In May 2023, exports to major markets still dropped by double digits. Only exports to smaller markets such as the UK and Taiwan recorded positive growth. In May 2023, China ranked first in importing Vietnamese shrimp, accounting for 23%. The US ranked second, accounting for 21%.
As of May this year, China and the US have steadily increased export turnover, higher than the previous month. Shrimp exports to the Chinese market in May still recorded negative growth but the decrease was less than in previous months (March recorded a decrease of 40%, April decreased by 22%, May decreased by 11%).
The US market also has a similar trend to the Chinese market. According to data from the US Department of Commerce, in the first 4 months of 2023, shrimp imports into the US reached 521 million pounds (about 236,039 tons), down 18% compared to the same period in 2022. April 2023, imported some shrimp products Vietnam's imports into the US recorded growth compared to March 2023 such as raw shrimp with shell increased by 211% compared to March 2023, peeled raw shrimp increased by 46%, steamed shrimp and powdered shrimp increased 13% and 20% respectively.
Diseases and wars lead to a global economic downturn and an increase in inflation. Consumers become more cautious in spendings, reduce spendings, and choose more affordable products. This caused demand for shrimp to decrease while shrimp supply, especially from Ecuador and India, is increasing. Countries such as Indonesia and Ecuador harvest shrimp early with a successful shrimp production in both quantity and size, directly competing with Vietnamese shrimp. These countries are also supplying at a cheaper price than Vietnamese shrimp from 1-2 USD/kg, making it difficult for Viet shrimp exporters to find orders. Meanwhile, the domestic price of raw shrimp has decreased continuously in recent months, affecting the whole shrimp industry.
In the first 5 months of 2023, Vietnam’s shrimp export turnover reached 1.2 billion USD, down 34% over the same period last year.
In the current difficult context, the business community hopes that the State Bank will continue to pay attention and consider a demand stimulus package of 10,000 billion VND for aquaculture in the Mekong Delta. If they can access credit, it will help shrimp exporters to buy raw materials for export from now on for 3-6 months in 2023 and in the first quarter of 2024. Implemented stimulus early will help calm shrimp farmers, help them continue stocking instead of hanging ponds.
Vietnamese shrimp is increasingly less competitive compared to Ecuador, India. To raise commercial shrimp with low cost and high success rate, we must have close coordination among stakeholders in the industry chain. This entails collaboration between companies that produce high-quality shrimp seeds, offer affordable and top-notch feed, and provide farming products at reasonable prices.
The whole shrimp industry is also waiting for the Government and ministries to have solutions to remove difficulties for the industry in terms of cost reduction, loan interest reduction, electricity bills, simplification of administrative procedures, fire prevention regulations, etc.
With the current challenges, processing enterprises must review production costs and cut unnecessary costs. Simultaneously, enterprises need to focus on developing more value-added products with better profit margins (such as sushi, breaded shrimp, tempura, instant shrimp...), special products such as shrimps raised extensively in the ecological forest system to supply the high-end market segment.
In addition to large markets with low demand, businesses should look to small markets such as in Asia (Hong Kong, Taiwan, Switzerland ...) with better purchasing power.
Compiled by Thuy Linh
(vasep.com.vn) Vietnam’s tuna exports sustained their upward trajectory in August 2026, though the pace remained modest at just 2%. The month saw divergent trends across key markets: the US maintained its leading position, Japan and Canada improved, Russia surged and the EU continued to experience a steep downturn. These developments suggest that exporters are entering the final months of the year amid a market environment marked by greater uncertainty.
(vasep.com.vn) Vietnam’s shrimp exports reached $3.3 billion in the first eight months of 2026, up 12% year on year. However, growth momentum is moderating and market divergece is becoming more pronounced, while the US and EU continue to present significant challenges. The latest insights from the Global shrimp forum 2026 (GSF 2026), held in early September, also indicate that the final months of the year will remain highly competitive as global supply continues to expand and buyers place greater emphasis on quality, product specifications, supply consistency and the ability to meet market-specific demand.
(vasep.com.vn) Vietnam’s pangasius exports continued to grow in August 2026, bringing total export value in the first eight months of the year to US$1.5 billion, up 10% year-on-year. August exports alone reached US$205 million, up 6%. However, market performance has become increasingly divergent, with China and Brazil posting positive growth while the U.S. continued to record a sharp decline.
(vasep.com.vn) Vietnam’s seafood exports reached US$1.14 billion in August 2026, up 6.4% year on year, bringing the total for the first eight months to more than US$8.0 billion, an increase of 11.9%. Monthly export value remained above US$1 billion, but August growth was only around half the rate recorded cumulatively through the first eight months. This indicates that the eight-month result was supported significantly by stronger performance in earlier months, while market conditions are entering a less predictable period.
(seafood.vasep.com.vn) Pangasius is attracting growing interest from Japanese seafood companies as prices of many traditional whitefish species remain high and supply becomes increasingly volatile. Notably, seafood group Kyokuyo has recently continued to feature pangasius among its priority products, highlighting its competitive pricing and stable supply.
(seafood.vasep.com.vn) As Vietnam’s tilapia industry searches for new growth opportunities, venturing into brackish-water aquaculture could unlock a formidable competitive moat. Bypassing the volume-and-price bloodbath against established global heavyweights, Vietnam could differentiate itself through high-quality tilapia products tailored to specific farming conditions and value-added market segments.
(seafood.vasep.com.vn) 2026 is rapidly shaping up to be a formidable stress test for Vietnamese pangasius exports to the United States. While exports to alternative markets maintain a resilient growth trajectory, the U.S market has declined significantly. In the first eight months of the year, pangasius exports to the U.S fell by nearly 14% year-on-year, with August alone recording a decline of more than 50%. The trend shows that difficulties in the U.S. market are not driven solely by weak consumer demand, but also by multiple layers of trade barriers that are intensifying simultaneously, particularly additional import tariffs, anti-dumping duties and growing protectionism for the domestic catfish industry.
(vasep.com.vn) Vietnam’s pangasius exports to Japan are showing positive signals in 2026, indicating that the market is opening up greater opportunities for pangasius products, particularly processed and value-added products. In the first seven months of 2026, Vietnam’s pangasius exports to Japan reached US$31 million, up 20% year-on-year. In July alone, export value reached approximately US$5 million, up 30%.
On July 22, 2026, the Government issued Decree No. 292/2026/ND-CP detailing certain articles and providing measures for the organization and implementation of the Law on Foreign Trade Management. The Decree takes effect on September 5, 2026, replacing Decree No. 69/2018/ND-CP.
(vasep.com.vn) Vietnamese pangasius producer Vinh Hoan has won the top prize at the 2026 Seafood Excellence Asia Awards for its Cured Panga Croquette, highlighting the growing potential of value-added pangasius products in international markets.
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