According to the Vietnam Association of Seafood Exporters and Producers (VASEP), pangasius export turnover in the past 11 months reached 2.3 billion USD, up 77% over the same period in 2021.
In a report on the pangasius industry, VCBS believed that high global inflation caused consumers to change their buying behavior, shifting from high-end products to more affordable ones, typically like white fish.
The prolonged Russia-Ukraine tensions caused a shortage of pollock from Russia and paved the way for Vietnamese pangasius to have the opportunity to access foreign markets.
Besides, holidays such as Thanksgiving, Christmas and New Year also boost the demand for fish in Western countries. In addition, the reopening of China brings many opportunities for Vietnamese pangasius businesses and seafood businesses as well.
Analyzing key markets, VCBS believed that the US and China are very promising destinations for Vietnamese pangasius exporters.
Specifically, according to the results of the 17th anti-dumping tax (POR17) of the US Department of Commerce, NAVICO (Code: ANV) enjoyed a tax rate of 0%, which made the company decide to return to this market.
By the end of September 2022, NAVICO had exported 11 containers to the US market, doubling the initial target of 5 containers. NAVICO is also planning that in the next 2-3 years, the company’s export volume to the US market will grow by 5-7%.
NAVICO was also gradually recovering its export volume to China, the enterprise has also exported 80 more containers to this market. Besides exporting to Shanghai, NAVICO had found some new partners in Beijing and Guangzhou. According to the plan, export volume in the Chinese market will grow by 35-45% in the coming time.
VCBS expects NAVICO's pangasius revenue for 2022 and 2023 to grow by 22% and 9% over the same period, bringing profits of VND642 billion and VND693 billion, respectively.
Similar to NAVICO, Vinh Hoan Corp (Code: VHC) also received a preferential tax rate of 0% for many years. In the first 10 months of 2022, Vinh Hoan maintained a stable market share in the US markets, revenue increased by 75% benefiting from the shortage of pollock supply from Russia, change in buying behavior due to high inflation, and the appreciation of USD.
In addition, China's Zero COVID policy has caused the country's production to stall, creating opportunities for some Vietnamese enterprises to increase exports, to offset the needs of the billion-people market. In the first 10 months of 2022, Vinh Hoan's export revenue in China increased slightly by 5%.
However, Vinh Hoan will continue to focus on the US market more because the Chinese market prefers cheap products, which are not suitable for Vinh Hoan's high-quality product line, which meets the strict standards of the US market.
Compiled by Thuy Linh
(seafood.vasep.com.vn) By the end of 2025, Vietnam’s seafood industry had left a strong mark with export turnover reaching nearly $11.3 billion, up 12.4% year-on-year. This robust performance reflects not only a rebound in global consumption demand but also the agile adaptation of domestic firms in navigating increasingly stringent trade barriers.
(seafood.vasep.com.vn) According to the 2025 review and 2026 outlook conference held by the Directorate of Fisheries and Fisheries Surveillance on the afternoon of January 7, Vietnam’s seafood sector has set a total production target of over 10 million tons in 2026, representing a 0.6% increase year-on-year. Of this total, capture fisheries are projected at around 3.75 million tons (down 2.1%), while aquaculture output is expected to reach 6.25 million tonnes (up 2.2%) compared with 2025.
(seafood.vasep.com.vn) Sao Ta Food JSC (Fimex, Ticker: FMC) has announced its 2025 business results, reporting revenue of over $300 million (approximately 7.8 trillion VND), representing a 19.8% increase year-on-year; projected profit is expected to reach approximately 420 billion VND.
(seafood.vasep.com.vn) Vietnam’s fisheries sector concluded 2025 with landmark achievements: export turnover reached a record high, despite heightened volatility in global trade and increasingly stringent barriers from major markets, most notably the United States. Amid a mix of opportunities and challenges, the fisheries sector also witnessed important policy shifts. Together, these developments form a multifaceted picture of an industry proactively adapting and restructuring toward a trajectory of sustainable development.
(seafoos.vasep.com.vn) According to the Department of Agriculture and Environment of Vinh Long, the province’s shrimp farming area reached 69,800 hectares in 2025, including 7,500 hectares under high-tech farming models, 18,820 tons of black tiger shrimp and 293,000 tons of whiteleg shrimp.
(seafood.vasep.com.vn) Building on a robust growth momentum in 2025, Nghe An province has set a strategic goal to reach a total fisheries output of 270,000 tons by 2026, reinforcing its position as a key hub for aquaculture and exploitation.
(seafood.vasep.com.vn) Can Tho City statistics indicate that in 2025, following the merger of three former administrative entities - Can Tho, Hau Giang and Soc Trang - fisheries output in 2025 increased by 6.23% compared with 2024 with aquaculture production nearly 9.1 times higher than capture fisheries.
(seafood.vasep.com.vn) According to the Ca Mau Department of Agriculture and Rural Development, Ca Mau province has achieved significant, comprehensive and substantive progress in combating IUU fishing in 2025, successfully fulfilling all tasks directed by the central government and strengthening fisheries governance. These efforts have established a solid foundation for the nationwide effort to lift the EC’s "yellow card" warning.
(seafood.vasep.com.vn) Ca Mau has exceeded its 2025 production targets, reaching nearly 595,000 tons of shrimp. This milestone reinforces the province’s position as Vietnam’s leading shrimp producer and a bright spot in the country’s seafood sector.
(seafood.vasep.com.vn) According to Vietnam Customs data, cumulative shrimp exports from the beginning of the year through November reached $4.3 billion, up 21% year-on-year, continuing to serve as the primary growth driver of the entire seafood sector. In November alone, export turnover amounted to $393 million, up 14%.
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