Regarding the development momentum in business activities, VCBS estimates that Nam Viet's total revenue in 2023 will reach 4,612 billion VND (-5.82% yoy), profit after tax will reach 619 billion VND because pangasius exports are entering the reduction. However, the demand for pangasius will increase again from the third quarter of 2023 thanks to China's reopening, which will boost export orders of fish industry enterprises.
Pangasius will be "hot" again in the third quarter of 2023
Previously, VCBS also identified ANV as one of two potential seafood stocks in 2023. According to the results of the 17th anti-dumping tax (POR17) of the US DOC, ANV enjoys a tax rate of 0%. This made the business decide to return to the US market. By the end of September 2022, ANV has exported 11 containers to the US market, doubling the initial target of 5 containers. ANV is also planning that in the next 2-3 years, export volume to the US market will grow by 5-7%.
ANV is gradually recovering its export volume to China, the company has exported 80 more containers to this market. In addition to exporting to Shanghai as usual, ANV has found some new partners in Beijing and Guangzhou. According to the plan, export volume in the Chinese market will grow by 35-45% in the coming time.
Besides, the selling price of ANV’s products in the Chinese market is also higher than other enterprises. For the European and Southeast Asian markets, orders is still stable. Import orders from ThaiLand increased sharply, businesses are putting their orders into supermarkets, so they always sell at good prices. ANV is expected to increase export volume to these markets by 10-15% in the coming time.
ANV's export revenue in markets in the first 8 months of 2022 all grew strongly from 34% to up
ANV's export revenue in markets in the first 8 months of 2022 all grew strongly from 34% to up. In particular, the Russian and Brazilian markets grew 2 and 3 times over the same period last year.
VCBS forecasts that ANV's pangasius revenue for 2023 will grow by 9% over the same period, bringing in a profit of VND 693 billion for the business.
In addition, ANV is expanding production into C&G segment (Collagen and Gelatin) after taking part in a joint venture with Amicogen to build a factory with a capacity of 800 tons/year, with a total investment of 6 million USD. As expected, the Amicogen factory, at full capacity, will bring in revenue and profit of $36 million and $1.5 million per year, respectively.
Forecast on Vietnam pangasius industry in 2023 - 2025
Compiled by Thuy Linh
(seafood.vasep.com.vn) After two consecutive years of decline, Vietnam’s fish cake and surimi exports rebounded in 2025. Export turnover of this product group exceeded USD 344 million, up 15% year-on-year compared with 2024 and 13% higher than 2023, although still below the peak level recorded in 2022.
(seafood.vasep.com.vn) By the end of 2025, Vietnam’s seafood industry had left a strong mark with export turnover reaching nearly $11.3 billion, up 12.4% year-on-year. This robust performance reflects not only a rebound in global consumption demand but also the agile adaptation of domestic firms in navigating increasingly stringent trade barriers.
(seafood.vasep.com.vn) According to the 2025 review and 2026 outlook conference held by the Directorate of Fisheries and Fisheries Surveillance on the afternoon of January 7, Vietnam’s seafood sector has set a total production target of over 10 million tons in 2026, representing a 0.6% increase year-on-year. Of this total, capture fisheries are projected at around 3.75 million tons (down 2.1%), while aquaculture output is expected to reach 6.25 million tonnes (up 2.2%) compared with 2025.
(seafood.vasep.com.vn) Sao Ta Food JSC (Fimex, Ticker: FMC) has announced its 2025 business results, reporting revenue of over $300 million (approximately 7.8 trillion VND), representing a 19.8% increase year-on-year; projected profit is expected to reach approximately 420 billion VND.
(seafood.vasep.com.vn) Vietnam’s fisheries sector concluded 2025 with landmark achievements: export turnover reached a record high, despite heightened volatility in global trade and increasingly stringent barriers from major markets, most notably the United States. Amid a mix of opportunities and challenges, the fisheries sector also witnessed important policy shifts. Together, these developments form a multifaceted picture of an industry proactively adapting and restructuring toward a trajectory of sustainable development.
(seafoos.vasep.com.vn) According to the Department of Agriculture and Environment of Vinh Long, the province’s shrimp farming area reached 69,800 hectares in 2025, including 7,500 hectares under high-tech farming models, 18,820 tons of black tiger shrimp and 293,000 tons of whiteleg shrimp.
(seafood.vasep.com.vn) Building on a robust growth momentum in 2025, Nghe An province has set a strategic goal to reach a total fisheries output of 270,000 tons by 2026, reinforcing its position as a key hub for aquaculture and exploitation.
(seafood.vasep.com.vn) Can Tho City statistics indicate that in 2025, following the merger of three former administrative entities - Can Tho, Hau Giang and Soc Trang - fisheries output in 2025 increased by 6.23% compared with 2024 with aquaculture production nearly 9.1 times higher than capture fisheries.
(seafood.vasep.com.vn) According to the Ca Mau Department of Agriculture and Rural Development, Ca Mau province has achieved significant, comprehensive and substantive progress in combating IUU fishing in 2025, successfully fulfilling all tasks directed by the central government and strengthening fisheries governance. These efforts have established a solid foundation for the nationwide effort to lift the EC’s "yellow card" warning.
(seafood.vasep.com.vn) Ca Mau has exceeded its 2025 production targets, reaching nearly 595,000 tons of shrimp. This milestone reinforces the province’s position as Vietnam’s leading shrimp producer and a bright spot in the country’s seafood sector.
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