Exports to major markets are volatile
In December 2023, Vietnam's tuna exports to many markets had increased over the same period such as the EU, Russia, Chile, and the Philippines... Exports to the US, Canada, Japan, or Israel had decreased, however, the decrease was not sharp.
Exports to the US, Vietnam's largest tuna import market, after continuous growth in October and November, decreased slightly in December. Tuna exports to the US reached 25 million USD this month, down 1%. For the whole year 2023, tuna exports to the US had reached 326 million USD, down 33%.
Along with the US, Vietnam's 2nd largest single tuna import market, Israel, is also decreasing imports by 6% in December. However, due to good growth in the previous months, exports to this market for the whole year 2023 had increased by 37%, reaching more than 50 million USD.
Exports to Canada and Japan were also declining in December, with declines of 12% and 8%, respectively.
Contrary to the trend of exports to the above markets, exports to the EU continued to grow well, up 25% in December. However, for 2023, exports to this market block had only increased slightly by 6% compared to 2022. In this market block, Italy is still a bright spot market with a "galloping" growth rate, up 361% compared to 2022.
After a period of instability, tuna exports to Russia increased continuously again in the last months of 2023. In December alone, tuna exports to Russia increased by 96% over the same period. For 2023, exports to this market had reached nearly 29 million USD, up 18% compared to the previous year.
In 2024, many challenges make tuna exports recover slowly
2024 is a year with many difficulties, especially the European Commission (EC) maintains a yellow card warning for Vietnam's caught seafood products. In addition, the price of raw tuna on the world market has cooled down, but tensions in the Red Sea have caused freight rates to increase, which will make the price of finished tuna still high. Meanwhile, inflation in major countries has been contained, and the world economy has escaped the bottom but recovered slowly, so the demand for tuna imports in many countries has not shown signs of recovery. Competition in markets is increasingly fierce and inventories of processing and exporting enterprises are high. All these factors will hold back the recovery of Vietnam's tuna exports.
(seafood.vasep.com.vn) Tilapia is easy to farm and provides high economic and nutritional value, making it a sought-after export commodity in many countries.
(seafood.vasep.com.vn) Vietnam’s seafood exports in the first 10 months of 2025 recorded significant progress, reaching more than USD 9.5 billion, up 15% year-on-year. This result reflects the sector’s persistent efforts amid a highly volatile market, especially policy shocks from the US Although signs of slowdown emerged in the third quarter due to countervailing taxes, key product groups still maintained strong momentum and created a foundation for full-year exports to reach USD 11 billion.
(seafood.vasep.com.vn) Vietnam’s agreement with the United States on a framework for reciprocal, fair, and balanced trade—reached during the 2025 ASEAN Summit in Malaysia—has generated strong optimism for Vietnamese exports, including tuna. Numerous positive points in the joint statement have raised high expectations for Vietnamese export goods, but turning these expectations into tangible benefits remains a long and challenging journey.
(seafood.vasep.com.vn) At the conference on “Linking the Production and Consumption Chain of Ca Mau Crab 2025,” Vice Chairman of the Ca Mau Provincial People’s Committee Lê Văn Sử posed a central question: how to shift the province’s crab exports toward official trade channels, instead of relying heavily on small-scale border trade with China as currently practiced.
(seafood.vasep.com.vn) The whitefish market in Japan is showing a clear divergence among supplying countries, in which Vietnam continues to affirm its role as a stable and high-potential exporter. Vietnam currently ranks third after the US and Russia in whitefish export value to Japan. Thanks to tariff incentives and the ability to meet Japan’s strict standards, Vietnamese pangasius continues to record a stable and positive growth trend.
(seafood.vasep.com.vn) The People's Committee of Ca Mau Province has just issued a plan to expand the super-intensive, low-water-exchange, biosecure white-leg shrimp farming model (RAS-IMTA) for whiteleg shrimp farming to a scale of 1,500 hectares, aiming to develop high-tech, sustainable and environmentally friendly shrimp farming.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company (HNX: SGC) plans to issue over 7.1 million shares to raise nearly 465 Billion VND for Hoan Ngoc M&A Deal.
(seafood.vasep.com.vn) According to Rabobank, global tilapia production is forecast to exceed 7 million tons in 2025, driven by a strong recovery in major producing countries including China, Indonesia, Egypt, Bangladesh and Vietnam. Among them, Vietnam is emerging as a potential tilapia supplier in the global supply chain, capitalizing on market fluctuations to expand production and exports.
By the end of Q3/2025, Vietnam’s seafood industry recorded a clear recovery as a series of leading companies reported strong profits — some even achieving the highest results in their history. After several quarters struggling with high costs and weakened demand, the latest business results indicate a robust comeback across the industry.
(seafood.vasep.com.vn) On November 12 in Ho Chi Minh City, the Embassy of the Netherlands, in coordination with the Ministry of Agriculture and Environment, organized the Vietnam–Netherlands Business Forum under the theme “Shaping the future of sustainable aquaculture in the Mekong Delta.”
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