Earlier this year, there were 5 Vietnamese enterprises participating in exporting pangasius to the Russian market. However, in January 2022, the export value of pangasius to this market reached US$2.18 million, down 29.8% over the same period in 2021.
In 2021, the Covid-19 epidemic had a positive impact, causing a sharp increase in the demand for importing Russian frozen pangasius fillets from Vietnam. In 2021, Vietnam was one of the three largest suppliers of white fish products to Russia (after Argentina and China). Vietnam is a unique market supplying frozen pangasius to Russia. Until now, Vietnamese pangasius enterprises still consider Russia as a market with great potential and great demand.
Since the beginning of this year, especially after Russia opened a special military campaign in Ukraine, the situation of exporting Vietnamese pangasius to this market is temporarily interrupted and facing many difficulties.
As reflected by some large pangasius exporters to Russia, after Western countries introduced a series of financial sanctions targeting Russian banks, the ruble fell by nearly 30%, to the lowest level. so far against the USD, with the milestone of nearly 95 Rubles for 1 USD on March 1. Due to the strong depreciation of the ruble, many importers do not want to pay for their orders. The payment situation through banks of enterprises is almost paralyzed, some importers have accounts in other countries but the payment is not easy.
Currently, enterprises have temporarily stopped signing pangasius export orders to Russia, although many importers still want to continue cooperation without interruption.
Shipping lines have also announced not to accept shipping containers to Russia because of the very high risk that shipments may be detained at the Port of Rotterdam before reaching two major Russian seaports, Saint Petersburg and Vladivostok.
Moreover, currently, the price of raw pangasius in the Mekong Delta has increased to 32,000 VND/kg due to scarcity. Enterprises cannot buy raw materials due to the sharp increase in prices. Many other large markets are also in great demand to import pangasius, but factories do not have enough raw materials for processing, not to mention enough finished fish to be exported to Russia in the current context of war tensions.
In January 2025, Vietnam's shrimp exports to the UK reached over 16 million USD, an 8% increase compared to the same period last year. The UK is the sixth-largest individual market for Vietnam’s shrimp imports, accounting for 5.5% of the total shrimp exports to various markets. Shrimp also holds the largest share (70%) in Vietnam’s total seafood exports to the UK.
Nguyễn Đức Bình, vice director of Quảng Ngãi Province's Department of Agriculture and Rural Development, said that 4,259 out of 5,194 fishing boats (82 per cent) had registered for operations at sea.
(seafood.vasep.com.vn) The first two months of 2025 recorded positive signals in Vietnam's seafood export activities, with total revenue reaching USD 1.423 billion, growing 18.2% compared to the same period in 2024. In February 2025, the export value hit USD 655.197 million, showing an impressive growth of 42.6%.
(seafood.vasep.com.vn) Kiên Giang Province, home to over 13,000 fishing vessels, is intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing. Faced with challenges from offshore fishing, many vessels have shifted to near-shore fishing using destructive methods, severely damaging marine ecosystems.
(seafood.vasep.com.vn) Vinh Hoan Corporation (HOSE: VHC) continues to solidify its position as the leader in Vietnam's pangasius export industry with impressive business results in 2024 and positive prospects for 2025. Factors supporting growth, such as recovering demand, improved selling prices, and favorable international trade policies, make Vinh Hoan one of the top stocks to watch in investment portfolios for 2025.
Amid global trade uncertainties, Việt Nam is prioritising compliance with international market requirements to maintain and expand its agricultural exports.
On February 26, 2025, VinFast and the Vietnam Association of Seafood Exporters and Producers (VASEP) signed a comprehensive cooperation agreement to strongly promote green transformation goals. The collaboration between the two parties will contribute to the realization of the country’s sustainable development goals and help elevate the Vietnamese brand on the international market.
(seafood.vasep.com.vn) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
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
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