The most notable turnaround came from “shrimp king” Minh Phu (MPC). Despite Q3 net revenue falling 13% to VND 3.782 trillion, the company posted an impressive reversal with VND 228 billion in after-tax profit, compared to a heavy loss of VND 93 billion in Q3/2024.
This improvement was largely driven by a sharp decline in cost of goods sold, which boosted gross profit by 56% to VND 600 billion. Financial, selling, and administrative expenses were also reduced significantly, improving overall performance. Over the first nine months, Minh Phu earned VND 401 billion in profit, completing 40% of its annual target.
In the pangasius sector, Vinh Hoan Corp. (VHC) continued to maintain its leading position. In Q3, VHC’s net revenue rose 6% to VND 3.471 trillion. The highlight came from financial activities: financial income jumped from VND 56 billion to VND 116 billion, while financial expenses fell 75% to only VND 22 billion. As a result, after-tax profit grew 34% to VND 455 billion. Vinh Hoan attributed the strong profit increase to exchange rate gains, reversal of investment provisions, and lower interest costs.
Nam Viet Corp. (ANV) delivered its strongest quarter in history. Q3 revenue rose 50% to VND 2.007 trillion, bringing gross profit to VND 487 billion — the highest since the company was founded.
After-tax profit reached VND 283 billion, 10 times higher than the same period last year. Navico’s representative said improved market conditions and higher pangasius export prices boosted sales volume. Over the first nine months, pre-tax profit surged 13-fold to VND 857 billion.
Sao Ta Foods (FMC) reported an 18% increase in after-tax profit in Q3, reaching VND 111.8 billion. Although revenue grew only 5% to VND 2.989 trillion, gross margin improved to 14% as cost of goods sold rose more slowly than revenue. The company said profit growth was supported by a 51% increase in sales volume and cost reductions after settling its second shrimp crop.
Another representative of the pangasius sector, I.D.I International Development and Investment Corp. (IDI), also saw a strong rebound, with Q3 after-tax profit doubling to VND 35.5 billion — the highest in the past 12 quarters. Despite a 10% decline in revenue, IDI succeeded in optimizing production costs, increasing financial income, and significantly reducing interest expenses.
The impressive results across these companies reflect a broadly positive picture for the entire industry. By the end of Q3/2025, Vietnam’s seafood export value reached an estimated USD 2.7 billion, up 10% year-on-year. Over the first nine months, total seafood export turnover hit USD 8.36 billion, up 16%, demonstrating a solid recovery after a period of weakened global demand.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s pangasius exports to the EU reached approximately $148 million, up 12% compared to the same period in 2025. In September 2026 alone, export turnover to this market hit $18 million, a 27% year-on-year increase. Despite diverging demand across member states, the EU remains a market with growth potential for Vietnamese pangasius, particularly as supplies of several traditional whitefish species face mounting pressure.
(seafood.vasep.com.vn) Vietnam’s tuna exports to the US are showing a clear recovery after a difficult start to the year. However, the rebound is taking place against a backdrop of declining US tuna imports and a shifting supply structure, posing new challenges for Vietnamese businesses.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s shrimp exports to Japan reached US$440.9 million, up 6.4% year on year. This result is noteworthy as Japan’s total shrimp imports continued to decline slightly and competition among suppliers intensified. Demand for convenience foods and processed products continues to create opportunities for Vietnamese exporters, but capitalizing on these opportunities requires stronger competitiveness and the ability to meet increasingly specific market requirements.
(vasep.com.vn) After slowing in the first months of the year, Vietnam’s tuna exports have shown a clear improvement since June 2026. However, behind September’s double-digit growth lies a notable reality: export value is recovering, but pressures from markets, trade policies, and competition among suppliers remain.
(vasep.com.vn) Vietnam’s pangasius export value reached US$1.7 billion in the first nine months of 2026, up 11% year on year. In September alone, exports totaled US$210 million, an increase of 16%. China, the United States, and Brazil were the three largest markets, accounting for 49% of total export value. While China and Brazil maintained their growth momentum, exports to the US remained below the level recorded in the same period last year.
(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.
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