For importers, a strong dollar is positive, and helps moderate prices. For exporters, the strong dollar weakens overseas sales by raising the relative cost of exports, and with more products sold at home, also moderates prices.
The overall trend is for a strengthening dollar. This means cheaper imports and a reduction in competitive price pressures felt by US importers.
One of the major reasons for the 40% inflation in imported seafood prices since 2010 has been the weakness of the US dollar, which has made US buyers less competitive when bidding against buyers in other countries. This now seems to be reversing.
Japan
The yen reached a trading level of 105 yen per dollar yesterday, the highest it has been since 2008 (see chart below). The economic policy in Japan is aimed at weakening the yen to spur manufacturing exports, and to stimulate some inflation. One result has been the record prices for Alaskan snow crab in yen.
In the past three years, Japan’s ability to pay higher prices for crab, surimi, cod and other products due to the stronger yen has helped these prices either maintain their levels or go up.
Right now there is a tension between the stronger Japanese economy, with demands for more seafood imports; and a weakening currency, which makes those imports more expensive.
In our view, this balance will shift in 2014 towards the weakening currency being a primary factor, and this will make crab negotiations this spring in Canada very dicey.
Europe
The euro traded at a two year high against the dollar this week. This has helped US exporters sell salmon, pollock, and cod to Europe. It will also help Canadian shrimp exporters if this trend continues.
However, there has been some weakness in Europe as evidenced by some central banks lowering interest rates, and it is possible that the euro will not maintain its current relative position as the dollar strengthens.
Again, by this summer it may be a drag on export pricing.
China
The renminbi, or yuan, is now trading at a 20-year high against the dollar, although its rise is tightly controlled by the Chinese authorities. However, it has made imports more expensive; and as many Chinese seafood reprocessing companies operate on extremely tight margins, a weaker currency makes it harder for them to bid up prices for raw materials.
At the same time, a weaker yuan hurts Chinese importers who want seafood from abroad. Once again, the strength of the Chinese economy could cancel out any negative impact; but the change in currency makes the Chinese market more potentially volatile for seafood exporters. The other thing a weaker yuan does is make it more expensive for the Chinese to buy shimp — and again, on the margins, this may help moderate global shrimp prices.
Canada
Right now the Canadian dollar has moved from parity to around CAD 1.06 per US dollar, weakening about 6%. This trend is expected to continue. David Watt, chief economist at HSBC Canada, said he expects the Canadian dollar to weaken to about CAD1.10 per US dollar this year.
“Our view is that once the Fed tapers, the US dollar will have some momentum behind it. That will result in strength of the US dollar relative to a range of currencies.”
So the bottom line is that the environment of the past two to three years, where a weak dollar contributed to the rise of seafood prices in the US is changing, and as the dollar strengthens it will be a moderating influence on domestic seafood prices.
(seafood.vasep.com.vn) Currently, Da Nang City has no fishing vessels detained, sanctioned by foreign authorities, or criminally prosecuted for IUU fishing violations. Patrols, monitoring of marine fishing activities, and handling of violations have been prioritized by competent forces, significantly reducing nearshore fishing infringements.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam’s tuna exports to Israel in the first nine months of 2025 reached just over USD 27 million, down as much as 49% compared to the same period in 2024. This is a steep and prolonged decline for many consecutive months, reflecting changes in import demand as well as shifts in the supply structure of this market.
(seafood.vasep.com.vn) The first 700 tons of Vietnamese tilapia ordered and imported by JBS Group will initially be distributed through supermarket chains, the Horeca network and JBS’s product showrooms in Brazil.
(seafood.vasep.com.vn) In October 2025, Vietnam’s pangasius exports hit $217 million, representing an 8% increase compared to the same month in 2024. For the first 10 months of the year, total export value has surpassed $1.8 billion, up 9% year-on-year. This growth demonstrates clear positive momentum for the pangasius industry, despite continued declines in certain markets.
In recent days, the Central provinces of Vietnam have been suffering from historic flooding, with prolonged heavy rains, landslides, flash floods, and deep inundation causing extremely serious impacts on tens of thousands of households, as well as many VASEP member exporters located in the region. With the spirit of mutual support and solidarity, and in order to promptly assist residents and member exporters in the affected areas to stabilize their lives and restore production activities, VASEP calls on all seafood exporters, organizations, and individuals to extend supports to the people and member exporters in the flood-hit areas. We urge timely and practical material and spiritual contributions to help member exporters and local communities in the severely affected provinces overcome this difficult period.
(seafood.vasep.com.vn) In the final days of October 2025, Vietnam’s domestic raw shrimp market remained generally stable, though slight adjustments were recorded in several sizes across key farming regions.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached USD 498 million in October 2025, up 26% from the same period last year. This is one of the highest monthly revenues since the beginning of the year, reflecting solid demand in major markets and faster shipment schedules by exporters. From January to October, shrimp export value reached USD 3.9 billion, up 22% compared to the same period in 2024.
(seafood.vasep.com.vn) On October 31, 2025, the US Court of International Trade (CIT) officially issued an order to suspend the case filed by the National Fisheries Institute (NFI), the National Restaurant Association (NRA), and several US seafood companies against the US Government concerning the implementation of the Marine Mammal Protection Act (MMPA).
(seafood.vasep.com.vn) An Giang’s fisheries sector has maintained stable growth momentum during the first nine months of 2025, making an important contribution to the province’s socio-economic development. Despite facing numerous challenges, the province is implementing various measures to enhance production efficiency, expand markets, and promote sustainable fisheries development toward deeper integration into the global economy.
(seafood.vasep.com.vn) Vietnam’s pangasius export value in September 2025 reached USD 181 million, up 5% compared to the same period in 2024. The overall trend for the pangasius industry remains positive, with total exports in the first nine months of 2025 reaching nearly USD 1.6 billion, an increase of 9% year-on-year.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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