Export products of ABT include pangasius (accounts for 62% of revenue) and clams (accounts for 25% of revenue). The main export markets include the EU (40% of total exports) and Japan (33% of total exports).
Pangasius export demand is expected to continue to increase, many pangasius companies have increased their average selling price by 40% compared to the beginning of the year.
SSI Research expects ABT to benefit from this trend and continue to record strong revenue growth this year. However, raw fish, aqua feed and transportation costs also increased by 33%, 15% and 80% respectively over the same period. For that reason, even when export prices remain positive, SSI Research believes that increasing costs will continue to put pressure on ABT's profit.
ABT’s revenue and after-tax profit are estimated at 522 Billion VND (up 52.7% YoY) and 48 Billion VND (up 42% YoY), respectively.
ABT's long-term outlook: Current processing capacity is 10,000 tons/year and ABT has no plans to expand production capacity. Instead, the company is investing in improving production technology to reduce waste in fish processing. This can help improve both production capacity and gross profit margin. Currently, due to small-scale production, ABT is 100% self-sufficient in fish and clam materials.
In Q1/2022, Sao Ta Foods Joint Stock Company (HoSE: FMC) recorded revenue of 1.3 trillion VND (up 37.1% over the same period) and net profit of VND 42.3 billion VND (up 36.5% over the same period), with sales volume increased by 36% over the same period. According to NOAA, the average selling price of vannamei exported to the US in Q1/2022 increased to US$12/kg (up 14% over the same period), signaling strong demand growth. According to VSEPR, the price of raw shrimp has increased by 4% over the same period. Due to the seasonality, the price of raw shrimp is usually lower in the Q2, Q3 and higher than in the Q1, Q4.
Currently, CP holds 25% shares of FMC. As a result, FMC gets a certain discount (about 20% discount compared to secondary wholesalers) when purchasing aqua feed and raw shrimp from CP. Inflationary pressures can become an advantage for FMC in terms of cutting production costs.
In 2022, FMC will likely focus more on the key export market, Japan (accounting for 28% of total exports in 2021), due to less competition, higher average selling prices thanks to lower shipping costs and Japan’s preference towards value-added products. However, due to high demand in the US, Khang An Foods (a subsidiary of FMC) recently signed a new contract with the Costco- wholesale supermarket chain in the US. Because the US market prefers raw white shrimp, the gross profit margin in the US market is lower than that of Japan and Korea.
"We estimate net revenue and profit after tax to reach 6.3 billion VND (up by 21.2% YoY) and 369 billion VND (up by 28.7% YoY) respectively in 2022. We assume that shrimp consumption will increase by 18% year-on-year, while the average selling price of shrimp will increase by 3% year-on-year. Although raw material cost of shrimp is not as volatile as pangasius, we expect FMC to improve its gross profit margin in 2022 to 10.6% (it was 10.2% in 2021) due to the expand of exports to Japanese market," - SSI Research report stated.
SSI Research assumes that administrative and selling expenses to turnover ratio will remain unchanged year-on-year, at 5.1%.
FMC's long-term outlook: The company owns 320 hectares of farming area, providing 30% of total shrimp input. FMC plans to increase farming area to increase profit margin.
The remaining supply of raw shrimp comes from production contracts and purchases from small-scale farms. FMC's processing capacity is 25,000 tons per year and is currently processing at 92% of its capacity in 2021.
The company has started constructing two new processing plants with a total designed capacity of 15,000 tons/year. These new factories are expected to come into operation in Q3/2022, bringing FMC's total processing capacity to 40,000 tons per year by year-end.
Compiled by My Hanh
Shrimp has been the most important export product of Vietnam’s seafood industry for many years, typically accounting for 35–45% of the country’s total seafood export value. With a well-developed farming, processing, and export system, Vietnam has become one of the world’s leading shrimp exporters.
(seafood.vasep.com.vn) As geopolitical tensions in the Middle East continue to escalate, the global food market is facing increasing volatility in logistics costs, energy prices, and supply chains. In the seafood sector, alongside ocean-caught products such as tuna, the surimi-based product group—including fish cakes, crab sticks, fish balls, and other imitation seafood products—has also been affected to some extent by these developments.
(seafood.vasep.com.vn) According to the 2026 brackish-water shrimp farming calendar issued by the Da Nang Department of Agriculture and Environment, the 2026 crop started in early January and is expected to harvest in late June. However, stocking progress has been slower than planned as farmers remain cautious, focusing on pond renovation and production preparations.
(seafood.vasep.com.vn) After the Lunar New Year of Binh Ngo 2026, commercial clam prices in Ha Tinh province surged sharply, nearly doubling compared to normal levels and standing about 20–30% higher than the same period last year. The spike has encouraged many aquaculture households to accelerate harvesting and sell large volumes to the market.
(seafood.vasep.com.vn) In January 2026, Vietnam’s shrimp exports reached USD 379.6 million, up 22% compared to the same period in 2025. The double-digit growth in the very first month of the year signals a relatively positive recovery in orders, particularly in Asian markets.
(seafood.vasep.com.vn) From the very beginning of 2026, India’s shrimp industry has received a series of favorable trade signals: U.S. reciprocal tariffs have been reduced, while the successful conclusion of a Free Trade Agreement (FTA) with the EU has opened prospects for eliminating nearly all seafood tariffs in the coming years. This shift not only enables Indian shrimp to quickly offset declines in the U.S. market, but also reshapes the global competitive landscape, placing greater pressure on Vietnamese shrimp exporters in terms of price, market share, and strategic positioning.
(seafood.vasep.com.vn) Entering 2026, Vietnam’s pangasius industry is recording many positive signals, both in terms of raw fish prices and export prospects. Export turnover this year is projected to reach approximately USD 2.3 billion. Amid ongoing volatility in the global market, diversifying export destinations, reducing dependence on major markets, and effectively leveraging free trade agreements (FTAs) are considered key to maintaining sustainable growth and creating new momentum for the pangasius sector.
(seafood.vasep.com.vn) With forecasts indicating that weather conditions in 2026 may become more complex—featuring prolonged heatwaves, unseasonal rains, and increased salinity intrusion—the agricultural sector of Can Tho City advises brackish water shrimp farmers to strictly follow the seasonal farming calendar and strengthen pond environmental management to minimize risks and improve production efficiency.
(seafood.vasep.com.vn) On February 4, a working delegation led by the Authority of Telecommunications (Ministry of Science and Technology) met with the Management Board of Cat Lo Fishing Port (Phuoc Thang Ward, Ho Chi Minh City) to comprehensively review the installation of Vessel Monitoring Systems (VMS), assess signal connectivity, and evaluate the effectiveness of information technology applications in fisheries management across the city.
(seafood.vasep.com.vn) The year 2025 marked a significant milestone for China’s lobster market, with total imports reaching a record high and the supply structure undergoing major changes. Amid this surge, Vietnam’s lobster exports—especially green lobster—accelerated dramatically, reaching new highs and contributing substantially to Vietnam’s overall record shrimp export value.
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