But 2014 seems to start on a better footing.
Favorable exchange rates and lower costs, among other factors, improved the companies’ bottom lines from a year ago.
Results for the first three months of the year from the largest players — Thai Union Frozen Products, Charoen Pokphand Foods and Seafresh — all posted black figures.
Thai Union said its pre-tax profit soared 54% to THB 1.88bn ($58m), thanks to better performance both in shrimp and tuna. The group had seen its profit dive in 2013.
CP Foods’ net profit in Q1 was twice as high as a year ago, hitting THB 2.05bn ($63.2m), an improvement partly led by a recovery in its shrimp business.
Seafresh, meanwhile, overturned its losses from a year ago, with a net profit of THB 108.5 million ($3.3m) in the first quarter of the year.
Their smaller peers also showed signs of recovery.
Asian Seafoods Coldstorage, which processes frozen seafood including tuna, shrimp and squid, made a net gain of THB 24.88m (approx $766,000) in the first quarter of the year, drastically reversing a loss of THB 44.79m a year ago.
This was thanks to higher efficiency and therefore lower costs, as well as a gain of THB 18m on exchange rates — contrasting with a hefty loss of THB 114m in Q1 last year, said the group.
Tropical Canning, which processes tuna, shellfish, as well as ready meals and pet food, reversed a loss of THB 28.4m in Q1 last year, with a gain of THB 38.6m.
Revenues were up 5% or THB 63m to THB 1.24bn. This was thanks to better economic global conditions, with strong growth in particular in the Middle East, said the group. The company also cited an exchange rate gain of THB 6.8m compared to a loss of THB 11.4m a year ago.
Oishi Group, for whom 50% of the business is food related, also had a solid Q1, with profit more than doubling from a year ago to THB 34m, from just THB 15m.
Food turnover was up 4% to THB 1.52bn, driven by more sales n restaurant outlets. However, the beverage business fell 10.5% to THB 1.2bn, driving overall revenue down 3% to THB 2.72bn.
Once again, Trang Seafood Products bucked the trend of its peers.
Just as it was the only one to improve its profit last year, it was the only one to end up in the red in Q1 this year.
That said, the result showed a small improvement, with the net loss shrinking from THB 13.3m in Q1 last year, to THB 11.9m.
(seafood.vasep.com.vn) Currently, Da Nang City has no fishing vessels detained, sanctioned by foreign authorities, or criminally prosecuted for IUU fishing violations. Patrols, monitoring of marine fishing activities, and handling of violations have been prioritized by competent forces, significantly reducing nearshore fishing infringements.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam’s tuna exports to Israel in the first nine months of 2025 reached just over USD 27 million, down as much as 49% compared to the same period in 2024. This is a steep and prolonged decline for many consecutive months, reflecting changes in import demand as well as shifts in the supply structure of this market.
(seafood.vasep.com.vn) The first 700 tons of Vietnamese tilapia ordered and imported by JBS Group will initially be distributed through supermarket chains, the Horeca network and JBS’s product showrooms in Brazil.
(seafood.vasep.com.vn) In October 2025, Vietnam’s pangasius exports hit $217 million, representing an 8% increase compared to the same month in 2024. For the first 10 months of the year, total export value has surpassed $1.8 billion, up 9% year-on-year. This growth demonstrates clear positive momentum for the pangasius industry, despite continued declines in certain markets.
In recent days, the Central provinces of Vietnam have been suffering from historic flooding, with prolonged heavy rains, landslides, flash floods, and deep inundation causing extremely serious impacts on tens of thousands of households, as well as many VASEP member exporters located in the region. With the spirit of mutual support and solidarity, and in order to promptly assist residents and member exporters in the affected areas to stabilize their lives and restore production activities, VASEP calls on all seafood exporters, organizations, and individuals to extend supports to the people and member exporters in the flood-hit areas. We urge timely and practical material and spiritual contributions to help member exporters and local communities in the severely affected provinces overcome this difficult period.
(seafood.vasep.com.vn) In the final days of October 2025, Vietnam’s domestic raw shrimp market remained generally stable, though slight adjustments were recorded in several sizes across key farming regions.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached USD 498 million in October 2025, up 26% from the same period last year. This is one of the highest monthly revenues since the beginning of the year, reflecting solid demand in major markets and faster shipment schedules by exporters. From January to October, shrimp export value reached USD 3.9 billion, up 22% compared to the same period in 2024.
(seafood.vasep.com.vn) On October 31, 2025, the US Court of International Trade (CIT) officially issued an order to suspend the case filed by the National Fisheries Institute (NFI), the National Restaurant Association (NRA), and several US seafood companies against the US Government concerning the implementation of the Marine Mammal Protection Act (MMPA).
(seafood.vasep.com.vn) An Giang’s fisheries sector has maintained stable growth momentum during the first nine months of 2025, making an important contribution to the province’s socio-economic development. Despite facing numerous challenges, the province is implementing various measures to enhance production efficiency, expand markets, and promote sustainable fisheries development toward deeper integration into the global economy.
(seafood.vasep.com.vn) Vietnam’s pangasius export value in September 2025 reached USD 181 million, up 5% compared to the same period in 2024. The overall trend for the pangasius industry remains positive, with total exports in the first nine months of 2025 reaching nearly USD 1.6 billion, an increase of 9% year-on-year.
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