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) The year 2026 marks a period of strong growth for Vietnam’s tilapia industry, but it is also a time when international export competition is becoming increasingly intense. Vietnam’s tilapia exports reached USD 99 million in 2025, up 140% compared to the previous year. In the first four months of 2026 alone, export value reached USD 49 million, a 151% increase year-on-year. As global demand for affordable whitefish continues to rise, Vietnam is emerging as a noteworthy competitor to traditional tilapia powerhouses such as China, Indonesia, Brazil, and Egypt.
(seafood.vasep.com.vn) With continued policy support, technological innovation and close coordination among authorities, businesses and farmers, Vietnam’s pangasius industry is expected to make a strong and sustainable breakthrough during the 2026–2030 period, reinforcing its position as the world’s leading exporter of the fish.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s tilapia exports to Asian markets showed varying trends across regions and countries. The Middle East recorded strong growth, with Saudi Arabia emerging as the largest Asian market for Vietnamese tilapia. ASEAN markets also expanded significantly, driven primarily by Malaysia. Meanwhile, Japan maintained solid growth, while exports to South Korea declined compared to the same period in 2025.
(seafood.vasep.com.vn) Shrimp and pangasius continued to lead growth, helping seafood exports reach $4.67 billion in the first five months of the year; however, differentiation among product groups and increasingly stringent requirements from importing markets are posing many challenges for the industry.
(seafood.vasep.com.vn) Every day, the seafood processing industry in Ca Mau generates large quantities of shrimp heads and shells during processing operations. In the past, these by-products were largely treated as waste, increasing production costs and posing potential environmental risks. However, thanks to advanced processing technologies, materials once considered waste are now being transformed into high-value products, creating a circular economy model within the seafood industry.
(seafood.vasep.com.vn) Vietnam Clean Seafood Corporation has invested in a 280-hectare super-intensive shrimp farming zone in Tran De Commune, Can Tho City, generating export value of approximately VND 3 billion per hectare per year—around 50 times higher than traditional agricultural production.
(vasep.com.vn) Vietnam’s seafood exports reached USD 1.02 billion in May 2026, up 0.6% year-on-year. Cumulative exports in the first five months of 2026 totaled USD 4.67 billion, an increase of 11% compared to the same period in 2025.
(seafood.vasep.com.vn) In a rapidly changing global seafood market, timely insights and reliable data are more critical than ever. The Report on Vietnam Seafood Exports in Q1/2026 provides a comprehensive overview of the latest developments in Vietnam’s seafood production, trade performance, and export trends, helping businesses navigate uncertainty and identify new growth opportunities.
(seafood.vasep.com.vn) While many major markets continue to experience slow growth, Russia has emerged as a brighter destination for Vietnamese tuna exports in early 2026. Export turnover to this market increased by nearly 55% in the first four months of the year, indicating a clear improvement in demand. Nevertheless, Russia remains a market that should be viewed with both optimism and caution.
(seafood.vasep.com.vn) Vietnam’s pangasius exports have shown encouraging signs of recovery in 2026. In the first four months of the year, total export turnover reached USD 720 million, up 17% compared to the same period last year. This result reflects improving demand across many markets, as well as the efforts of Vietnamese pangasius enterprises to maintain production, secure orders, and adapt to changing market conditions.
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