June 29, 2026
Vietnam's tilapia exports double to US$62 million in Jan-May 2026 as Brazil and US risks mount
Strong headline growth masks diverging market trends, with Brazil facing protectionist legislation and US shipments sliding 23%.
Vietnam's tilapia exports reached US$62 million in the first five months of 2026, more than doubling from the same period a year earlier, though policy risks in Brazil and a continuing decline in US shipments are clouding the outlook.
Data from the Vietnam Association of Seafood Exporters and Producers (VASEP) show monthly exports hit US$14 million in May, up 18% year-on-year, sustaining the strong pace recorded across the January-May period.
Brazil accounted for the largest share of shipments, with exports to the South American market reaching US$34 million over the five-month period - more than half of Vietnam's total tilapia export value. May alone saw US$8 million in Brazilian sales. However, VASEP flagged growing protectionist pressure in the country, with several states introducing or proposing higher ICMS taxes on imported tilapia. The northeastern state of Pernambuco has temporarily banned the sale of imported tilapia in various forms, and Brazil's Chamber of Deputies is reviewing a bill that would prohibit tilapia imports outright to protect domestic producers.
The US, Vietnam's second-largest tilapia market, continued to contract. Exports fell 23% year-on-year to US$14 million over the five-month period, with May shipments down 53% to US$4 million, reflecting both difficult market conditions and intensifying competition from rival suppliers.
Smaller markets delivered strong growth. Exports to Canada rose 236% and shipments to Australia increased 123% over the reviewed period, pointing to emerging diversification beyond the two main destinations.
VASEP urged exporters to accelerate market diversification into Canada, Australia, the Middle East and the European Union, and to invest in value-added products to strengthen competitiveness as reliance on Brazil and the US comes under pressure.
