Vietnam Basa Fish Prices Surge: EU Export Prices Hit Record High — What Chinese Importers Should Watch
Sep 1, 2026 ｜ Seafood Trade Market Watch
If you've been tracking the global frozen fish fillet market, a few signals are worth noting: Vietnamese basa fish prices are rebounding sharply, and export prices to the EU have reached an all-time high. As the world's largest basa producer and exporter, any price swing in Vietnam flows directly down to the procurement costs of importers and processors downstream.
Farm-gate prices climb across the board, small fish rising fastest
Data from a Ho Chi Minh City market consultancy shows that in weeks 31–34, farm-gate prices for all three main size categories rose, with small fish leading the charge — the 800g–1.0kg and 1.0–1.2kg sizes were approaching the VND 32,000/kg (approx. USD 1.22) mark by week 35.
The direct driver of this rally is the gap between two farming cycles. According to Le Thi Thuy Trang, Sales Manager at Siam Canadian Group's Vietnam office, fillet sizes for the European market — 120/170g and 170/220g — are in severe shortage, while rising freight costs to Europe are adding further pressure on CNF quotes.
EU export price: a record high in data history
Market participants are currently cautious in their estimates of EU export prices, with the general range at USD 3.60–4.00/kg, "subject to final confirmation by processors." Even at the reference level of USD 3.80/kg, this is already the highest level recorded in the data series.
VASEP's listed raw material prices rose by about VND 1,000/kg in the week starting August 15, with the 700g–1.0kg size quoted at VND 29,000–31,000/kg. Rising raw material costs are now cascading through the entire supply chain.
Export data: EU shines, China remains the anchor
Looking at the totals, Vietnam's basa exports reached USD 203 million in July, up 4% year-on-year. The structural picture in June is even more telling:
The EU is the fastest-growing market: June exports to the EU reached 7,750 tons, up 51.1% month-on-month and 41.3% year-on-year, with export value of USD 20 million, up 56% YoY.
Volume and value diverge, unit prices are climbing: H1 export value to the EU rose 3%, but volume edged down 1.7%, pointing to higher average prices — H1 average export price was about USD 2,650/ton, up roughly 5% from the same period last year.
China and Hong Kong remain the largest destination by far: June exports to China (incl. Hong Kong) reached 29,100 tons, up 17.5% MoM and roughly flat YoY; H1 exports to China stood at 147,470 tons, up 15.1% YoY, accounting for about 72% of the total increase in Vietnam's exports.
Two shrinking markets worth watching
Not every market is rising. The US and ASEAN — two traditional markets — are contracting notably:
United States: H1 export volume fell 16.6% to 52,130 tons, and July alone plunged 28% YoY — described by VASEP as a "major bottleneck," tied directly to recent anti-dumping tariff policy changes.
ASEAN: H1 exports fell 16.2% to 55,910 tons.
Meanwhile, fingerling prices are also eating into farmers' margins — at one point exceeding VND 70,000/kg. Strong restocking demand and poor survival rates are limiting supply, setting the stage for firm raw material prices in the months ahead.
Three reminders for Chinese importers
Procurement costs are likely to stay elevated in the near term: With the farming gap and fingerling shortage combined, raw material prices are unlikely to ease much in the short run, leaving limited room for price negotiation on EU and US-market quotes.
EU-origin supply is harder to secure than before: EU-spec fillets (120/170g, 170/220g) are in severe shortage. If your clients have EU orders, lock in supply and prices as early as possible.
Watch for knock-on effects from the weak US market: As US demand softens, Vietnamese suppliers may redirect more supply toward Europe, China and other markets, reshuffling supply structure and potentially triggering new rounds of price negotiation.
Bottom line
This basa price rally is no ordinary seasonal fluctuation — it's the result of supply gaps, shifting demand patterns, and trade policy disruption converging at once. For importers and processors downstream, the priority now isn't chasing the rally; it's locking in supply early, diversifying sources, and tracking quotes closely — keeping procurement momentum in your own hands during a window of elevated raw material prices.
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