By the end of October 2023, shrimp accounted for 38% of seafood export turnover with a value of over 2.8 billion USD, down 24% over the same period last year. In October alone, shrimp exports reached 320 million USD, down 11% compared to October 2022.
Shrimp exports in the last months of 2023 and in 2024 depend largely on fluctuations in the US market. Shrimp import volume began to recover, however, shrimp import prices in the US were still much lower than the same period last year. Falling import prices not only affect Vietnam's exports, but the Indian shrimp industry also struggles.
The seafood industry has had a worldwide shrimp surplus for more than a year. In the US, EU and China, average import prices in 2023 fell by 13.4%, 10% and 2.7% respectively. It is forecasted that the consumption and import situation in the US will be better in November and December.
Pangasius exports in October reached 189 million USD, a slight increase of 5% over the same period in 2022. Accordingly, by the end of October, pangasius exports reached over 1.5 billion USD, down 28% over the same period last year. It seems that pangasius exports are showing more positive signs, after positive information about the US market. After the FSIS inspection program, Vietnamese pangasius was rated good for food safety. In addition, preliminary results for the 19th review (POR19) for Vietnamese frozen pangasius filets exported to the US from August 1, 2021 to July 31, 2022 had much lower tax rates than the previous period. Although not the final result, this is good news for Vietnamese pangasius exporters to the US market.
The US market's demand for pangasius is also recovering. Currently, the United States Department of Agriculture (USDA) is looking to purchase 5.96 million pounds of frozen pangasius and catfish filets for use in domestic food distribution programs. This is the ministry's third largest catfish purchase in 2023, following the purchase of 6.2 million pounds of unbreaded catfish filets for a total of USD 41.8 million (EUR 38 million) in March.
China’s demand for pangasius has decreased significantly since the beginning of 2023, but sales of breaded pangasius filets are showing signs of improvement in this market...In the first 8 months of this year, China imported 11,900 tons of pangasius from Vietnam, down 41% over the same period last year. However, sales of fried Pangasius filets are still increasing, as this product appears more and more on restaurant menus in Northern China at prices of 5.47 - 6.83 USD/serving. This product also received positive feedback from Chinese consumers.
Tuna and crab exports in October tended to be more positive with double-digit growth, up 13% and 40% respectively over the same period, reaching 87 million USD and 28 million USD. By the end of October, tuna brought in 704 million USD, down 20%, and crab earned 164 million USD, down 12% than the same period last year.
Squid, octopus and shellfish products still maintained negative growth of 10-13% in October. Accumulated in the first 10 months of the year, squid and octopus exports recorded sales of over 540 million USD, down 14%, shellfish of over 109 million USD, down 10%. Exports of other marine fish except tuna reached about 1.6 billion USD, down 8%, in October alone reached 166 million USD, down 11%.
Consumption of tuna, squid, octopus and some high-class seafood continues to be affected by economic downturns, high inflation, and cautious consumer spending. In order for most consumers to still have access to popular and high-class seafood products, seafood processors and traders are tending to package products in smaller sizes, at prices suitable for all income classes. This trend is expected to stimulate better demand for seafood in the near future.
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
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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