The average price for seafood products rose 4.79 percent year-on-year to CNY 40.46 (USD 6.48, EUR 4.69) per kg while dropping 3.38 percent compared to February prices. Average prices for freshwater products meanwhile averaged CNY 15.06 (USD 2.41, EUR 1.75) per kg, up 4.16 percent year-on-year but down 0.7 percent month-on-month. The ministry’s survey of 47 comparable seafood items, output at 649,000 metric tons in March was up 4.16 percent year-on-year while turnover of seafood producers totaled CNY 14.02 billion (USD 2.25 billion, EUR 1.63 billion), up 12.03 percent year-on-year.
There was good news for cultivators and vendors of crustaceans: average prices for seawater crustaceans rose 1.15 percent compared to last year with prices for freshwater crustaceans up 2.25 percent on last year — a sign that demand remains strong for domestic freshwater crabs, a heavily promoted local product category.
Among the 49 products surveyed for prices only 15 of them (accounting for 30 percent of overall production) saw a price rise in March, among them mantis shrimp which rose 6.46 percent to CNY 63.1 (USD 10.11, EUR 7.32) per kg as well as steelhead fish, up 5.8 percent up CNY 35.91 (USD 5.75, EUR 4.16) per kg and freshwater crab, up 3.56 percent to CNY 125.18 (USD 20.06, EUR 14.52) per kg.
The bulk of products surveyed (45 percent of overall output) saw a price decline, with a month on month drop of 13.4 percent for yellow croaker (average CNY 66.35 (USD 10.62, EUR 7.69) per kg) and hairtail (down 9.9 percent to an average CNY 25.90 (USD 4.14, EUR 3) per kg) and pomfret (down 9.8 percent to CNY 100.67 (USD 16.12, EUR 11.66) per kg).
Much has been made of China’s GDP growth slowing, with a first quarter growth figure of 7.4 percent falling slightly below the Chinese government’s full-year target of 7.5 percent, itself a reduction on last year’s target of 8 percent. A sign of possible long-term source of weaker demand for high end seafood: China’s restaurant industry grew 9 percent, to CNY 2.56 trillion (USD 411 billion, EUR 298 million), last year, its slowest growth in more than two decades, according to data newly released by the China Cuisine Association.
“This is a sign that the central government’s antigraft campaign against waste and extravagance has been well implemented,” Feng Enyuan, deputy chairman of the CCA told local media. Midrange and high-end restaurants have been particularly hard hit, according to Feng. President Xi Jinping has pursued a campaign to reduce the so-called three “public consumptions” indulged in by China’s civil servants: overseas work trips, government-use of vehicles and official receptions.
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
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