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.
(vasep.com.vn) In the first quarter of 2026, Vietnam’s shrimp exports reached USD 1.069 billion, up 17.5% compared to the same period in 2025. This is a positive result amid an uneven global shrimp market recovery, intensifying competition among major suppliers, and continued volatility in the international trade environment. However, this growth does not reflect a broad-based recovery across the entire sector, but rather is driven mainly by strong performance in a few markets and specific product segments—most notably lobster exports to China.
(seafood.vasep.com.vn) Vietnam’s tuna exports continued to decline in March 2026. Cumulatively, in the first three months of the year, export value reached USD 208 million, down 4% compared to the same period in 2025. The export landscape shows clear divergence across markets: while the U.S. and EU remain challenging, markets such as Russia, the Middle East, Egypt, the Philippines, and Mexico have emerged as growth bright spots.
(seafood.vasep.com.vn) In Quang Ngai Province, shrimp farming costs are rising sharply due to लगातार increases in feed, fuel, and input material prices, while farm-gate shrimp prices are declining. This has significantly reduced farmers’ profit margins and increased production risks.
(seafood.vasep.com.vn) Vietnam’s tilapia exports are experiencing impressive growth, reflecting expanding global demand as well as the sector’s development potential. However, behind the strong growth figures lie limitations in production capacity and supply chains, highlighting the need for sustainable development in the coming period.
(seafood.vasep.com.vn) Vietnam’s pangasius exports to the Middle East in 2025 and early 2026 have shown notable growth. However, escalating geopolitical tensions in the region have increasingly impacted export activities since March. This situation presents a challenge of balancing market expansion opportunities with rising trade risks.
(seafood.vasep.com.vn) The Quang Tri Department of Agriculture and Environment has instructed localities to base their stocking schedules on actual conditions in each farming area, while developing plans, allocating resources, and implementing synchronized measures for disease prevention and disaster risk management in aquaculture production.
(seafood.vasep.com.vn) In the first two months of 2026, Vietnam’s exports of fish cakes and surimi exceeded USD 45 million, up 7% compared to the same period in 2025, indicating a positive outlook for this product segment amid recovering demand in many markets.
(seafood.vasep.com.vn) During the week from April 4th to 10th, 2026, Quang Ngai province intensified its monitoring and law enforcement activities with the determination to eliminate illegal, unreported, and unregulated (IUU) fishing practices.
(seafood.vasep.com.vn) Thanh Hoa’s shrimp sector is undergoing a strong transformation by accelerating the adoption of high technology, helping to improve productivity, increase profits, and meet market demands. The province currently has about 4,100 hectares of shrimp farming, with output continuing to rise despite stable farming area, mainly due to the shift from traditional methods to intensive and super-intensive farming.
(vasep.com.vn) Amid ongoing volatility in global seafood trade, Vietnam’s crab exports have made a fairly positive start to 2026. According to Vietnam Customs statistics, export turnover in the first two months of 2026 reached nearly USD 55 million, up 24% compared to the same period in 2025 and more than 2.2 times higher than in the same period of 2024. This indicates that crab exports are entering 2026 with stronger growth momentum, particularly in Asian markets.
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