning combination, if local firms can navigate the risks and invest in long-term partnerships.

Source: https://vietfishmagazine.com/