Vietnam’s tilapia strategies for expanding the white fish market

According to Vietnam’s customs data, the country’s tilapia exports generated USD 7 million in the first two months of this year, reflecting a 9% decline compared to the same period last year. Specifically, tilapia exports surged by 93% to over USD 5 million, whereas red tilapia exports plummeted by 70%, amounting to just over USD 1.4 million.

The United States remains Vietnam’s largest market for tilapia products. In the first two months of this year, shipments to the U.S. accounted for 47% of Vietnam’s total tilapia exports. Export revenue from tilapia to this market reached nearly USD 3 million, marking a 105% year-on-year increase with steady growth each month. Meanwhile, red tilapia exports to the U.S. fell drastically to USD 256,000, down 78% from the previous year.

Russia has emerged as Vietnam’s second-largest tilapia market after the U.S. In the first two months of 2025, exports to Russia surpassed USD 1 million, representing 21% of total shipments. This is a notable shift, as Russia had imported little to no tilapia from Vietnam in the same period last year. Similarly, red tilapia exports to Russia were negligible throughout 2024, except for a small shipment of nearly USD 7,000 in October.

Vietnam’s primary tilapia export products include fillets and other tilapia meat (excluding fish cakes and surimi) under HS code 0304, as well as fresh and frozen whole tilapia under HS codes 0302 and 0303. In the first two months of 2025, export revenue for these products reached over USD 3 million and USD 2 million, respectively, with the U.S. being the top buyer.

After several years of declining exports, 2024 marked a significant turnaround for Vietnam’s tilapia industry, with robust growth across all product categories. Exports of fresh and frozen tilapia (HS codes 0302 and 0303) reached USD 16 million, representing a 222% increase, more than tripling the 2023 figure. Meanwhile, exports of tilapia fillets and meat (HS code 0304) saw record-breaking growth, soaring to USD 14 million, an 876% increase, nearly ten times higher than the previous year.

Vietnam’s tilapia production remained steady in 2024, with total output reaching 300,000 tons, matching 2023 levels. The total farming area also remained unchanged at 30,000 hectares. However, tilapia and red tilapia fingerling production declined by 17% year-on-year, totaling 1.09 billion juveniles. Additionally, several breeding projects were carried out under the National Breeding Program 703, supporting species such as tilapia, golden pompano, brown-marbled grouper, carp, and American catfish. These initiatives were implemented at research institutions like the Research Institute for Aquaculture I and II, which also focused on pangasius and red tilapia breeding.

Despite its impressive growth in 2024, Vietnam’s tilapia exports remain modest compared to China—the world’s leading producer and exporter of tilapia. In 2025, tilapia is expected to be a key species with high economic potential, prompting a stronger focus on production expansion.

Several provinces and local businesses are now considering investments in tilapia farming alongside pangasius, Vietnam’s primary white fish export. If Vietnamese enterprises ramp up tilapia production, the industry could capitalize on several key opportunities:

1. Diversifying export products – Tilapia could complement existing white fish exports and help Vietnam seize new market opportunities.
2. Expanding the domestic market – Increasing local tilapia supply could reduce dependence on imports from China.
3. Tapping into U.S. and EU demand – As the U.S. reduces tilapia imports from China, Vietnam has a chance to expand its market share.

However, these opportunities also come with challenges. Vietnam will face stiff competition from China, which benefits from large-scale production and lower costs. Additionally, significant investments in modern aquaculture technology will be required to ensure high-quality and high-yield tilapia farming, presenting a substantial challenge for Vietnamese businesses.

Source: https://vietfishmagazine.com/