According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the first two months of 2025 recorded positive signals in seafood export activities, with a total turnover of 1.423 billion USD, an increase of 18.2% over the same period in 2024. Of which, exports in February 2025 reached 655.197 million USD, an impressive growth of 42.6%.
Strong growth momentum
Ms. Le Hang - Communications Director of VASEP said that shrimp continued to be the biggest bright spot, contributing 542.387 million USD in the first 2 months of the year, an increase of 30.8%. In February 2025 alone, shrimp export turnover reached 231.406 million USD, an increase of 33.9%. This recovery shows that the shrimp industry is regaining growth momentum after a period of prolonged low prices in 2023 - 2024.
While imports from China and the US are expected to decline in 2024, other markets such as the EU and some emerging regions have filled the gap, helping to keep global shrimp production stable while prices improve, a sign of a healthier balance between supply and demand.
The EU is currently a notable market with imports of fresh, frozen and value-added processed whiteleg shrimp reaching 376,875 tonnes in 2024, up 4% compared to 2023. Vietnam has also recorded a partial recovery in supply to the EU, consolidating its position among the top suppliers. However, increasingly fierce competition from Ecuador and India requires Vietnam to focus on value-added products and diversify its markets to maintain its advantage.
Processing pangasius at Caseamex Company. Photo: PV
In the first two months of 2025, Vietnam's total seafood export turnover reached 1.423 billion USD, an increase of 18.2% over the same period in 2024. Of which, February 2025 reached 655.197 million USD, an impressive growth of 42.6%.
The outlook for the shrimp industry in 2025 is quite optimistic, as long as uncertainties such as the trade war under the Trump administration do not cause further disruption.
Average import prices are expected to increase from October 2024 and remain high throughout 2025 on stable inventories, providing confidence to both exporters and importers.
Price growth but potential risks
Pangasius recorded an export turnover of 253.241 million USD in the first 2 months of the year, but a slight negative growth (-0.8%) compared to the same period. In February 2025, it reached 120.057 million USD, a strong growth of 32.8%, showing signs of recovery in the short term. The price of commercial pangasius is currently at a 3-year high (32,000-33,000 VND/kg for fish over 1kg/fish), bringing significant profits to farmers (2,000-3,500 VND/kg). This is the result of increased export demand, especially from the end of 2024, when businesses recorded many stable orders until at least June 2025.
VASEP experts said that the pangasius market faces many challenges. Raw material prices are increasing due to escalating input costs (feed, labor) and instability from the US tariff policy, with an additional 10% tax imposed on processed seafood from China, indirectly affecting global trade flows.
Demand in the US remains sluggish, while large inventories could hold back price increases. Pangasius farmers should be cautious about expanding production spontaneously, as current prices may be “virtual” and could easily plummet if supply exceeds demand. Linking with businesses, applying modern farming technology and focusing on value-added products will be key to maintaining a competitive advantage.
Tuna stable in difficult times
Tuna exports reached 126.481 million USD in the first two months of the year, down slightly by 3.5%, with February 2025 reaching 59.986 million USD, up 15.9%. The Japanese market - one of the main destinations for Vietnamese tuna - showed price stability, albeit at a low level. The price of frozen bigeye tuna at Toyosu Market (Tokyo) remained around 650 yen/kg from the 4th week of 2025, 100 yen/kg lower than the previous year, due to tight supply from the Indian Ocean and the East Pacific. Meanwhile, high-grade bluefin tuna remained scarce, pushing the auction price of high-quality fish at Oma (Aomori) to exceed 10,000 yen/kg on February 20, 2025.
According to VASEP, Vietnam's tuna export industry is facing major challenges from major import markets such as the EU and the US. Regulations on combating illegal fishing (IUU) continue to be a major barrier to exploited seafood, including tuna, in which the minimum size of 0.5m for skipjack tuna in Decree 37/2024 is making it difficult for fishermen and businesses to solve the problem of raw materials.
Similarly, the US has implemented the Marine Mammal Protection Act (MMPA), requiring seafood exporting countries to demonstrate that their fishing practices do not harm marine animals and demonstrate similar management regulations to the US. The US has just announced that it will not recognize Vietnam and is at risk of banning the import of many Vietnamese seafood species from January 1, 2026 if Vietnam does not take timely action.
To overcome this, it is necessary to have strong support from competent authorities and industry managers in perfecting the legal framework, improving monitoring capacity and supporting fishermen to comply with international standards.
Besides other products, the export of product groups such as fish all showed great potential of Vietnam (other fish reached 302.783 million USD, up 13.6%; squid and octopus 101.009 million USD, up 13.8%; shellfish 39.089 million USD, up 121.6%; crab 62.762 million USD, up 86.1%). In particular, shellfish and crab recorded outstanding growth, thanks to strong demand from the Chinese market.
However, VASEP experts warn that the EU and the US are increasingly demanding full and strict traceability. If these requirements are not met, these products risk being rejected for import, seriously affecting export turnover. Coordination between the Government, businesses and fishermen to build a sustainable supply chain is a vital factor to maintain the market and promote growth.
Source: https://danviet.vn/trung-quoc-tang-mua-cua-muc-cac-loai-nhuyen-the-tu-viet-nam-xuat-khau-thuy-san-vut-tang-182-20250306173304915.htm
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