Vietnamese shrimp exports to several major markets have achieved positive results. As per the annual trend, exports typically accelerate in the third quarter. As of September 15, 2024, shrimp exports to the US reached $516 million, up 8%. Exports to the EU totaled $337 million, up 15%. Exports to China and Hong Kong amounted to $529 million, up 26%, while exports to Japan recorded $342 million, down 1% (a lower decrease compared to the beginning of the year).
According to data from the US National Oceanic and Atmospheric Administration (NOAA), in the US market during August 2024, Vietnamese shrimp exports outperformed competitors such as India and Ecuador, whose shrimp exports to the U.S. declined.
The average import price of shrimp from Vietnam to the US increased from $4.59 per pound in July 2024 to $4.95 per pound in August 2024. The price per pound also slightly increased compared to the same period last year, as the average price was $4.93 per pound in August 2023. August also marked the highest monthly shrimp import volume into the U.S. since the beginning of the year, although figures still indicated a year-on-year decrease.
In 2024, frozen shrimp exports have been impacted by a price trend that has yet to recover clearly, combined with competitive pricing pressure from Ecuador and India. However, Vietnam’s processed shrimp still holds a strong position in the market. As a result, by the end of September, exports of processed whiteleg shrimp increased by nearly 10%, while exports of frozen whiteleg shrimp increased slightly by 4.5%. Accumulated in the first nine months of the year, whiteleg shrimp exports reached nearly $2 billion, and black tiger shrimp exports totaled $334 million.
The price of Vietnamese raw shrimp has been more positive since July. Prices for raw whiteleg shrimp of sizes 50, 80, and 100 pieces per kilogram have risen steadily from July to September. The average export price of Vietnamese shrimp to the US and EU has also increased since June. Export prices to China and Japan have also slightly increased.
The price of raw shrimp is expected to remain favorable in the fourth quarter. However, there may be a localized shortage of raw materials as China is anticipated to ramp up purchases for the Lunar New Year and New Year holidays, and businesses will need raw materials to boost production for year-end orders.
(seafood.vasep.com.vn) Sao Ta (FMC - HoSE), a key subsidiary of PAN Group, has announced impressive business results for February. The company's shrimp production reached 1,913 tons, a 106% increase compared to the same period last year, while agricultural product production reached 67 tons, up 6%.
(seafood.vasep.com.vn) The tuna export market of Vietnam in the first month of 2025 has seen notable fluctuations. Exports to most major markets have decreased compared to the same period in 2024.
The Seafood Expo Global is the largest seafood industry event in the world, truly becoming a professional playground and a strong foundation for connecting the international seafood community. The Seafood Expo Global (SEG) 2025 will take place from May 6 to May 8, 2025 in Barcelona, promising to be an important platform for the global seafood community to meet, trade, and seek business opportunities in seafood industry.
(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
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