But as the financial problems engulfing the eurozone deepen, merchants are finding it more and more difficult to sell fish there and prices for some of these species have fallen considerably.
The price of megrim for example, most of which goes to Spain, has “all but collapsed,” said Paul Trebilcock, chief executive of the Cornish Fish Producers' Organization.
He said 90 percent of his members’ megrim goes to Spain, and while prices had been volatile for the last two years or so they had now “all but collapsed."
Hake was also badly affected, but the fall there has been mitigated to some extent because the UK market has been developed.
“We are now getting somewhere around £2.50 (€3.1/$3.9) to £3 (€3.7/$4.7) per kilogram for hake, which is well down on the prices we used to get, but if we hadn’t developed the UK market prices for hake would be like megs [megrim] -- on the floor, he said.
“The biggest consumers of fish in Europe are countries like Spain, Portugal and Italy, so if we can’t sell fish there then it has to go somewhere else, which means you have a downward pressure on prices in the northern European states as well.”
He added that the uncertainty is a killer. "We need something to happen to resolve things one way or the other so that we can move on.”
Will Clark, chairman of Peterhead and Fraserburgh Fish Processors Association and the Scottish Seafood Association, said Scottish merchants were also experiencing difficulties because of the eurozone’s problems.
He said the euro was now 22 percent weaker against the pound than a year ago, which made exporting fish and seafood more difficult and resulted in fewer sales to countries such as Spain, Portugal, Italy and Greece.
The problems had been offset to some extent by changing patterns of consumption in countries such as Spain.
Shortage of money meant people were eating out less in restaurants, which hit that trade, but were tending to buy more fish from supermarkets to eat at home.
This was helping to hold up prices of species such as monkfish and prawns.
“It’s swings and roundabouts but we are very reliant on exports to the eurozone countries and with all the financial turmoil we are really in uncharted waters,” he told Fishing News.
Clark said markets were “volatile and fragile."
Processors had been forced to use up funds last year when fish prices reached record highs, and now the eurozone crisis and fluctuating fish supplies caused by fishermen having to juggle their days at sea and quota leasing costs to stay viable was adding to the difficulties.
(seafood.vasep.com.vn) The year 2025 marked a pivotal milestone for Vietnam’s seafood industry in its restructuring process toward sustainability, transparency, and higher value creation, amid continued uncertainties in the global economic and trade environment. Prolonged inflation in major economies, the rising trend of trade protectionism, and increasingly stringent requirements related to environmental standards, traceability, and social responsibility have posed significant challenges to seafood production and exports. Nevertheless, overcoming these pressures, Vietnam’s seafood sector has gradually demonstrated its adaptability, maintained growth momentum, and laid an important foundation for the next stage of development.
(seafood.vasep.com.vn) Amid the increasingly evident impacts of drought and saltwater intrusion, the shrimp-rice production model in Ca Mau province continues to prove itself as a viable direction, contributing to higher farmer incomes, improved soil conditions and the promotion of ecological and sustainable agricultural development.
(seafood.vasep.com.vn) The management of fishing vessels, monitoring of fishing activities, and handling of violations in the fisheries sector in Lam Dong province have continued to be implemented in a synchronized and stringent manner, contributing to raising awareness of legal compliance among fishermen and aiming to end illegal, unreported and unregulated (IUU) fishing.
(seafood.vasep.com.vn) Can Tho’s fishery industry sustained steady growth in 2025 with total aquatic and marine output reaching nearly 783,000 tons, fulfilling 100% of the annual target. Aquaculture, capture fisheries and fishing fleet management were further strengthened, aiming for sustainable development in the coming years.
(seafood.vasep.com.vn) In 2025, Vietnam’s pangasius export turnover reached nearly USD 2.2 billion, up 8% year-on-year. This result indicates that pangasius exports maintained their growth momentum despite significant volatility in the global market environment. In December 2025, pangasius export value reached USD 200 million, up 10% compared to December 2024. This solid performance in the final month of the year reflects increased import demand for consumption and inventory replenishment in key markets.
(seafood.vasep.com.vn) In 2025, Vietnam’s tuna exports to Spain experienced significant fluctuations. According to Vietnam Customs, during the first 11 months of 2025, export turnover for the first 11 months of the year edged up by 0.3% year-on-year, reaching nearly $15 million.
(seafood.vasep.com.vn) Deputy Prime Minister Bui Thanh Son has signed Decision No. 16/QD-TTg, dated January 5, 2026, approving the implementation plan for the Vietnam-Israel Free Trade Agreement (VIFTA). Under the plan, in the coming period, ministries, ministerial-level agencies, government-affiliated entities and People’s Committees of provinces and centrally-run cities must institutionalize and execute tasks focused on the dissemination of information regarding VIFTA and the Israeli market; legislative and institutional development, as well as enhancing competitiveness and human resource growth...
(seafood.vasep.com.vn) Beyond achieving double-digit growth, Vietnam’s fish cake and surimi exports are showing a notable year-end "inflection point": the EU his accelerating with nearly twofold growth, China & Hong Kong are rising sharply, while the largest market, South Korea, signaled a slowdown in November. According to Vietnam Customs data, export turnover of fish cake and surimi reached $327 million in the first 11 months of 2025, up 22% year-on-year; November 2025 alone accounted for $35 million, marking a 5% increase. This serves as a critical foundation for exporters to reassess market structures and competitive intensity while finalizing order strategies for 2026.
(seafood.vasep.com.vn) Ca Mau, widely regarded as the nation’s “shrimp capital”, continued its strong performance in 2025 as shrimp output reached nearly 600,000 tons, maintaining its position as Vietnam’s leading shrimp-producing locality.
(seafood.vasep.com.vn) On December 29, 2025, at the 2025 Pangasius Industry Review Conference held in Can Tho City, the Vietnam Pangasius Association announced that fingerling prices have surged to record levels due to acute supply shortages.
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