Vietnam increases exports of processed seafood, reduces frozen products to China

This year, Vietnam's shrimp industry aims for 1.3-1.4 million tonnes in production and 4-4.3 billion USD in export turnover. Encouragingly, shrimp exports topped 605 million USD in the first two months of this year alone, up 46% year-on-year

Beyond frozen pangasius fillets, value-added products like fish cakes, fish balls, and peeled IQF shrimp can meet the demand for convenience in urban supermarkets and restaurants. Compared to premium products from Chile or the EU, Vietnamese seafood offers a price advantage, enabling market share expansion as Brazil prioritizes affordable imports.

The UK seafood industry celebrated a breakthrough on April 1 as Vietnam granted market access for live seafood products, opening new opportunities for growth and trade.

In 2024, Vietnam’s seafood exports exceeded 10 billion USD, with key buyers including China, the US, Japan, the EU, and the Republic Korea. The momentum continued in the first quarter of 2025, with a value of 2.29 billion USD, rising 18.1% year-on-year.

Navico, or Nam Viet Joint Stock Company, stands as one of Vietnam's pioneering enterprises in the farming, processing, and export of aquatic products, particularly pangasius (catfish). Established in 2000 in An Giang Province – the largest aquaculture hub in the Mekong Delta – Navico has solidified its position in the international market through superior product quality and a commitment to sustainable development. On April 4, 2025, Navico signed a green trade credit agreement with United Overseas Bank (Vietnam) (UOB Vietnam), marking a significant milestone in its journey toward green transformation.

According to the Board of Directors' report, IDI successfully maintained its traditional customer base in 2024 while expanding into high-potential markets, particularly the United States, benefiting from a significant reduction in anti-dumping duties.

Recently, Vietnam's La Vong fish cake was ranked number 1 in the list of the world's best white fish dishes by the world-famous culinary website Taste Atlas.

Currently, many households in the suburbs of Ca Mau City are implementing a fairly effective pangasius farming model, bringing in a stable source of income. Unlike the industrial scale in other provinces in the region, the pangasius farming model here is quite simple, low-cost, and is considered a promising direction for farmers.

Over 200,000 ha of Vietnam's shrimp farms are cultivated organically and ecologically, certified by international organizations.

Vĩnh Hoàn Corporation (stock code: VHC – HoSE) has outlined an ambitious business plan for 2025, targeting revenue of VND 13,800 billion (up 10.3% from 2024) and after-tax profit of VND 1,500 billion (up 22.3%). This follows a successful 2024, where the company recorded revenue of VND 12,513 billion (exceeding 109% of the plan) and after-tax profit of VND 1,226 billion (surpassing 123% of the VND 1,000 billion profit target). The 2025 Annual General Meeting of Shareholders is scheduled for April 24 in Ho Chi Minh City to discuss these plans.