On July 14, the JPY fell to a new 24-year record low against the US dollar. The main reason why the JPY fell sharply against the USD was because investors were worried that the interest rate gap between the two economies would widen if the Fed continued to raise interest rates.
The Euro also saw the first time in 20 years fall to parity with the US dollar. One of the reasons for the Euro's depreciation was the sharp increase in gas prices and the uncertainty surrounding energy supplies from Russia related to the conflict in Ukraine, causing recession in the Euro area. While the US Federal Reserve Bank (Fed) raised interest rates strongly to reduce inflation, the European Central Bank (ECB) has not made similar decisions.
Depreciation of Euro affect the import demand of seafood from Vietnam
When the Euro depreciates against the USD, although Vietnamese enterprises are not affected because most of Vietnam import and export transactions use USD, the profits of buyers decrease so they can reduce demand for Vietnamese exporters. Besides, when the local currency weakens, imported goods become more expensive, European consumers will consider spending, choosing necessities with affordable prices, which reduces demand.
The JPY fell to a 24-year low against the dollar. There has been a situation where Japanese importers proposed to renegotiate import prices to compensate for their losses when the JPY depreciated. Besides, there is a situation where the customer has signed a contract before, but negotiates to receive the goods slowly. Having suffered a lot when the local currency depreciates, Japanese importers will also adjust their plans and import demand during this period.
Another concern is that when the USD appreciates, the cost of importing raw materials will also increase. This will affect Vietnamese enterprises, who is importing raw materials for processing and exporting.
Accounting for 14% of Vietnam's total seafood export turnover, Vietnam's seafood exports to Japan in the first half of this year reached over 800 million USD, up 18% over the same period.
Under inflationary pressure, seafood prices in Japan have continuously increased in recent years. Moreover, the JPY depreciated, falling to the lowest level in 24 years, making Japanese consumers have to consider and tighten their spending, so it is difficult for seafood exports to this market to have significant breakthroughs from now until the end of the year.
Accounting for 12% of Vietnam's total seafood export turnover, seafood exports to the EU market in the first half of 2022 reached over 688 million USD, an increase of more than 41% over the same period last year. After increasing by 58% in the first quarter, seafood exports to the EU in the second quarter also slowed down, up 31% to reach 390 million USD.
In the context of fluctuations in exchange rate, Vietnam seafood exporter should carefully choose the payment currency
The EU is also a market with high inflation in the first half of this year. The record inflation of 8% in the second quarter shows that the EU's trade is in crisis, after Covid and especially after trade sanctions with Russia due to the conflict in Ukraine. Inflation cast a shadow over the Eurozone economy, reducing consumption demand of Europeans.Therefore, high-priced seafood products will be on the list that consumers must consider to reduce.
In the current situation of the world commodity market and foreign exchange market with many fluctuations, export enterprises must pay attention to the exchange rate between VND and foreign trade payment currencies, in order to choose the market export, import and choose a payment currency that is most beneficial.
The close cooperation of the government, ministries, branches and banks in flexibly directing, implementing prudent monetary policies, adjusting exchange rates, and reasonably stable interest rates is always very necessary for businesses in the current unpredictable situation.
Compiled by Thuy Linh
Shrimp has been the most important export product of Vietnam’s seafood industry for many years, typically accounting for 35–45% of the country’s total seafood export value. With a well-developed farming, processing, and export system, Vietnam has become one of the world’s leading shrimp exporters.
(seafood.vasep.com.vn) As geopolitical tensions in the Middle East continue to escalate, the global food market is facing increasing volatility in logistics costs, energy prices, and supply chains. In the seafood sector, alongside ocean-caught products such as tuna, the surimi-based product group—including fish cakes, crab sticks, fish balls, and other imitation seafood products—has also been affected to some extent by these developments.
(seafood.vasep.com.vn) According to the 2026 brackish-water shrimp farming calendar issued by the Da Nang Department of Agriculture and Environment, the 2026 crop started in early January and is expected to harvest in late June. However, stocking progress has been slower than planned as farmers remain cautious, focusing on pond renovation and production preparations.
(seafood.vasep.com.vn) After the Lunar New Year of Binh Ngo 2026, commercial clam prices in Ha Tinh province surged sharply, nearly doubling compared to normal levels and standing about 20–30% higher than the same period last year. The spike has encouraged many aquaculture households to accelerate harvesting and sell large volumes to the market.
(seafood.vasep.com.vn) In January 2026, Vietnam’s shrimp exports reached USD 379.6 million, up 22% compared to the same period in 2025. The double-digit growth in the very first month of the year signals a relatively positive recovery in orders, particularly in Asian markets.
(seafood.vasep.com.vn) From the very beginning of 2026, India’s shrimp industry has received a series of favorable trade signals: U.S. reciprocal tariffs have been reduced, while the successful conclusion of a Free Trade Agreement (FTA) with the EU has opened prospects for eliminating nearly all seafood tariffs in the coming years. This shift not only enables Indian shrimp to quickly offset declines in the U.S. market, but also reshapes the global competitive landscape, placing greater pressure on Vietnamese shrimp exporters in terms of price, market share, and strategic positioning.
(seafood.vasep.com.vn) Entering 2026, Vietnam’s pangasius industry is recording many positive signals, both in terms of raw fish prices and export prospects. Export turnover this year is projected to reach approximately USD 2.3 billion. Amid ongoing volatility in the global market, diversifying export destinations, reducing dependence on major markets, and effectively leveraging free trade agreements (FTAs) are considered key to maintaining sustainable growth and creating new momentum for the pangasius sector.
(seafood.vasep.com.vn) With forecasts indicating that weather conditions in 2026 may become more complex—featuring prolonged heatwaves, unseasonal rains, and increased salinity intrusion—the agricultural sector of Can Tho City advises brackish water shrimp farmers to strictly follow the seasonal farming calendar and strengthen pond environmental management to minimize risks and improve production efficiency.
(seafood.vasep.com.vn) On February 4, a working delegation led by the Authority of Telecommunications (Ministry of Science and Technology) met with the Management Board of Cat Lo Fishing Port (Phuoc Thang Ward, Ho Chi Minh City) to comprehensively review the installation of Vessel Monitoring Systems (VMS), assess signal connectivity, and evaluate the effectiveness of information technology applications in fisheries management across the city.
(seafood.vasep.com.vn) The year 2025 marked a significant milestone for China’s lobster market, with total imports reaching a record high and the supply structure undergoing major changes. Amid this surge, Vietnam’s lobster exports—especially green lobster—accelerated dramatically, reaching new highs and contributing substantially to Vietnam’s overall record shrimp export value.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
