In May 2023 alone, Vietnam's tuna exports to the US, Japan, Canada and Thailand tended to decline. Meanwhile, exports to the EU have recovered.
The export market is gloomy
Among 97 import markets, the US is still the largest single import market of Vietnamese tuna, accounting for 37%. As of May this year, tuna exports to this market reached US$117 million, down 53%. Particularly in May, exports to this market decreased by 45% over the same period last year.
According to FAS.USDA data, in the first 4 months of 2023, total tuna imports into the US reached more than 99 thousand tons, worth US$662 million, down 10% in volume and 23% in value over the same period in 2022. Exports from most tuna suppliers to the US all declined.
Currently, inventories in the US market have gradually decreased, inflation has also decreased, but people are still facing previous debts, so consumer demand has not really recovered. In that context, US importers are more cautious. Therefore, at least by the end of this year, US tuna imports can recover.
Among 97 import markets, the US is still the largest single import market of Vietnamese tuna, accounting for 37%
Along with the US, tuna exports to markets participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) also declined in May 2023. Export turnover to this market sector decreased by 18%, reaching more than 10 million USD. Accumulated in the first 5 months of the year, export turnover reached more than 46 million USD, down 15%. The cause of the decline in exports to this market sector is that exports to the two largest markets in the bloc, Japan and Canada, both dropped sharply in May 2023, by 32% and 31% respectively.
In the Japanese market, prolonged inflation pushed commodity prices up. Although commodity prices have been adjusted thanks to the government's energy subsidy programs, they still put pressure on consumption activities, reducing the purchasing power of Japanese households. This has affected the country's tuna imports.
Contrary to the US and CPTPP, tuna exports to the EU increased in May, with an increase of 15% over the same period, reaching nearly 17 million USD. This growth is due to the growth of the two largest import markets in the bloc, Germany and the Netherlands. In May alone, exports to these two markets increased by 66% and 172%, respectively.
Tuna exports to Israel also continued to increase strongly in May with an increase of 110%. This growth has contributed to bringing the total export turnover to this market in the first 5 months of the year to nearly 21 million USD, an increase of 83%.
Competition increases
In the context of a difficult market, tuna prices in Bangkok are climbing to a peak, while skipjack prices in Manta remain stable. Price of frozen whole skipjack tuna with size > 1.8kg delivered in Manta, Ecuador fluctuates at 1,800 USD - 1,825 USD/ton. This is putting a lot of pressure on Asian tuna producers, including Vietnam.
Vietnam’s tuna processing and exporting enterprises face more and more difficulties. Therefore, businesses expect the Prime Minister to quickly come up with practical support policies for businesses such as lowering interest rates, developing infrastructure, and adjusting policies to support imports of raw materials.
Compiled by Thuy Linh
(seafood.vasep.com.vn) The year 2026 marks a period of strong growth for Vietnam’s tilapia industry, but it is also a time when international export competition is becoming increasingly intense. Vietnam’s tilapia exports reached USD 99 million in 2025, up 140% compared to the previous year. In the first four months of 2026 alone, export value reached USD 49 million, a 151% increase year-on-year. As global demand for affordable whitefish continues to rise, Vietnam is emerging as a noteworthy competitor to traditional tilapia powerhouses such as China, Indonesia, Brazil, and Egypt.
(seafood.vasep.com.vn) With continued policy support, technological innovation and close coordination among authorities, businesses and farmers, Vietnam’s pangasius industry is expected to make a strong and sustainable breakthrough during the 2026–2030 period, reinforcing its position as the world’s leading exporter of the fish.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s tilapia exports to Asian markets showed varying trends across regions and countries. The Middle East recorded strong growth, with Saudi Arabia emerging as the largest Asian market for Vietnamese tilapia. ASEAN markets also expanded significantly, driven primarily by Malaysia. Meanwhile, Japan maintained solid growth, while exports to South Korea declined compared to the same period in 2025.
(seafood.vasep.com.vn) Shrimp and pangasius continued to lead growth, helping seafood exports reach $4.67 billion in the first five months of the year; however, differentiation among product groups and increasingly stringent requirements from importing markets are posing many challenges for the industry.
(seafood.vasep.com.vn) Every day, the seafood processing industry in Ca Mau generates large quantities of shrimp heads and shells during processing operations. In the past, these by-products were largely treated as waste, increasing production costs and posing potential environmental risks. However, thanks to advanced processing technologies, materials once considered waste are now being transformed into high-value products, creating a circular economy model within the seafood industry.
(seafood.vasep.com.vn) Vietnam Clean Seafood Corporation has invested in a 280-hectare super-intensive shrimp farming zone in Tran De Commune, Can Tho City, generating export value of approximately VND 3 billion per hectare per year—around 50 times higher than traditional agricultural production.
(vasep.com.vn) Vietnam’s seafood exports reached USD 1.02 billion in May 2026, up 0.6% year-on-year. Cumulative exports in the first five months of 2026 totaled USD 4.67 billion, an increase of 11% compared to the same period in 2025.
(seafood.vasep.com.vn) In a rapidly changing global seafood market, timely insights and reliable data are more critical than ever. The Report on Vietnam Seafood Exports in Q1/2026 provides a comprehensive overview of the latest developments in Vietnam’s seafood production, trade performance, and export trends, helping businesses navigate uncertainty and identify new growth opportunities.
(seafood.vasep.com.vn) While many major markets continue to experience slow growth, Russia has emerged as a brighter destination for Vietnamese tuna exports in early 2026. Export turnover to this market increased by nearly 55% in the first four months of the year, indicating a clear improvement in demand. Nevertheless, Russia remains a market that should be viewed with both optimism and caution.
(seafood.vasep.com.vn) Vietnam’s pangasius exports have shown encouraging signs of recovery in 2026. In the first four months of the year, total export turnover reached USD 720 million, up 17% compared to the same period last year. This result reflects improving demand across many markets, as well as the efforts of Vietnamese pangasius enterprises to maintain production, secure orders, and adapt to changing market conditions.
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