Vietnamese fisheries at strict EU threshold: Less market for pangasius, tuna

Pangasius image yet to recover

In the past, pangasius accounted for up to 40% of Vietnam’s seafood exports to the EU. Today, that share has fallen below 10%. The decline began in 2010, when WWF placed Vietnamese pangasius on its “red list,” severely damaging the product’s image in the eyes of European consumers.

Although in recent years the EU has relaxed regulations on antibiotic residues and food safety, market confidence has yet to be restored. Ms. Le Hang, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), commented, “The issue with pangasius today is not food safety, but branding and the trust of EU consumers.”

According to data from VASEP, after a period of decline, pangasius exports to the EU have shown signs of recovery, reaching USD 176 million in 2024, slightly higher than USD 173 million in 2023. Part of the reason is the Russia-Ukraine conflict, which has increased European demand for inexpensive white-fleshed fish. Germany has now overtaken the Netherlands as the largest importer of Vietnamese pangasius, benefiting from the port of Hamburg and strong domestic consumption.

However, challenges remain significant. Dr. Nguyen Thi Minh Phuong from the Diplomatic Academy noted, "Pangasius production is abundant, reaching nearly 1.8 million tons in 2024, but the brand is weak and distribution channels are limited. Without a systematic communication and promotion strategy, it will be difficult to regain lost market share."

Tuna facing raw material difficulty

While pangasius struggles with branding, tuna faces a raw material shortage. For five years, Vietnam enjoyed a 0% tariff on all tuna exports to the EU and a quota of 11,500 tons of canned tuna. However, this advantage has been shrinking because the domestic tuna supply does not meet standards.

Under regulations, tuna must be at least 0.5 meters long to be processed for export, yet most tuna caught by fishermen is only around 35 cm, with just 10-15% meeting the requirement. As a result, many companies are forced to import raw materials from other countries, eroding the tariff benefits under the Vietnam–EU Free Trade Agreement (EVFTA).

Dr. Phuong analyzed, "Tuna export turnover to the EU reached USD 139.3 million in 2024, up from 2023 but still below 2022 levels. Limited domestic raw materials and increasingly strict sustainability certification requirements are reducing the competitiveness of Vietnamese companies."

Not only that, competitors such as Ecuador and India have already outpaced Vietnam in both raw material supply and value-added products. Ms. Le Hang emphasized, "If the raw material bottleneck is not resolved soon, Vietnamese tuna will continue to lag behind in the EU market."

Another major obstacle is the IUU yellow card issued by the European Commission in 2017. This measure has undermined the credibility of Vietnamese seafood across the entire supply chain. Dr. Phương noted, "The yellow card affects not only tuna and pangasius but also the overall image of Vietnam’s seafood industry. Removing this barrier is a prerequisite for restoring market share in the EU."

Experts suggest that to strengthen its position, Vietnam needs to focus simultaneously on three key areas: rebuilding the pangasius brand, resolving the tuna raw material shortage, and investing in offshore aquaculture and processing technologies that meet international standards. Alongside these efforts, lifting the IUU yellow card would create a significant opportunity for Vietnamese seafood to reclaim its former leading position in the EU market.