Imported seafoods familiar to ordinary consumers, such as shrimp, salmon and tunas, are now seeing sizable price increases in
The rising trend has been spurred by such factors as supply shortfalls caused by the spread of disease at overseas farming sites and lackluster fishing catch, plus the ongoing downturn of the yen's value.
Also industry observers point out the growth of global demand for seafood over a long-term range is in the background of the price hikes.
Retailers and restaurants in
With respect to shrimp, contagious diseases broke out in various farming sites in
Landings at farming ponds in
The wholesale price of Thai vannamei in
Supply of salmon shrank across the board mainly due to the disease affecting Chilean trout--a commodity competing with coho.
As for tunas, dealers' trading price of frozen bigeye tuna surged about 30% from the spring this year at major landing ports such as
Tuna fishermen are witnessing lackluster haul in the Pacific and the
Analysts note the move to raise prices among retailers. Akidai, a supermarket in
Large-size shrimp which is in short supply fetches over Y250 per 100 grams, a level 10% more than a year earlier.
The supermarket will possibly reduce the chance of offering special sales for bigeye tuna. Toshin Suisan, a specialized fresh fish chain in
They are marketing food products using more vegetables and special sauces together with shrimp and salmon in a bid to reduce the resistance of consumers toward price hikes of shrimp and other commodities.
The price uptrend is also impacting restaurant operators. Akindo Sushiro, the largest revolving sushi chain in
Ganko Food Service Co. which operates Gankozushi chains mainly in the Kansai region centering on Osaka, reduced the amount of non-shrimp materials used in traditional Japanese dishes in a bid to restrain the prime cost.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(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.
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