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) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
(vasep.com.vn) Vietnam’s tuna exports sustained their upward trajectory in August 2026, though the pace remained modest at just 2%. The month saw divergent trends across key markets: the US maintained its leading position, Japan and Canada improved, Russia surged and the EU continued to experience a steep downturn. These developments suggest that exporters are entering the final months of the year amid a market environment marked by greater uncertainty.
(seafood.vasep.com.vn) Congalsa has acquired the entire charter capital of Lenger Seafood Vietnam, giving it full ownership of the business and its Nam Dinh processing facility.
(seafood.vasep.com.vn) Ninh Binh Province is entering a peak period of action against illegal, unreported and unregulated (IUU) fishing, focusing on thoroughly addressing violations, closely monitoring fishing vessels at ports and preventing vessels from violating regulations and operating illegally in foreign waters ahead of the European Commission’s (EC) upcoming inspection in 2026.
(vasep.com.vn) The application of biotechnology in seed production is increasingly viewed as a strategic imperative to upgrade pangasius fingerling quality, optimize farming efficiency and anchor sustainable industry development.
(vasep.com.vn) On September 15, 2026, in Can Tho, VASEP and ASC jointly organized a training course titled “New ASC standards: updates and practical implementation guidance for farms, businesses and aquafeed mills”. Beyond briefing stakeholders on updated ASC requirements for aquaculture facilities and feed production, the workshop dedicated substantial floor time to directly addressing on-the-ground compliance bottlenecks encountered by Vietnamese enterprises.
(searfood.vasep.com.vn) Vietnam’s tilapia exports continued to post positive results in the first eight months of 2026, with total export value reaching US$90 million, up 43% year-on-year. However, exports in August alone stood at US$11 million, down 8%, reflecting uneven market developments. Brazil remained the leading market, while Japan recorded notable growth, opening up new opportunities for Vietnamese tilapia products.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.3 billion in the first eight months of 2026, up 12% year on year. However, growth has begun to slow and become more differentiated across markets, while the U.S. and EU continue to present significant challenges. The latest insights from the Global Shrimp Forum 2026 (GSF 2026), held in early September, also indicate that the final months of the year will remain highly competitive as global supply continues to expand and buyers increasingly focus on quality, product specifications, supply stability and the ability to meet market-specific demand.
(seafood.vasep.com.vn) In August 2026, Vietnam’s seafood exports reached $1.14 billion, up 6% year on year. Cumulative eight-month exports rose 11.8% to $8.00 billion, though momentum has cooled compared to the 12.8% growth seen through July. China - Hong Kong and ASEAN are offsetting weakness in the U.S, EU and partly Japan. This divergence will likely widen in Q4 as trade tariffs and traceability requirements directly weigh on new orders.
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