The most affected markets include China, down -27%, EU down 16%, South Korea 11% and ASEAN down nearly 7%. The trend of the world consumer market changed due to the impact of the Covid epidemic, blockade orders of many countries and the fear of consumers, causing the demand in the food service segment to drop sharply.
The income of consumers has decreased, so the consumption of high-class products tends to decrease, reducing the average price of exporting seafood products. In the main products, pangasius export got the strongest decrease of 29%, cephalopod exports fell 24%, tuna sales dropped 10% while shrimp exports still kept a slight increase of 1.8%.
The Covid-19 epidemic caused a series of disturbances in the seafood value chain. The supply chain of raw materials and finished products has been "broken", orders have dropped, shipping activities, freight transportation have been delayed, congestion at ports, shortage of goods and cash flow and inventory congestion in the context of businesses still have to maximize social responsibility with the value chain and with employees causing businesses to face many difficulties and great pressures during the Covid-19 epidemic.
However, the Covid-19 epidemic is and will be creating new trends in the seafood supply chain, which can be seen as new opportunities and challenges for Vietnam's fisheries sector.
New challenge in fisheries sector due to the impact of Covid-19 epidemic
- Purchasing power from markets decreases and recovers slowly:
- There will be some businesses being eliminated: closed/bankrupt or sold to other investors.
- The outstanding debts may increase, affecting both related industries (insurance, banking, supporting industries such as manufacturing of medicines, chemicals, packaging materials, ...)
- Increasing production costs.
- There will be many ponds that stop raising, causing more material shortages in the future and raw material prices will soar.
- Supply chain interrupted
- Increasing inventories and shortage of cold storage.
- Labor shortage will be increasingly difficult.
Opportunities for Vietnam's fisheries industry to adapt, recover and develop in the coming period:
- Investor confidence in Vietnam and Vietnam's seafood has increased significantly today and after the Covid epidemic (thanks to effective policies and guidelines to combat the epidemic, implement social security and economic development).
- The main countries competing with Vietnam, such as India and Ecuador, have to blockade and quarantine to prevent epidemics, reducing 50% of production and export; Indonesia or the Philippines and Thailand also dropped about 30%. These countries will have significant latency than Vietnam in restoring production to maintain the supply to the world. This is a great opportunity for Vietnam seafood to increase production to gain market share in the markets.
- There will be a shift in production from China to Vietnam, especially after the US-China trade war and the Covid -19 epidemic.
- The demand for raw materials from preliminary processing from Vietnam tends to increase.
- Convenient and value-added fishery products tend to be preferred in the world market.
- Supporting industries for aquaculture (producing medicine, chemicals, packaging materials, equipment, equipment for aquaculture, processing, etc.) have a chance to develop in Vietnam, thereby creating favorable conditions for seafood businesses to be more active in production.
Forecast
Covid's epidemic situation is still very complicated in countries around the world, so, in the next few months, seafood exports will definitely continue to decrease. Exporting enterprises have not been able to escape the situation of declining, delaying or canceling orders, stagnant transportation and payment was not favorable.
Seafood exports in the second quarter will not be able to recover because some markets are still strongly affected by the covid epidemic, especially the EU market. Export to China also could not recover like before the outbreak. Countries in the epidemic center may release the blockade, but the transactions will not be smooth and recover immediately.
To get an overview, forecast production and export trends in the second quarter and 2020 and capture more details about the actual export status of each item to markets in the first quarter of 2020, please register Report on Vietnam seafood exports, Quarter I/2020, issued by VASEP in May 2020.
Get more information on this report here: http://seafood.vasep.com.vn/505_13560/seafood-reports.htm
(vasep.com.vn) In the first seven months of 2026, Vietnam’s pangasius exports to the United States reached US$189 million, down 8% year-on-year. In July alone, export value reached US$22 million, down 28%. This trend indicates that U.S. demand for pangasius imports has remained relatively cautious this year, as importers tend to maintain moderate inventory levels and limit stockpiling.
(vasep.com.vn) After three days at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, the Vietnam International Fisheries Exhibition – VIETFISH 2026 – has successfully concluded, leaving a strong impression in terms of scale, visitor numbers, the quality of business connections, and innovative activities. With more than 14,000 m² of exhibition space, 335 companies, 568 booths, participation from representatives of 17 countries and territories, and nearly 15,000 visitors, VIETFISH 2026 has once again affirmed its role as an important meeting point for Vietnam’s and the global seafood industry.
(seafood.vasep.com.vn) Held as part of Vietfish 2026 from August 19–21 at SECC in Ho Chi Minh City, a series of five specialized seminars provided the seafood business community with updates on markets, technology, standards, human resources and cooperation opportunities. With the participation of experts, international organizations, government agencies and businesses from Vietnam and abroad, the seminars created an additional platform for professional exchange alongside the exhibition’s product showcases and business networking activities.
(seafood.vasep.com.vn) On the morning of August 19, 2026, the Vietnam International Seafood Exhibition – VIETFISH 2026 officially opened at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. With 568 booths representing 335 companies, alongside the presence of senior government officials, local authorities, diplomatic missions and international partners, VIETFISH 2026 kicks off three days of business networking, technology exchange and market engagement under the overarching theme “Innovation and Sustainability.”
The Vietnam Association of Seafood Exporters and Producers (VASEP) officially announces that the Vietnam International Seafood Exhibition (Vietfish 2026) will take place from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.
(seafood.vasep.com.vn) Vietnam’s seafood exports recorded strong growth in the first half of 2026, but the performance was increasingly uneven across products, markets and enterprises. VASEP’s newly released premium report provides the detailed data and analysis needed to understand what lies behind the headline figures and prepare for the more challenging months ahead.
(seafood.vasep.com.vn) Brazil remains one of the key markets for Vietnamese pangasius in South America. However, exports to the market showed signs of slowing in the first half of 2026, while frozen pangasius fillets continued to account for the overwhelming majority of exports.
(seafood.vasep.com.vn) Marking 27 years of supporting Vietnam’s seafood industry, the Vietnam International Seafood Exhibition (VIETFISH 2026) will officially return from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, on its largest scale ever. Under the core theme “Innovation – Sustainability,” the event promises to provide a comprehensive picture of the transformation of Vietnam’s seafood industry toward greater value addition and sustainable development.
(seafood.vasep.com.vn) With less than three weeks remaining, the Vietnam Fisheries International Exhibition – Vietfish 2026 will officially take place from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. Under the theme "Innovation – Sustainability," Vietfish 2026 will provide a comprehensive networking platform for seafood businesses, buyers, distributors, industry experts, government agencies, and domestic and international visitors.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition – Vietfish 2026, the technical seminar “Green and Sustainable Technology Solutions for the Aquaculture and Seafood Processing Value Chain” will take place from 09:30 to 11:45 on August 20, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. The seminar is jointly organized by VASEP, the Department of Fisheries and Fisheries Surveillance, and the Royal Norwegian Embassy in Vietnam, focusing on technological innovation and sustainable transformation across Vietnam’s seafood value chain.
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