The contagion effect of the war in Ukraine has been felt all over the world, from rattling the energy market to fueling Europe's growing refugee crisis. Experts warn that the conflict could have even bigger impacts, including triggering an impending food crisis. The EU is the main trading partner of agricultural, food and seafood products with Russia and Ukraine. Therefore, the European Union is facing the threat of food security now.
The war in Ukraine and sanctions on Russia have shifted Europe's economy and markets on a much larger scale than in previous crises like the Covid-19 pandemic. Inflation in Europe is hitting a record high and threatens to undermine the manufacturing resumption that began last year when economies struggled to bounce back from the Covid-19 pandemic. It is forecasted that food prices in Europe will increase to unprecedented levels, which is an opportunity for Vietnamese pangasius enterprises to return to this market after many years of stagnation.
Moreover, the fact that many EU countries and the US are "punishing" Russian pollock - which is a strong competitor to pangasius - also makes the supply of white fish in this region significantly reduced. This is a good opportunity for Vietnamese pangasius enterprises to promote frozen pangasius exports to the EU.
Until now, the Netherlands is still the largest pangasius import market of Vietnamese enterprises. In the first 4 months of this year, Vietnam exported a variety of pangasius products to this market, including value-added products such as: Frozen breaded pangasius, frozen sliced pangasius; frozen pangasius fillets (Cubes), frozen pangasius fillets; Frozen nugget cut pangasius fillet, frozen rose roll pangasius fillet, frozen fried beer flavored breaded pangasius, frozen organic pangasius fillet.
Currently, besides the Netherlands, Vietnamese pangasius enterprises are exporting frozen pangasius to Germany, Spain, Belgium, ... in a positive way.
Compiled by Tra My
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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